If you think you need a stack of money to open a franchise business, then think again. According to statistics, there are loads of franchises under 10K these days. Compared to traditional businesses and other alternatives to franchises, that’s peanuts!
In this post, we’ll take a look at some of the low-cost franchises available today and how you can set them up. Let’s get right into it.
Coffee News is a news publication found in laundromats, coffee shops, convenience stores, and many other locations. Circulation is highest where people want to grab something to read for the road or don’t want to look at their phones.
Franchise owners essentially become representatives for the publication. Their work involves meeting with local brands and discussing the benefits of advertising through Coffee News.
Entrepreneur magazine rated Coffee News as one of the top low-cost franchises people can operate in 2017. Franchisees are advised to get up to 50,000 people for their first gig and no more than 40,000 for any additional franchises.
The amount of income you can generate depends on the number of editions you publish and the ad rate you achieve. Those who network effectively with small businesses and invest more time in outreach earn more. The contract length is four years.
Cruise Planners is the US’s largest travel advisor home-based franchise network. As a travel advisor, you’ll help guide tourists to safe destinations that meet their leisure criteria.
The initial franchise fee is $6,995 for a limited time (the standard price is $10,995), making it among the most affordable options on this list. As part of the franchise, you’ll get access to hands-on training, lead-generation tools, professional development, coaching, and marketing materials.
What’s more, you can work from anywhere in the world, whether you’re at home or as a digital nomad. Cruise Planners say that you don’t require any prior travel abroad experience to join the team.
Corvus Janitorial got its start back in 2004. It now operations an incredible 900 franchise locations across the country, making it pretty much a household name.
The total investment will set you anywhere between $10,000 and 35,000. Those interested in becoming cleaning entrepreneurs and benefiting from the franchise’s extensive marketing can request information online by submitting their email address.
The Dream Vacations team set up their franchise in 1992. It now has more than 1,500 franchisees, making it one of the largest travel franchises in the country.
Startup costs are low: you’ll pay just $2,000 in initial costs. On top of this, Dream Vacations says it will deliver more than 90 percent of its marketing to you for free, so you’re not always having to pay expensive top-up fees.
Dream Vacations has won numerous awards in recent years, including Top Low-Cost Franchise by Entrepreneur magazine. It also made the Top 10 Most Profitable Franchises list by Fundera and Top Friendly Franchises for Veterans by US Veterans Magazine.
Social Owl is a franchise that lets you earn money by selling social media services to local businesses. Anyone with marketing experience can participate in the reseller program.
Most small businesses, the franchise says, are out of the loop and too busy dealing with their day-to-day operations to manage social media campaigns on their own. Social Owl offers a turn-key solution for brands, allowing its network of franchisees to manage their social media marketing. As part of the franchise, you’ll create social sweepstakes and deals, and monitor their online reputation.
Revenue from a single business averages around $300 per month, meaning a whopping $15,000 if you’re covering fifty businesses. And all that with a low down payment. There’s a monthly program called Monthly Value Bundle at just $297 and a yearly all-in-one option that will set you back $1,997 per year. Both of these come with no setup fees, which further saves money.
Rugbytots is a franchise serving more than 20,000 children in 80 countries, introducing them to the sport of rugby.
It’s inexpensive to join, and you don’t have to be a professional rugby player or coach to sign up. Rugbytots is looking for people passionate about helping the franchise’s program progress.
The franchise has grown dramatically since its founding in 2006, thanks to its network of like-minded people. It received the 5 Star Franchisee Satisfaction award at the 2014 Best Franchise Awards and got it again in 2017. The franchise attributes its success to ongoing investments in its systems, franchisee training, and its family approach to business.
Network Lead Exchange
Network Lead Exchange is a relatively new franchise, having started only in 2019. Entrepreneurs who want to open a franchise like it because once they start, they are the only business in the sector for their industry.
When members join their local chapters, they collaborate and share quality leads. Start-up costs are just $10,000, making it a reasonably affordable option with amazing growth potential.
Food franchises under 10k are often few and far between, but CasaGroup is one of the exceptions. This vending machine franchise operates in Florida and provides many machines, offering convenience foods and healthy options.
CasaGroup believes that the vending machine market will grow considerably between now and 2027. Market size will balloon, according to estimates, from $18 billion today to more than $25 billion in five years, so the future looks bright.
The income you can generate from the opportunity varies. Top-earning franchisees will naturally be those who install the most vending machines in areas of high footfall.
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Today, there are many franchises for sale under 10k. There are even select franchises under 5k, so investing has never been more affordable. Since startup statistics show us that new businesses have trouble taking off, a home-based franchise that doesn’t require substantial capital can be a great solution.
Restaurant franchises are popular, but generally more expensive. However, they can be among the most lucrative ones over the long-run. Ultimately, though, it pays to really study the market and pick based on both your areas of interest and the earning potential of the franchise.