All financial products, shopping products and services are presented without warranty. Franchise fee: $4,500-$8,750 Initial investment: $16,250-$220,345 Royalty fees: $200-$210/month Average annual sales (company-wide): $1.9 million No. What Is the Cheapest, Most Profitable Franchise to Own? document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. Starting the franchise empire in 1989, there are now over 50+ service offerings and over 4,000 franchisees nationally. Lowest Initial Investment: Cheap Franchises Under $1,000 Franchise Fee Cheap Franchises Under $5,000 Franchise Fee What Franchise Can You Open for $10000? Weve saved one of the best for last, since its sure to leave you smiling: Skyhawks Sports is one of the most unique low cost franchise opportunities, giving franchise owners a chance to give back to their community while they grow their business. There are lucrative low-cost franchises you can launch with $15,000 or less, in fields ranging from event planning and real estate to travel. But that initial franchise fee can really limit the options business owners have. Probably not, but these businesses dont require business loans to get started because it costs less than $10K for your business. They have multiple ways to pay franchise fees, an amazing founder, and are a franchise for $10K in revenue in your first two months. This makes it among the most unique as well as the most affordable franchises. Finances will start improving quickly when you dont have to pay small business loans. When buying a franchise business, its important to know that there are options at a range of price points. The most common way to fund your small business is to do it yourself through your savings or credit cards. She is based in New York City. The franchise fee covers extensive training, marketing materials, and ongoing marketing and operations support for franchisees. Among these and other factors, franchisees also need to have at least two years of management experience under their belts, a strong credit history, a minimum net worth of $350,000 and $100,000 in liquid assets. Franchise fee: $1,000 Initial investment: $1,000-$3,000 Royalty fees: 20-30% Average annual sales (company-wide): $7 million No. Locations: 277. Operating more than 200 franchise locations in upward of 40 states, Property Management Inc. offers franchisees the technology, training, and marketing solutions needed to be successful. can be pretty steep. Here is a list of our partners and here's how we make money. Do not sell or share my personal information. Brandon Boushy started his company after years of working in customer service, engineering, and project management. While the cost of certain franchises are even outrageous. Whether youre considering one of the 14 food franchise opportunities we highlighted here or another franchise opportunity youve come across, its important to understand how to evaluate which of those franchises is the right fit for you. Keep reading for low franchise fees. Its the third-fastest growing franchise in the country, as well as one of the best low cost franchises thanks to their Janitorial Unit Franchise option, a great way for new business owners to open a new franchise location with a low initial investment. For aspiring business owners who love kids, fitness, and the great outdoors, a. could be the perfect fit. The SBA 7(a) loan is a particularly attractive choice for those looking into low cost franchises to buy because it's highly applicable to franchise purchases and business acquisitions. (Another fun fact? Interested in starting at a higher level of investment? At the technician level, the low initial franchise fee makes it easy to become your own boss. Heres a little something extra! We believe everyone should be able to make financial decisions with confidence. The best part of going to an airport is being met with the smell of freshly baked pretzels courtesy of that Auntie Annes kiosk youre heading to as soon as you get through the security line. She is based in New York City. When you apply, Baskin-Robbins will also evaluate your resume to ensure you have sufficient relevant experience. If youre inspired to become a Dennys success story in your own right, youll first need to have $500,000 in liquid capital and $1 million in net worth a pretty tough threshold. NerdWallet's ratings are determined by our editorial team. If the purchase price of the franchise youre buying into has high initial equipment costs, you might be able to use. of U.S. franchises: 800. Each of these loan products has slightly different benefits, so make sure you find the one that will be right for your future franchise purchase. American Business Systems is the largest independent medical billing company in the United States and one of the best low cost franchise options for entrepreneurs interested in the healthcare industry. Courtside seats start . of U.S. franchises: 397. Click on any of the headings to find out what are cheap franchises to start. Focusing on mobile service has allowed this franchisor to keep pace with customer demands, while also keeping startup and overhead costs low for franchisees. Then consider Cruise