We’ll cover our top picks of the best low-cost franchises, how much it costs to purchase each, and an alternative that can be even more affordable.
We’ll cover our top picks of the best low-cost franchises, how much it costs to purchase each, and an alternative that can be even more affordable.
It's time to consider franchising if you're prepared to launch a business, but the traditional small business route isn't right for you. What draws many people to franchising is that it seems "safer" and less risky than conventional business models. If you want to be your own boss without having to deal with the market risks associated with a small business, a franchise may be the best choice for you. Instead of building your business from A to Z, you benefit from a proven system to propel you to success.
Using a franchise is pretty straightforward. It is a form of licensing that enables a franchisee (someone who invests in the original franchise) to market a good or service using the franchisor's name. The franchisor's distinctive business know-how practices and trademarks are accessible to the franchisee. A franchisee also gains from the company's current market position. Plus, a franchisor will also give you the tools you need to run your firm.
One common roadblock, however, is the initial investment. Many franchises expect you to pay tens of thousands of dollars to join. Top franchises such as McDonald’s may sometimes require you to invest millions before working with them.
If you’re an aspiring franchisee with limited capital, not all hope is lost. There are various low-cost franchises you can join as a first-time business owner without breaking the bank. In this article, we’ll cover our top picks of the best low-cost franchises, how much it costs to purchase each, and an alternative that can be even more affordable. Read on to find out more.
Dream Vacations is one of the best franchises in the travel industry. They started franchising their business back in 1991.
With Dream Vacations, you’ll be able to run a full-time franchise business from the comfort of your own home. You won’t have to worry about geographical restrictions. All you need is an internet connection to get started. You'll get training on how to run the business at their headquarters in Fort Lauderdale, Florida. During these six days, you’ll be taking courses on subjects such as:
One benefit of working with Dream Vacations is that you won't have to invest in equipment. This partnership also comes with personal benefits - you also get reduced prices and discounts on your future travels.
Here are some details potential franchisees should know about Dream Vacations:
Cruise Planners is another franchise that operates as a travel agency. They’ve been franchising since 1994 and rank as Entrepreneur’s No. 1 travel-based company for franchise owners, a title they’ve held for the past 16 years. The travel franchise specializes in land tours, cruises, car rentals, and resorts.
Just like Dream Vacations, you’ll be running your entire small business from home. Cruise Planners offers 49 hours of comprehensive training at a hotel near its headquarters in Coral Springs, Florida. The training consists of workbooks and PowerPoint presentations to teach you the business. The franchise offers ongoing training to keep your skills up-to-date.
Here’s a look at the numbers:
SuperGlass Windshield Repair is a global leader in car repair. Franchising since 1993, SuperGlass incorporates intensive training to make sure you’re ready for business. Your first week starts at their headquarters in Orlando. You’ll learn everything about glass repair in a lab setting. Your technical training will consist of:
You’ll spend the entire second week with a SuperGlass representative. During this time, you’ll attend pre-made appointments and learn how to present your services to clients. Here’s what you need to know about franchising with SuperGlass Windshield Repair:
Jazzercise is a franchise that offers dance fitness programs in gyms. Their goal is to promote well-being for clients by using dance as a form of cardio. Instructors lead classes through dance routines learned from Jazzercise’s routines database. When you join Jazzercise, you can either become an instructor yourself or manage a center. Franchising since 1982, it’s one of the most accessible franchises on this list.
Franchising with Jazzercise consists of learning about their business model and searching for new members. Other activities include negotiating real estate and exploring new areas. Check out these financial numbers for those who want to own a center:
There’s a lot of untapped potential in the lucrative wedding industry for aspiring franchisees. Complete Weddings + Events has been in the industry since 1974, but they didn’t begin franchising until 1983. Their services include photography, DJing, videography, and lighting. Their headquarters are in Omaha, Nebraska.
Once accepted, you’ll receive complete owner training where you’ll have lessons on:
After the training, you’ll receive a follow-up from the franchise to keep you on the right track. Here’s how much you should expect to invest when you join Complete Weddings + Events:
TSS Photography has been franchising since its launch in 1983. Based in Oklahoma City, their services focus on taking photos during school and sports events. It’s the perfect franchise opportunity for anybody with a passion for photography.
