As of 2022, there are more than 790,000 franchise establishments in the U.S. Millions of people have become entrepreneurs through franchising in multiple industries. If you are looking for franchises with low startup costs, there are four main options:
- Specialized expertise franchises
- Home-based franchises
- Learned skill franchises
- Leadership franchises
Specialized Expertise Franchises
Specialized expertise franchises highlight a specific skill set. If you’re an accountant or bookkeeper, you could investigate franchises in the financial services sector. If you worked as a fitness professional, or have a similar experience, you could open a fitness training franchise.
There is also the physical side of specialized expertise. If you worked for a contractor, you could seek out a general handyman or painting franchise. If you are an avid gardener, you may choose a landscaping franchise opportunity.
Home-Based Franchises
Home-based franchises are often low-cost because of their lower overhead investment. Many of these will be single owner-operator roles since you’ll’ be working out of your home. Examples include dog training, medical billing, travel agent services, etc. Some specialized expertise services noted above could also be operated from home if you’re working virtually and are not meeting customers in person.
It’s not uncommon for a home-based franchise to be smaller, but that doesn’t mean it won’t be profitable. There are many low-cost franchises with high-profit potential, especially if they’re scalable.
Learned Skill Franchises
Another category with ample franchises under $100K is where you use a well-developed franchise model to learn a business from scratch. This is popular for people looking for a change from their current line of work.
Some learned skill franchises might include cellphone repair, security services, senior home care, tutoring, installing window coverings, or performing home inspections. In these examples, you learn the new skill through training provided by the franchise and rely on the franchise model to guide you through the operation of the business.
Leadership Franchises
This type of affordable franchise appeals to someone who wants to be the business owner, but not necessarily the business worker. Merry Maids is an example of this opportunity.
Merry Maids is a residential cleaning service where the franchise owner is trained in all aspects of the business, but the cleaning work is performed by employees. The owner focuses on growing the franchise to its fullest potential. This is a popular franchise choice for people who want flexibility in their work.
Evaluating Franchises Under $100K
A low-cost franchise can certainly be profitable with the right business model characteristics. These include:
- Industry strength: Be wary of trending businesses that can come and go quickly and choose an industry with long-term profitability. With Merry Maids, there are always people who need their homes cleaned, especially as the population ages.
- Smart royalties: This can be hard to judge but make sure the franchisor is putting royalties into business growth. At Merry Maids, we invest in both national and local marketing, so we are constantly marketing the brand for our franchisees.
- Revenue generation: Every franchise should have multiple ways to earn money. Merry Maids is a low-cost cleaning franchise with a variety of services and an expansive client base. We also have strong recurring revenue streams which are essential to a solid bottom line.
- Future investments: Consider expenses your franchise might have a few years down the road. For example, a franchise that uses technology will have updates and new programs regularly which may cause additional expense (and time) to you as a franchisee.
- Scaling potential: Always choose a franchise that is scalable, even if you don’t plan to grow the business past the owner-operator model. When you sell, someone else may want to seize the opportunity for more income and that will add to your franchise’s value.
- Exclusive territories: Merry Maids offers exclusive territories because it builds a better business opportunity and fosters stronger trust between the franchisor and their franchisees. The exclusive territory is an important commitment from the franchisor.
Merry Maids: A Low-Cost Franchise with High-Profit Potential
Many of our franchisees did not come from the cleaning industry; they were entrepreneurial thinkers who wanted to run and grow a business. To qualify for Merry Maids, we recommend you have $50,000 in working capital for this to be the right franchise for you.
We have a long history of service in this industry and a solid franchisee base that shows a consistent pattern of financial results throughout our brand. Merry Maids does a great job for our homeowner clients and provides a strong and stable opportunity for potential entrepreneurs.
Talk to us and see how Merry Maids could be the franchise business opportunity that checks every box for your future. Fill out our online form or call 1-888-296-9031.