How To Start A Franchise For Less Than 10K Right Now
What is a franchise?
A franchise is a license granted by a company to an individual or group to market and sell its products or services in a specific territory. Popular franchises that you may recognize are Subway, the UPS Store, and Domino's Pizza. But did you know that there are tons of franchising opportunities in many types of industries including automotive, cleaning & maintenance, health & fitness, financial services, and pet-related franchises, just to name a few?
Franchising allows many franchisees the chance to own and operate their own business with support from the franchisor. Once an up-front, one-time franchise fee is paid to the franchisor, the franchisee must pay an ongoing franchise royalty fee.
Here's What You Need To Know First
Nothing in life is free - except love. Having said that, anyone can tell you that in order to make money you have to spend money. This is the truth. However, you do not have to sell your first born in order to start up a franchise. Granted, I am not talking about opening a McDonald's or a Maaco but there ARE franchises that can be started with very little upfront costs and there is financing available in most cases. You should know that:
- I am not affiliated with, nor do I endorse, any of these companies.
- I am not trying to sell anything to you.
- I only know this information because I have looked into these opportunities for myself.
- I've obtained this information from "Entrepreneur's Startups" magazine and corporate websites.
- Always do your research, but this is a good start.
You've Clicked So I Know You're Interested
If you have opened this article link that means that you are somewhat interested starting a franchise business. That's great because I have some information for you to consider. If you are like most Americans then you want to try something new to generate income but you do not have much money to fiddle around with - $5,000 or maybe $10,000 if you're fortunate. If this sounds like you then you'll be happy to hear that you can actually start a business with your nested funds.
Tips to remember:
- Consult with your accountant
- Seek advice from a business lawyer
- Read the company's legal documents
- Talk to franchisees, licensees, or dealers who are already in business with the company you are interested in.
Video About Franchising with the Waiting Game
The Waiting Game
Do you think you might have a knack for advertising?
The Waiting Game
www.waitinggamepublications.com
This is a home-based business. The "Waiting Game" is a free monthly waiting-room publication based out of Lithia, Florida. The company started in 2009 and began franchising in 2011.
According to its website, the Waiting Game is a "free, full-color, interactive, incentive-based, monthly publication distributed anywhere consumers experience wait times…doctors' offices, dentists' offices, hair salons, local schools, hotels, take-out restaurants, mom's clubs, car washes, dealerships, laundromats, dance studios, martial arts centers, gymnastics clubs, and many more…"
Cost: $9.2K-$11.1K
Financing: YES
Needed To Qualify: $6K-$9K net worth/$6K-$9K liquid
What is your preferred way of earning income?
A-1 Concrete Leveling & Foundation Repair
Into home improvement? Is building and remodeling your thing?
A-1 Concrete Leveling
A-1 Concrete Leveling & Foundation Repair began in 1992 out of Akron, OH and began franchising in 1993. They have 46 units in the US. According to their website, they "provides a full complement of concrete repair services that span residential and commercial concrete applications" including:
- Foundation Repair
- Slabjacking
- Mudjacking
- Concrete Leveling
Cost: $115.5K - $145.9K
Financing: YES
Needed To Qualify: $5K liquid
What is your biggest fear about franchising opportunities?
Educate yourself on FRANCHISING
United States Seamless
Maybe siding and gutters are your shtick?
United States Seamless
Established and franchised in 1992, US Seamless specializes in seamless steel siding, gutters, and accessories and have 51 units in the United States. According to their website, they "sell and install seamless steel siding, seamless gutters, soffit, fascia, windows, storm and entry doors, other siding, insulation, accessories and, other products and services for new construction and existing homes, apartment buildings, and commercial buildings". United States Seamless' home base is in Fargo, ND.
Cost: $52.3K - $111.4K
Financing: YES
Needed To Qualify: $10K - $20K liquid
System4
Love to keep things clean?
System4 Commercial Cleaning
System4 was established and began franchising in 2003. They are located out of Independence, OH and host an astounding 1,193 units nationwide. The System4 website states that they "Provide a win/win business cleaning franchise that offers the best of both worlds to franchisees: the freedom to control your own destiny combined with the security of exclusive, field-tested technical assistance, professional training and operations support every step of the way"
Cost: $6.2K - $37.8K
Financing: YES
Needed To Qualify: $3K net worth/$2.5K liquid
Baby Boot Camp / Karna Fitness
Have a passion for empowering moms with fitness?
Baby Boot Camp / Karna Fitness
With 146 US units and based out of Sarasota, FL, Baby Boot Camp specializes in parental and postnatal fitness. Baby Boot Camp is an "innovative stroller fitness program that helps moms regain or enhance pre-pregnancy fitness levels and meet the physical challenges of parenting by emphasizing strength training in a supportive environment", according to their website.
Cost: $4.7K - $10.4K
Financing: NO
Needed To Qualify: non-applicable
United Marketing
Ever considered a vending machine route?
United Marketing
You can rack it in one dollar at a time with minimal work by owning your own vending machines and route. United Marketing currently has 350 dealers and is "recognized industry-wide as the designer and distributor of the most versatile, highest-quality vending machines on the market... also have decades of vending industry experience to our credit", this according to their website. This is a New York based business.
Cost: $4.5K
Financing: YES
Needed To Qualify: Not specified
Hallmark Homecare
Enjoy helping others, especially those who cannot help themselves?
Hallmark Homecare
Hallmark Homecare is located in Irvine, CA and specializes in caregiver searches, recruitment and placement services. If you are interested, "you don’t need significant start-up investment, and you don’t even need to quit your day job…you just need an interest in making a powerful impact on the lives of seniors and their families", so says their website.
Cost: $14.9K - $26.9K
Financing: YES
Needed To Qualify: $5K liquid
Summary of Highlighted Opportunities
Franchise
| Cost
| Needed To Qualify
| Financing Available
|
|---|---|---|---|
THE WAITING GAME
| $9.2K-$11.1K
| $6K-$9K NET w/$6K-$9K LIQUID
| YES
|
A-1 CONCRETE LEVELING
| $115.5K-$145.9K
| $5K LIQUID
| YES
|
UNITED STATES SEAMLESS
| $52.3K-$111.4K
| $10K-$20K
| YES
|
SYSTEM4
| $6.2K-$37.8K
| $3K NET w/$2.5 LIQUID
| YES
|
BABY BOOT CAMP
| $4.7K-$10.4K
| N/A
| NO
|
UNITED MARKETING
| $4.5K
| NOT SPECIFIED
| YES
|
HALLMARK HOMECARE
| $14.9K-$26.9K
| $5K LIQUID
| YES
|
The above franchises were just the stand-outs for me and my little budget. These were the ones that I looked a little bit into. Hopefully, I have provided you with the starter tools to pursue your own business goals. If you really want to see what else is out there you can pick up the Fall 2013 edition of "Entrepreneur's Startups" from your local bookstore or online. Happy Franchising!!
