Nowadays more and more people are getting into owning businesses and startups. It is the dream of many people to become the owner of any business. But the problem for these people is they do not know how to start a business and where to begin their entrepreneurial journey. They have the investment and the entrepreneurial skills but many of them are afraid to start a business from the ground up. They are afraid to lose their investment and they are not sure if they can run a new business or sustain its growth.
Therefore, for this kind of person who wants to own the business but does not wants to start the business from scratch, the safest path for them is looking into the cheapest franchises, which you can open at a very low cost. It is one of the easiest ways to own a business without the challenges of starting it from the ground up. You can own a cheap franchise of any brand that is in business for years or decades and you will not have to worry about losing your investment in starting a new business. You should buy any franchise who have a low cost but the brand sales and profitability should be stable. One of the other most appealing reasons for owning a franchise instead of starting a new business is when you are buying a franchise you are not just buying the franchise but also buying the operating details, advertising campaigns, and marketing plans of the brand. Buying a franchise whether it has a low cost or high cost but if the sales and profits of this brand are not good or the company has been at loss for time then you should never invest in this brand even if it is the cheapest franchise available.
Following are five of the cheapest franchises to open. So, if you want to buy any low-cost franchise than these franchises should be your priority.
1. Cruise Planners
One of the cheapest franchises you can buy is the franchise Cruise Planners. It is one of the most famous cruise and vacation planning companies in the United States. Cruise Planner is one of the representatives of American Express. Cruise Planners offers holiday packages which include cruise trips and land-based vacations. Cruise planner in Carol Springs, Florida. A veteran travel agent Michelle Fee started this company in 1994. The franchising of Cruise Planners began in 1999. If you are looking for a low-cost and also a famous franchise then buying the franchise of Cruise Planners would be one of the best options for you.
The initial cost of buying a franchise of Cruise Planners is 10,995 USD. The annual royalty fee is 1% to 3% of all annual commissionable fares. The total number of franchises of Cruise Planners is 2.569. The annual average sale of a franchise of Cruise Planners is 273,978 USD.
2. Showhomes Home Staging:
If you are looking for a low-cost franchise to buy and have a little bit of interest in beautiful home decorations then Showhomes Home Staging is one of the best options for you. It is one of the most famous companies in home decoration and furnishing. Showhomes Home Staging takes vacant houses and the houses of other people and sells them after furnishing and making them stylish.
The initial cost of buying the franchise of Showhomes Home Staging is 10,000 USD. The in-person training in CRM software, website creation, and Search Engine Optimization at the headquarters of Showhomes Home Staging is included in this initial cost. The royalty fee is 10 percent of the gross revenue annually. There are 55 franchises currently operating in different states. The annual average sale of a franchise of Showhomes Home Staging is 377,258 USD.
3. Dream Vacations:
Dream Vacations is one of the most well-known home-based travel agencies in the United States. Dream Vacations was started in 1991 and right now, there are more than 1,200 franchises of Dream Vacations that are providing services all over the United States.
The start-up cost of opening a franchise of Dream Vacations is 9,800 USD, which includes training in website design, invoice and booking software, and ongoing support on how to build your business at the headquarter of Dream Vacations situated in Fort Lauderdale, Florida. The annual royalty fee is 1.5% to 3% of all annual commissionable sales. The annual average sale of a franchise of Dream Vacation is 336,971 USD.
4. Motto Mortgage:
Motto Mortgage was launched in 2016. Motto Mortgage connects mortgage bankers, mortgage brokers, and real estate agents to ease the effort of homebuyers. Getting a mortgage is very annoying and exhausting for many people who want to buy a home so by using the services of Motto Mortgage homebuyers can easily shop for a mortgage. Different owners independently own each franchise of Motto Mortgage.
A franchise can get started with a 12,500 USD start-up cost. Other than a startup, cost there is an additional initial investment of 47,800 USD to 68,100 USD. A three-day mortgage broker training at the headquarter of Motto Mortgage in Denver is included in this cost. There are no royalty fees you have to pay in starting 6 months, after the 6 months the royalty fees will be 4,500 USD per annum.
5. Image One:
Image One was started in 2010 and provides cleaning services for commercial buildings and offices. The company started franchising in 2019 and now has more than 100 franchises across the United States.
The start-up cost of buying a franchise of Image One is 15,000 USD. This startup cost includes proper training in commercial cleaning methods, equipment, cleaning supplies, money, billing, paperwork, collecting, marketing, and ongoing support. Image One also helps you with insurance and gets you discounts on additional equipment, which is also included in this start-up fee. The annual royalty fee is 10% of the overall annual gross revenue. The average sales of a franchise of Image One are 200,078 USD usually.
So if you have an entrepreneurial mind and starting a new business seems intimidating for you then opening a cheap franchise is the best way to start your entrepreneurial journey. Buy any one of the above franchises and achieve your dream of owning a business.