Low Cost Franchise Opportunities
Best Low Cost Franchise Opportunities: Start a Franchise With A Small Investment & Turn a High Profit!
Owning a franchise comes with many benefits.
You can run your business while profiting from the already-established brand of the franchisor. You can also, in some cases, be almost absent from your business while still making a profit.
No matter which franchise you decide to go with, there are many things to consider, such as the cost to fund a franchise, the time and effort you’re willing to put in, what type of owner you want to be, and the industry in which you’re looking to invest in.
Speaking of cost, we’re here to tell you that you don’t have to break the bank to become a franchise owner, and you can turn a profit while doing it!
There are hundreds of low-cost franchises available, and while “low-cost” means one thing to one person, and a different thing to another person, for this article we will focus on some of the best low-cost franchises you can invest in for fifty thousand dollars and under.
Unavoidable Costs To Consider When Starting a Franchise
The costs of opening a franchise can vary from one industry to another, and can be affordable. However, many of the requirements are the same.
According to Franchising.com, “Franchisors usually have minimum financial requirements before seriously considering a candidate.” Requirements such as liquidity, and net worth.
Liquidity – Unless you’re printing money, your franchise business will take time to turn a profit (your franchisor should be able to tell you how long). Franchisors know this and usually require new franchisees to have a minimum amount of liquidity in order to keep the business afloat during its first year or more, until your bottom line turns from red to black.
Net worth – Franchisors also usually set a minimum level of net worth before they consider someone a true candidate for their brand.
Here are some other common franchise costs that you should consider before investing:
• Franchise fees – To be paid to the franchisor. These fees will vary from one franchise to another.
• Legal fees and accountant costs – A potential franchisee should consult with a qualified franchise attorney to help them review the Franchise Disclosure Document and the franchise agreement. Also, hiring an accountant will help you keep track of your expenses and determine how much working capital you will require. My Franchise CPAs is an expert when it comes to helping investors like you build a strong financial plan for their business.
• Inventory fees – Every franchise has different requirements but you might have to set aside a budget for your inventory.
There are endless franchise opportunities, so depending on how much you’re willing to invest, the options will vary.
Franchise Opportunities: Under $50k Investment
If your budget if 50K and under, these franchises are a great investment:
HomeWell Care Services – This is a great franchise to choose if you’re looking to make a difference.This home care service provides companion care and assistance to your loved ones.
Pet Supplies Plus – Amazing choice for a franchise since pet owners are always looking to provide the right care for their furry friends.
Send Me a Trainer – Finding the right gym and the right personal trainer can seem like a lot of work. This franchise is so convenient and important to those seeking a healthy lifestyle.
1-800 Plumber + Air – Maintaining a healthy plumbing system is a priority for every home owner. This franchise will guarantee you’ll always have business and your phone will always ring.
These are only a few of the many choices you have with a 50K investment!
Franchise Opportunities: Under $10k Investment
While 10K might seem like a low budget for a franchise, we assure there are lots of great opportunities you can invest in with that money!
Here are some business ideas:
Coffee News – With 38 franchises in 8 countries, Coffee News is heaven for latte lovers and a great opportunity for franchisees.
Jan-Pro Cleaning & Disinfecting – This franchise provides commercial cleaning services to businesses such as car dealerships, gyms, banks, churches, schools, offices, medical facilities, and more.
Stay Safe Vending – This franchise is perfect to invest in during this pandemic. It focuses on personal protection equipment such as masks, sanitizers and gloves. Considering that these products are currently in high demand, this franchise seems like the perfect opportunity for such a low investment.
FIT4MOM – Entrepreneur Magazine ranked this business among the fastest-growing franchises of 2019. A lot of moms are seeking an active and healthy lifestyle. Investing in this industry will generate great revenue for a franchisee.
Franchise Opportunities: Under $5k Investment
And now we’re down to a 5K investment. You can find many investment opportunities for under 5K. The disadvantage is that most of these business will have little to no overhead. The success of your franchise will depend on your hard work.
Here are some franchises that will cost you 5K and under:
Crack Eraser – Crack Eraser offers the best pro windshield crack repair kits online. With the reliability, true quality of the products, this franchise will make a great income for a franchisee.
Pajama-Man – If you’re interested in operating your own home-based business in an in-demand industry, consider becoming an independent insurance broker. You’ll get the right training to become an independent insurance broker and represent top insurance providers.
Premier Weddings – With this franchise, you can publish high-quality wedding magazines with very little time and effort. Some great benefits of investing in Premier Weddings is that publishing experience isn’t required, you’ll be able to work from home and the cost of investing in less than $500!
Back Massager – You’ve seen those massage chairs at shopping malls or beauty salons, and we’re sure you were tempted to use them. These wonderful vending massage chairs are an effortless way to make money in any high traffic area.
Low Cost Franchise Opportunities: To Sum Up!
If you’re tired of working a boring 9 to 5 job and have decided to become an entrepreneur, franchising is the perfect way to do so. With unlimited options and great income sources, franchises are a great way to become your own boss and work flexible hours. Keep in mind that your options will vary depending on the amount you’re willing to put down as your investment. And don’t forget the other costs that come with owning a franchise such as legal fees, inventory, and more.
If you’ve decided on which industry you want to franchise in, My Franchise CPAs is here to ensure that you build a solid business plan and find financial success within your franchise.
Contact us today to see how we can help put your mind at ease!
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