Finding highly profitable, low cost franchises to buy are rare because most well known franchises carry a heavy price tag. This makes it difficult for countless entrepreneurs with limited resources who want to discover the growing world of franchising. However, the dream of owning a franchise business IS accessible.
Entrepreneur.com has released a list showing opportunities in low cost franchises, ranked till 100, recently for the year 2007. A less than $50,000 entry option was offered to the entrepreneurs to make to the list.What was surprising was the wide list of industries these franchisers came from. they included:
- Tech Businesses
- Business Services
- Health Care
- Home Improvement Products and Services
- Financial Services
- Coaching Businesses
- Personal Care Businesses
- Retail Food Sales
- Full-Service Restaurants
- Quick Service Restaurants
- Children’s Products and Services
Prospective franchisees face the same hurdles that come across all startups while raising capital. A banker won’t necessarily see a project as less risky just because it’s a franchise.
There are some things you can also do to reduce the cost of owning a franchise. For example, When it comes to bargaining for a franchise price, always ask about system innovations, such as 7-Eleven’s work-to-own program. Check if the franchise you’re interested in allows “silent” partnerships, where a person with know-how and another with the money can form partnerships. Try out franchisers which team up with local government and redevelopment agencies to open stores in urban inner city markets. Low cost franchises doesn’t only mean franchising for less, it also means it’s possible to build your very own empire.
For first-time business owners, even those with prior management or industry experience, the first stop on your capital hunt should be at the franchiser. After becoming a franchisee, there’s a gap in the time before your business begins growing and another gap before it starts making enough profit to cover your expenses. Always plan for the longest time it would take, to reach break even, so you’re safe in every way. Till the time you grow enough to cover most expenses, you’ll have to make provision for additional money to pay your bills. Plan beforehand for this.
Along with the estimated cost for a startup and a short product description, a short listing is done here about few of the numerous choices available.
Made in the Shade Blinds: One of the most affordable low startup cost franchise options is ‘Made in the Shade Blinds’, which needs a capital investment of only $9,500 – $14,500, in total. Franchises are provided with training manual, training and startup inventory in this business, where the idea is to simply cover the windows.
360 Solutions: Would you like to get the support as an owner of a low startup cost franchise because you love the professional management and business growth’s world? At 360 Solutions, a franchise with unique opportunity, gives franchise training for providing consultation services about business to medium and small businesses. Training from 360 Solutions include business growth specialist’s network, a coaching, “360 University” and marketing action plans, for a total capital investment of $10,000 to $30,000.
SeaMaster Cruises: For starting a low startup cost franchise of cruising business of your own, try SeaMaster Cruises. It is extremely unbelievable to know that the total investment capital is just $9,500 for a SeaMaster Cruises franchise, even though this industry has such incredible potential of income.
CD One Price Cleaners: Incase you want a low startup cost franchise, which is always in demand but basically of low-cost then is there anything better than the franchise of dry-cleaning and laundry? Can anything be better than CD One Price Cleaners? Entrepreneurs are offered the opportunity to begin at no cost, their individual CD One Price Cleaners business by this franchise from Chicago area.
Low cost franchises thrive in different industries, as you are aware by now. So, the variety of low cost franchise opportunities, range from luxury cruises to business services and home improvement. You just need a little research and determination and undoubtedly you will succeed in finding for yourself, the best low cost franchises.