Affordable Franchises That Offer Incredible Value
Have you ever heard the commonly used phrase, "You get what you pay for"? It's used frequently in business and many times when considering what value is being offered by a seller. Well, it seems that this proposition just isn't true in franchising. So many of the excellent franchise offerings on the market today are being presented at incredible values and extremely affordable investment ranges. There are several reasons for this, but the primary driver is the increasing volume of home-based franchise businesses which lowers the cost of the opening investment to start the franchise.
Let's discuss some of these franchise offerings and what they bring to the market. First, when some asks me, "Mr. Conner, what franchise would you recommend for me?" One of Franchise Marketing Systems first responses is to ask about available capital and what sort of investment range is feasible for a potential franchise investor. Some franchise systems will automatically be ruled out if the money doesn't add up. But given the amount of affordable franchise offerings, there are plenty to choose from with even a modest investment amount.
First, service businesses such as the new painting service franchise, Richard's Painting based in North Carolina, can be started with a very low initial investment. Franchisees are provided with a proven training platform and offered all of the tools, technology and marketing programs needed to find and close new business, but the capital requirements are quite low.
Ideal Home Care, an in-home staffing business that staffs nurses in the client's home is a business that also can be operated from a home office location and doesn't create a significant capital burden to new franchise investors.
Even brands in traditionally higher investment range categories can now be purchased for lower investment ranges such as WokWorks, a mobile food card operation based in Philadelphia creates a food service franchise opportunity for less than $50k start up. All Paws Pet Wash offers a simple, add-on franchise model for pet services which can be started for less than $20k. Another great one on the market is Bloomin Blinds which sells and repairs blinds in people's homes and businesses.
All of these businesses boast excellent unit level economics and present an opportunity to see unheard of returns to the initial investment. One element that I've seen as a common trait amongst affordable, lower cost franchise systems is that they do require an active owner operator in most cases. Someone who is involved in the business and most likely needs to go out in the field and promote the services offered. With that in mind, I frequently recommend lower investment options because they create the potential for an incredible financial gain and open up the doors to entrepreneurship and business ownership to people who previously didn't have much to choose from.
Today's franchise market offers so many opportunities, I can't stress enough to someone who is considering any franchise, get out in the field and try doing what you are considering investing in. Most franchise systems will allow you to come to a discovery day without commitment and you should do your due diligence and go out in the field to meet with other franchisees as well before investing in any franchise system.
Christopher Conner is the President of Franchise Marketing Systems and has spent the last decade in the franchise industry working with several hundred different franchise systems in management, franchise sales and franchise development work. His experience ranges across all fields of franchise expertise with a focus in franchise marketing and franchise sales but includes work in franchise strategic planning, franchise research and franchise operations consulting. For more information on how to choose the right food service franchise, contact Chris Conner at Chris.Conner@FMSFranchise.com