Overview: A Brief Look at Cheap Franchises
There are a number of reasons to own your own franchise. Maybe you’re not satisfied with your job. Maybe you want to become your own boss. Or better yet, you are looking to improve your life by finding meaningful and satisfying employment.
Unfortunately, most people will never take the chance on buying a franchise. The most common reason it remains a pipe dream is because people often think it will cost too much.
Image Source: BigStock
Most of us are not millionaires, after all, so what kind of opportunities are out there? What we all need to understand is that there are countless low-cost franchises waiting for people just like you to pursue them.
If you are looking to purchase a franchise but are scared of the monetary risks, you have come to the right place. Throughout this review we will answer commonly asked questions about cheap franchises such as:
- How do I begin my search for low cost franchises?
- Are there any franchise opportunities under 10K?
- How about lower? Are there franchise opportunities under 5K?
There is a common misconception that franchises will cost someone hundreds of thousands, if not millions of dollars. Take McDonald’s, for instance. To own a McDonald’s franchise requires an investment of up to $2.2 million. Or take KFC at $2.5 million in start-up costs or Denny’s at $2.4.
Luckily, we can ignore franchises like that. If you are looking for cheap franchise opportunities that will make you money without putting you and your family in a tailspin of endless debt, then it’s time to start thinking smaller. The first thing you will have to consider is which low-cost franchise opportunities are right for you.
Cheap Franchise Opportunities: Weigh Your Options
In a way, we could have titled this article, “How to Debunk the Many Misconceptions of Owning a Franchise.” Too many people overlook low-cost franchises for a variety of reasons, but the biggest might be that we associate the word “franchise” with fast food restaurants or sports teams or even entertainment industries that make millions if not billions of dollars a year. So how could anyone take a chance on owning a franchise?
The first thing you should do before searching for cheap franchises is to get this misconception out of your head. Don’t think about the businesses you pass on the way to work. Consider what moves you. What are your talents? What are your passions? What industry would you love to work in?
Now it’s time to consider all of the low-cost franchise opportunities that exist. Franchises are a part of every industry, from accounting to fitness, from automotive to daycares, and the list goes on. For many of these cheap franchises, you don’t have to own a store in which you operate. As long as you can provide your services for that franchise, you can get started with a small down payment.
We will begin by looking at franchise opportunities under 10k before working our way down to those under 5k. This review will offer a wide variety of cheap franchises so that you know some of the many opportunities that exist. Maybe the questions posed earlier do not apply to you. Maybe you have always known your passions but want to go in another direction. Our hope is that at least one of these low-cost franchises will inspire you to get started.
Franchise Opportunities Under 10k
Franchise Spotlight 1: Maid Simple House Cleaning
Image Source: Maid Simple
The first franchise opportunity under 10k we will feature is Maid Simple House Cleaning. While they require you to have a minimum of $9,995, your up-front investment will cost you only $6,995. House cleaning is an ever growing industry in the United States, and there is huge opportunity to make an excellent profit.
For your benefit, we have listed some of the perks of this low-cost franchise opportunity below:
- Ranked by Entrepreneur magazine as a Top 100 Franchise.
- The only Green Clean Certified maid service company in the world.
- The company, Maid Brigade, will travel to train you in person.
- Your finances and schedule are handled directly by the company itself.
This last point of information is important to note. Cheap franchises often require a lot of the work to be done on your end.
When opening a Maid Simple franchise, however, Maid Brigade will schedule your clients’ service times and will handle all of the financial transactions so you don’t have to worry about asking your customers for money. You will be paid promptly by the company, and there is no need to keep an extensive spreadsheet with your scheduled appointments. Maid Brigade will do all of that for you.
One of the other benefits of this low-cost franchise opportunity is that they offer two business models for you to choose from.
The first is the Manager Model, which is suited for those who want to hire and manage staff while also having the time to network for new clients. The other model is the Owner/Operator, in which you will physically to go your clients’ homes to clean.
This is one of the most important points about low-cost franchises. While you may not know much about cleaning homes, franchise opportunities under 10k do not necessarily require you to be an expert. If you are good at managing employees and growing a business, you will often be able to open low-cost franchises without an expert understanding of the industry.
Don’t Miss: How to Start a Cleaning Business This Year
Franchise Spotlight 2: Concrete Technology Inc.
Image Source: Concrete Technology Incorporated
Our second franchise opportunity under 10k is Concrete Technology Inc., which requires a minimum invest of $9,500 to get started. Concrete Technology has become one of the fastest growing and most popular cheap franchises for a variety of reasons. Some of the best are listed below:
- The company, CTi, does not charge franchise fees, royalties, or other costs.
- You keep 100% of the money you earn.
- CTi provides all of the advertising tools to market your low-cost franchise.
- You are fully trained during a 2-day seminar for $499 per person in Tampa, Florida.
Even with the $499 training fee, you are still hovering around the 10k threshold. In many ways, CTi’s start-up fees are what make this particular franchise opportunity under 10k so popular.
Since the company makes money on training new franchise owners, it does not have to charge you for any of your profits. This will help you in the long run. Rather than losing a percentage of your profits, you simply pay a one-time minimal fee to get going.
Once you start to build relationships with your clients, you will see how important it is to not sacrifice any of your profits. Franchise opportunities under 10k like CTi recognize the amount of work and time you have to put into them and have created a model to properly reward your efforts.