One bonus with TSS Photography is that you won’t be paying any royalties. The franchisor makes money from the markup of its products instead and charges a monthly fee rather than a percentage of sales.
If you qualify, the franchise will invite you to their TSS University, a four-day training program. During this course, you’ll be receiving training on:
Here are some relevant numbers you should know about TSS:
Stratus Building Solutions is a cleaning franchise that provides eco-friendly cleaning services to meet janitorial needs. They service office buildings, restaurants, malls, and more. Based in Los Angeles, California, they’ve offered franchising opportunities for aspiring entrepreneurs since 2006.
You’ll go through over six hours of on-the-job training and 11.5 hours in the classroom. During this training, you’ll be learning about the following subjects:
How to manage billing and finances
Stratus provides business loans for initial franchise fees, inventory, and other start-up costs. Here’s what it will cost:
As you can see, there are many lower-cost franchise opportunities out there to launch a new business, but they’re still pricey. While it’s possible to start franchising for under $15,000, there are other costs to consider, both financially and from a brand flexibility standpoint.
You’ll still have to pay for things such as royalty fees, and you don’t have creative control over the details of operations and branding since you’re bound by your franchise agreement. Ask yourself what you want to get out of being a franchise owner. Is it a path to profitability? Is it being your own boss?
There are more alternatives to the franchise model itself, with Hoist being one such platform. Hoist provides an innovative and enhanced method of owning a painting business for less than a tenth of the price of a franchise. While there are franchises that charge a low initial fee, the investment needed to actually run the business can start from $150k and go much beyond as well. With Hoist, however, all you need to pay for is a yearly subscription of $8k, and this covers everything from initial training to marketing materials to customer relationship management and even continuous coaching.
And the icing on the cake? Providing the quickest turnover time for you to set up your business from 0 to live, Hoist takes only 30 days, while most franchises take up to 180 days.
We’re glad you asked.
If you want some of the benefits of a self-employed business model without the qualms of a sole proprietorship, then Hoist is your best offer!
If you want to scale your businesses at your own speed, have complete control over your business, and have no contractual responsibilities, then partnering with Hoist is the ideal business option for you. Our model provides the benefits of a franchise system with nearly none of the cons, allowing you more freedom than conventional franchises. While franchising models might not be ideal for you, Hoist provides a variety of services that are unmatched in the industry.
At Hoist, we believe that business ownership should be as easy and affordable as possible. Here’s what separates us from franchises:
Usually, when starting a franchise, You will need to have a specified amount of liquid capital on hand. In addition to this, you'll need enough money to pay setup costs and support the growth of your business. The franchisor will also set additional sales targets for you to meet in order to maintain your position with the company. Your franchise agreement might not be renewed if you don't meet certain sales goals. However, at Hoist, we minimize your additional expenditures by taking care of a number of business necessities, including training, website development, lead generation, finding subcontractors, and more - all for one, flat fee!
Traditional franchise training cycles frequently follow a predetermined schedule and are rigid. We can assist you if you feel like you are losing your way in this process. You'll have access to our extensive course collection, discussion boards, and one-on-one coaching to help you.
You may be independent with Hoist, but you are never alone!
When looking to start a business, it’s good to know that you have various options. Franchising can be an affordable solution, but focus on what you want long term. Traditional franchise opportunities only enable the proprietary business to be visible; personal or individual brands are not encouraged. If you’ve always dreamed of independence and starting your own business but don't know where to go, go to Hoist. Whether you are a visionary beginner or an experienced professional, we have all that you need to get your entrepreneurial goals soaring.
We can help you as you work to build a successful business in the profitable and growing painting industry. At Hoist, our priority is growing your brand, not ours. This implies that you are in charge of your company's brand, identity, and every other aspect, but we will support you at every turn. We begin working the moment you become an owner, even before your firm goes online. With everything from training to recruiting support in one place, we ensure that launching and running your business is speedier, more effective, and requires less work from you.
Learn more about how Hoist works here.
Are you a painter? Grow your business with Hoist. We’re the sales tool for winning more jobs in less time.
