Deciding to open a franchise can be a scary and difficult decision. If you are still waiting for your own big idea, opening a franchise can be an excellent way to become involved in a business and understand how it truly works.
Franchises are everywhere. From McDonald’s, Subway, Jiffy Lube and thousands of others, all of these businesses are franchises. Anyone can buy into a franchise, but they can sometimes cost hundreds of thousands to start and run a business. Beyond start-up costs, the franchisee also has to pay an ongoing royalty fee (which is often 20% or higher) to the corporation. Whatever is left over, the franchisee gets to keep.
If you want to work for yourself and are ready to work hard but still would like some guidance in the business world, then franchising business model could be an excellent option for you. Opening a franchise doesn’t have to cost hundreds of thousands of dollars, and there are some great businesses out there that won’t break the bank. We have explored our top ten favorite franchising options that you can buy for $25,000 or less.
Entrepreneur Franchise 500 list rank: 37
Initial investment: $3,985 to $51,605
Initial franchise fee: $2,520 to $44,000
Jan-Pro is a cleaning and maintenance business that cleans commercial, industrial, and institutional areas. They offer home-based franchise options for people who want to own and operate their own business. There are two different options for new franchise owners. One is to be a home-based in-unit franchise, which means the person who will be doing the actual cleaning. The second is the master franchise, who will be managing a cluster of units.
2. Cruise Planners
Entrepreneur Franchise 500 list rank: 75
Initial investment: $2,095 to $22,875
Initial franchise fee: $495 to $10,495
Cruise Planners is exactly what it sounds like; it is a home-based travel agent network that sells full-service travel packages. They are the nation’s largest home-based travel advisor franchise network, so when you join you are joining a team that will give you training, lead-generation tools, and professional coaching and development.
3. Jazzercise Inc.
Entrepreneur Franchise 500 list rank: 81
Initial investment: $3,530 to $12,900
Initial franchise fee: $1,250
Jazzercise Inc. is a dance and aerobics dance studio that has been around since 1969. They are located in more than 30 countries and have more than half a million participants each year in their total-body conditioning program. All Jazzercise instructors are trained and certified before becoming franchised. You have two options for joining a franchise; you can either become an associate instructor, who will just teach, or an Owner Instructor, who will own the franchise.
Entrepreneur Franchise 500 list rank: 170
Initial investment: $8,639 to $296,598
Initial franchise fee: $3,500
Unfortunately, Chester’s has one of the biggest ranges for the initial investment, depending on the location and venue you want to use. Chester’s can be placed as a store-in-store, in a supermarket, or as a stand-alone restaurant, which is why the costs vary so much.
5. Property Management Inc.
Entrepreneur Franchise 500 list rank: 288
Initial investment: $19,850 to $86,800
Initial franchise fee: $15,000 to $45,000
Property Management Inc. helps connect rental properties with tenants, process rent payments, provide inspections and much more. A franchisee would essentially work as a flexible landlord who works with multiple property owners, real estate agents, and more. They have platforms for short-term and vacation, commercial, and residential rentals.
6. Dale Carnegie Training
Entrepreneur Franchise 500 list rank: 295
Initial investment: $19,700 to $174,500
Initial franchise fee: $10,000 to $30,000
If you are looking to make a real impact and help improve other individuals, then Dale Carnegie Training could be a perfect fit for you! They offer courses on a wide variety of topics including professional development, effective communications and human relations, and leadership training for managers.
7. Coffee News
Entrepreneur Franchise 500 list rank: 354
Initial investment: $9,750 to $10,750
Initial franchise fee: $8,500
Coffee News is a free weekly publication that is sent out to restaurants, coffee shops, and hotels in the local area. The publication includes news stories and other content, but you make money by selling ad space. Coffee News allows their franchisees (which they call publishers) to create their own schedules and encourages them to make a difference in the community. They also provide three-day training at their international headquarters and will pair you with a mentor to make sure you get started off the right way.
8. Padgett Business Services
Entrepreneur Franchise 500 list rank: 423
Initial investment: $20,200 to $99,975
Initial franchise fee: $15,000 to $56,000
Padgett Business Services’ franchisees will help their clients with bookkeeping, tax preparation, payroll services and more. They target small business owners who have limited time to spend on financial issues. If you are an accountant who is looking to work for yourself, Padgett could be a good transition and investment.
9. Christmas Decor
Entrepreneur Franchise 500 list rank: 444
Initial investment: $19,550 to $62,250
Initial franchise fee: $11,400 to $31,900
Christmas Decor is only a seasonal decorating business, but depending on what you are looking for, it could be perfect for you! There are almost 300 franchisees nationally, and many of them had no decorating experience when they first joined Christmas Decor.
10. HappyFeet Legends International
Entrepreneur Franchise 500 list rank: 456
Initial investment: $22,500 to $29,400
Initial franchise fee: $15,000
HappyFeet Legends has been around for more than 25 years, helping to teach children soccer. Children as young as preschool learn soccer skills, aided by stories, nursery rhymes, and songs.
Many of these franchises offer discounts on the investment prices for military veterans. If you have served in the armed forces, it is worth researching to see if the franchise you want has discounts.
There are similar franchising options out there. Don’t just settle for the highest ranked franchise on the list. Take time to consider what your needs are and what each individual franchise has to offer.
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