Franchise Spotlight 3: Mattress by Appointment
Image Source: Mattress by Appointment
The final franchise opportunity under 10k we will feature is Mattress by Appointment, which requires only $7,500 in cash. Mattress by Appointment is exactly as it sounds: a cheap franchise that requires a potential customer to schedule an appointment ahead of time. If you are looking for a flexible schedule, then this could by the perfect franchise opportunity under 10k for you.
Other benefits include:
- You have the potential to earn $75,000–$150,000 per year.
- Most franchise owners work around 30 hours per week.
- You simply answer the phone to schedule appointments with clients.
- Mattress by Appointment provides weekly training and support calls.
- You are given access to all major mattress brands.
As mentioned earlier, a lot of people want to invest in cheap franchise opportunities so they can spend more time with their families. The biggest problem is that most people do not know how to franchise a business. This is where Mattress by Appointment comes in. With more than 25 years of mattress retail experience, the company will give you all of the necessary tools to make the most of this low-cost franchise opportunity while also keeping your schedule flexible.
If you think low-cost franchise opportunities like this sound too good to be true, contact Mattress by Appointment directly. The difference between a salary of $75,000 and $150,000 is how quickly you can embrace the company’s advertising model. Most cheap franchises will discuss all of this information with you ahead of time so you know which company is right for you.
Franchise Opportunities Under 5k
Franchise Spotlight 4: Tennis Time
Image Source: Tennis Time
If you would prefer looking at low-cost franchise opportunities under $5,000 instead, there are plenty of options for you to pursue. One industry that offers low-cost franchise opportunities under 5k is sports. Of course, we’re not talking about owning a sports team. But for just $3,500, you could become a franchise owner for Tennis Time.
Some of the benefits of becoming a franchise owner include:
- You get to keep 100% of your earnings. You will not pay any royalties.
- You will teach all classes at local schools.
- There is an opportunity to make $200 per hour.
- You have the option of running your business part-time or full-time.
A lot of times, franchise opportunities under 5k sound like a good deal until you see how much more you have to spend on it later. With Tennis Time, however, you do not have to worry. Since you teach children at local schools, you will not have to invest in a physical space, keeping your costs minimal. Therefore, Tennis Time is one of the low-cost franchises that truly costs you little.
One of the biggest questions concerning cheap franchises is how to franchise a business that will make you happy. If you are passionate about working with children and teaching them sports, there may be no better low-cost franchise opportunity under $5,000 than Tennis Time. Not only will you spend your time outdoors, you will get to adjust your schedule so you can spend as much time working as you want. Tennis Time is one of the cheap franchises that lets you pursue your passion while also giving you time at home.
Franchise Spotlight 5: Credit Revitalize
Image Source: Credit Revitalize
If you are more comfortable working with credit scores and finances, Credit Revitalize might be the franchise opportunity under 5k that is right for you. With a minimum cash requirement of $2,499, this low-cost franchise opportunity is meant to revitalize clients’ credit scores by using a unique and effective approach. Benefits of becoming a franchise owner include:
- You can make more than $100,000 while working from home.
- As an Affiliate Pro, you earn $80 per month on each of your clients’ service fees.
- The more clients you bring to Credit Revitalize, the more you will make.
- You use pre-designed marketing materials to build your clientele.
Many franchise opportunities under 5k require you to have a strong understanding of the industry, but Credit Revitalize provides all of the necessary information you need. As a franchise owner, your job will be to make contact with potential clients by offering them brochures and website addresses that have already been made by Credit Revitalize. Therefore, low-cost franchises like this are perfect for those who want to spend more time at home without leaning a brand-new skill set.
Franchise Spotlight 6: SocialOwl
The final franchise opportunity under 5k we will feature here is SocialOwl, a social media business which does not require you to have any understanding of social media platforms. This cheap franchise is different from those previously mentioned in that its start-up fee is only $149. With such a small investment, it is hard to look past franchise opportunities under 5k like this one. Other than its low ownership fee, the benefits include:
- You set your own pricing and payment plans.
- You keep 100% of your earnings.
- SocialOwl will employ experts to get your business up and running.
Since social media is changing the way businesses are run, it makes sense that this franchise opportunity under 5k would have a big following. The way it works is simple: as a franchise owner, you will create your own domain name and advertise businesses in your area. Too many local businesses do not advertise upcoming events or specials. That’s where you come in. By using SocialOwl, you can work with local businesses to get their information on the Web.
This franchise opportunity under 5k will pay off if you are willing to work with other business owners in your area. It will require someone with an entrepreneurial spirit who wants to help other local entrepreneurs. If this sounds like you, then this low cost franchise may be the perfect way to get started.
Conclusion: The Right Low-Cost Franchise Opportunity Is Out There
If you have ever dreamt of becoming a franchise owner, there are countless options to pursue, including low-cost franchise opportunities under $5,000. One of the biggest fears that people have is how to franchise a business that meets one of their passions. Thanks to the many low-cost franchises that now exist, the right opportunity is waiting for you.
Whether you want to spend more time at home or you are sick of working for a boss, cheap franchises offer you a chance to take control of your life. Many of these opportunities allow you to create a flexible schedule so you can work as much or as little as possible while operating your business.
It is important to note that this article is simply meant to give you a sample of the many low-cost franchise opportunities out there. Many of the cheap franchises we mentioned have competitors that operate in a slightly different way. Be sure to look at all of your options before deciding on which one is right for you. You may find that the key to a better work life is by becoming your own boss.
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