Planners, a franchise representative of American Express, which is one of the most widely recognized cruise planning companies in the country. Others have liquidity requirements. Our opinions are our own. The franchises that made this year's list of the Top Low-Cost Franchises have average owner satisfaction 12% higher than our industry benchmark, making them all excellent options for entrepreneurs considering franchise ownership. But at a minimum, youll need to have $100,000 in liquid assets and $200,000 net worth per unit. They were top among cheap franchises 2022, ranked #1 across industries by Franchise Business Review. You can conduct the classes in your own community and on a schedule that's convenient to you. To join the Auntie Annes network, youll need to have prior business experience, and experience in the restaurant industry is preferred. Request all available informational materials, evaluate their training and support systems, reach out to other franchisees in their network and ask questions liberally. Operating more than 200 franchise locations in upward of 40 states. 2. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. of U.S. franchises: 100. Estimated total initial investment: $200,300 to $504,300. Approximately one-third of the franchise companies we survey have initial investments starting under $100K. Krispy Krunchy Chicken is among the top cheap restaurant franchises both for profitability and franchisee experience. LIME Painting - Painting company for high end homes and businesses, $20K liquid capital required, total investment anticipated $124,700 - $162,375. In exchange, youre responsible for your locations daily management and operations in other words, the nuts and bolts of running a business that motivated entrepreneurs are hungry for. NerdWallet's ratings are determined by our editorial team. If you meet their requirements, theyll send along a franchise disclosure document (FDD) for your consideration. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. List of Turnkey Home Based Franchises Under $1,000. Buying a Jazzercise franchise involves submitting an initial investment, finding an ideal location, and polishing up those dance moves. A publicist for the company tells Delish that the total investment to get things moving ranges from about $1.2 million to $2.85 million. McDonald's. Franchisees keep all of their profits, and the time commitment can be minimal. By entering the franchises established framework, youll benefit from the businesss name recognition, business model, training, management support, extensive network of vendors and positive reputation. Not only is it among the cheapest franchises to start, its low ongoing costs make it arguably the cheapest franchise to own, period. Need a franchise? It's especially important to document the loan and repayment expectations in a written agreement before funds exchange hands. Our partners compensate us. Founded in 1969, Jazzercise is no longer all about leg warmers and '80s music. Franchise fee: $20,000-$50,000. As one of the worlds largest glass repair companies, Superglass Windshield Repair is a cheap franchise to open and a great choice for entrepreneurs in the automotive sector. of U.S. franchises: Information not available. If youre approved, Pizza Hut will provide comprehensive training and marketing support, as well as support in opening your location. Subway. It makes sense that Ben & Jerrys lists social consciousness and a dedication to running an ethical business as two of their eligibility requirements. Correction: This story has been updated to reflect that Cruise Planners is based in Coral Springs, Florida and Motto Mortgage has 100 locations and start-up costs are $12,500 in cash, and an initial investment fee of $47,800-$68,100. The Coral Springs, Florida-based company was started by veteran travel agent Michelle Fee in 1994 and began franchising in 1999. If you have experience with kids or simply want to give back to your community, consider opening a Lil' Kickers franchise for a rewarding business experience. The lawn care and landscaping industries are ideal for first-time entrepreneurs because you dont need special skills or years of experience to get started. While the franchise fee is on the higher side, the other startup costs are minimal, and they have financing options available. The Franchise Business Review, a leading market research firm that sort of acts as the "Consumer Reports" for the franchise industry, recently identified 10 low-cost franchises that let you get started for $15,000 or less in cash. For aspiring business owners who love kids, fitness, and the great outdoors, a Soccer Shots franchise could be the perfect fit. Opportunities to become a Soccer Shots franchisee are limited by geographic territories, but many franchise locations are available in the central and western U.S. Dream Vacations is another low-cost franchise offering travel agency services that you can run out of your home. Top 10 Cheapest Fast Food Franchises. Find the money to get going: Compare the best small business loan options right now. Youd be hard-pressed to find a town in the Northeast that doesnt have at least one