Those searching for ideas to build a business might be drawn to the benefits of owning a franchise. In addition to offering the promotion and support of the franchise from the main headquarters, several franchises can be bought with startup fees, which makes it an affordable option.
While most individuals out there dream of becoming successful entrepreneurs, they still do not know where to start. If you have an entrepreneurial spirit but do not want to start a business from scratch, searching for low-cost franchises is a worthy option to consider. It is one of the simplest ways to break into the concept of business ownership and offers aspiring business owners the opportunity to fulfil their dreams without going through the challenges of starting from the beginning.
The purchase cost of some franchises could be way too expensive. However, there are some that are affordable and, therefore, highly accessible to expecting franchisees with limited availability of capital.
Low-cost Franchise Opportunities – Things to Expect
While owning a franchise might not be for everyone, it still offers some advantages over starting a business venture from scratch. Primarily, a franchise already features an established brand as well as a proper customer base. The franchisor or the parent company has done most of the hard work –like the creation of the business idea and its concept, logo designing, and development of relevant marketing materials. In such a scenario, the franchisee can come up with carrying out the day-to-day operations of business ownership.
Like with any other business venture, it is required to have proper capital to purchase the franchise. Every franchise needs some amount of money and continuous investment of some amount and time. When purchasing a franchise, here are some important factors to consider:
- Initial investment: It is responsible for spanning the costs associated with labour, materials, and resources for launching the business. The initial investment includes the franchise fee.
- Franchise Fee: Every franchise opportunity out there will require the aspiring business owner to pay some upfront, one-time franchise fee.
- Ongoing investment: It is the money required for running the franchise on a continuous basis.
- Personal Finances: Some franchises require business owners to feature a minimum net worth before becoming eligible for purchasing the franchise. Some others might have liquidity requirements.
Top Affordable Franchises for Aspiring Entrepreneurs
- Mosquito Squad
Franchise fee: $15,000 to $32,500
With its origins in 2009, Mosquito Squad is a leading name in the field of pest control across the nation. Since its inception, the company has managed to set up over 200 franchise locations along with $50 million as its total sales. The franchise fee is affordable and the brand also features third-party lender relationships for helping with financing. This makes it easier to enter business ownership.
- Stratus Building Solutions
Franchise fee: $2,700 to $100,000
Stratus Building Solutions is committed to bringing environmentally-friendly solutions for meeting the janitorial needs of retail shopping centers, office buildings, restaurants, and so forth. The franchise began in 2006 and was able to purchase 91 units in 2017 itself.
To its potential franchisees, Stratus Building Solutions provides two options for purchasing the franchise –executive or regional master and unit master. Both the franchise options are quite cost-effective. For those who have a smaller amount of money for investing in a franchise, the minimum net worth requirement of $5000 for ensuring unit-level ownership is quite appealing.
Franchise fee: $5,495 to $10,495
The brand takes its origins from the famous StrollerStrides fitness programs. These programs are dedicated to mothers of young children. Fit4Mom delivers access to country-wide franchise opportunities with lucrative scheduling options and minimal startup costs. As individuals become the franchisees of Fit4Mom, it allows them to conduct the respective Stroller Strides classes, Body Back classes, Fit4Baby classes, Fit4Mom Run Club, and Stroller Barre Classes.
- Cruise Planners
Franchise fee: $10,995
It is the best-suited option for aspiring entrepreneurs who want to own a travel company. Cruise Planners is a franchise representative of AmEx or American Express and American Express is one of the leading cruise planning companies in the world. The best part is that franchisees can operate the Cruise Planners franchise by sitting in the comfort of their homes. This makes the initial investment amount, in this case, the lowest in the franchise business.
Franchise fee: $23,500
Chem-Dry boasts around 10 billion square feet of carpet installation projects every year. Chem-Dry has indeed become a successful franchise business. The brand was launched in 1977 and started out with the objective of cleaning carpets. Throughout the years of succession, the brand has been successful in maintaining an impressive track record of supporting the franchisees for building thriving businesses.
The overall cost of becoming the Chem-Dry franchisee can vary and would depend on the equipment purchases during the initial stages.
Franchise fee: $1,250
Jazzercise was launched in 1969. The brand is not all about ‘80s music and leg warmers anymore. The brand has launched the dance party craze for its contemporary comeback. Now, the brand offers access to dance and exercise sessions. Purchase of the Jazzercise franchise means submitting the initial investment and franchise fee.
- Superglass Windshield Repair
Franchise fee: $5,000 to $17,500
With just a few weeks of ample training, entrepreneurs can learn about becoming the franchisee of Superglass Windshield Repair. The company is based in Orlando but there are worldwide locations. It is amongst one of the best affordable franchises to purchase. The company focuses on mobile services. This has enabled the franchisor to keep up with the ever-rising demands of the consumers.
Starting a new business venture can be overwhelming. However, buying a franchise can now become a reality and it can be highly affordable as well. By investing in low-cost franchises, aspiring entrepreneurs can set up a lucrative business opportunity to start with.