Dunkin. The initial franchise fee grants you the license, as well as the recipes, training, operating manuals, and guidance throughout the opening process. Some of these franchises offer financial incentives for certain qualifying members, such as. Before joining NerdWallet in 2020, Sally was the editorial director at Fundera, where she built and led a team focused on small-business content. Cheap Franchises For $10K or Less Franchise Fee Cheap Franchises: Restaurant Franchise Businesses for over a decade. Teddy Bear Mobile. And it's continuing to grow at a 60% rate year over year. Potential franchisees can get started for $10,000 which includes in-person training at the company's Nashville headquarters, proprietary CRM software, website creation, hosting, and SEO, and a one-on-one business coach. If youre interested in buying a Baskin-Robbins franchise, youll need to meet their minimum requirements. The investment included equipment, training, ongoing support from the franchisor and two accounts to get started. You dont need a plumbers license in most states to own drain cleaning franchises, and the franchise fees include training in use of their patented drain cleaning equipment.. They dont provide financing, but Pizza Hut is listed in the SBA registry, which means Pizza Hut franchisees can receive expedited financing through the SBA if their loan application is approved. NerdWallet strives to keep its information accurate and up to date. Franchise fee: $2,520-$44,000 Initial investment: $3,985-$51,605 Royalty fees: 10% Average annual sales (company-wide): $47 million No. Their mission is to provide afterschool and summer activities for kids ages 4-14, whether thats a baseball, football, or soccer program, a sports tournament, or sports-based summer camps. That makes this an ideal franchise for creative entrepreneurs like writers and photographers, as well as community organizers and others who are plugged into their local cultural scene. All financial products, shopping products and services are presented without warranty. The Proforma Success System gives franchisees all the tools they need to plan and scale their business, with a worldwide support center and coaches for ongoing help. Its also a great. And it's continuing to grow at a 60% rate year over year. Interested in the food industry? We will start with some of the rare options at the very low end of the investment spectrum. 12 best low-cost franchises for aspiring business owners, Interested in owning a travel company? In our list above, Mosquito Squad, Stratus, and Soccer Shots all offer some type of internal financing assistance. Their management program encourages franchisees to grow their business ownership. Franchisees get access to ongoing marketing and operational support in addition to the robust training program. They provide franchisees everything they need to operate, including training, software, and ongoing support. The first step is to look closely at each franchises investment requirements and whether youre financially capable of those investments. Unfortunately, Taco Bell doesnt make much information about owning a location as readily available as many other companies do. In our ranking below, the initial investment amount includes the franchise fee. If you've ever considered running your own . There are indeed high cost franchises. Published on: May 27, 2020 Author: Jashima Comment: 0 Are you aspiring to start a business? Franchise fee: $570 Initial investment: $1,545-$10,370 Royalty fees: 15% Average annual sales (company-wide): $131 million No. But Cold Stone Creamery also makes this list for their accessible initial franchise fee, which may be as low as $10,000. They offer two franchise models. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Lil' Kickers offers a great cheap franchise opportunity with a small initial investment. Its among the best low cost franchise opportunities for entrepreneurs. is a low cost franchise business and the #1 commercial cleaning services franchise in the United States. To help. Dickey's Barbecue Pit is a storefront, Texas-style BBQ concept with smaller startup costs than many other fast food concepts. Founded by chef Barrett Allman, Chefs for Seniors is one of the best low cost franchises for cooks and food lovers. Started in 1991, the home-based travel agency specializes in both land and cruise vacations and counts more than 1,200 franchisees today. The initial franchise fee is all-inclusive, covering the extensive training program, lifetime 24/7 phone support, and all the marketing and tools to support their 12 income-generating, Promotional products are a $150 billion industry, and. Wise Coatings is the nations leading concrete floor coating company and one of the best franchises to buy for new business owners looking for a turnkey business for sale in the home services industry. It's an industry that generates more than $ 2.1 trillion and employs 18 million Americans. For your franchisee application to be considered, you need to have at least $400,000 in accessible, liquid capital per unit and at least $750,000 in total net worth for a single unit (multi-unit net worth requirements are higher).