What are some of the Best Franchises to Own?
Any entrepreneur looking for a combination of support and freedom will find franchises to be a great business option. This business model lets one enjoy the experience and branding of a bigger company without actually having to work for it. The only downside to investing in a franchise is the price, which can be restrictive. In this article, we have compiled a list of franchises that cost less than $100,000.
RE/MAX – Real Estate
The real estate franchise RE/MAX requires an initial investment starting from $37,500 and a $35,000 liquid cash requirement. It is in the top 5 of the best 500 franchises to own and costs much less than the other franchises in the top five. The company is headquartered in Denver and first began franchising back in 1975.
7-Eleven – Convenience
This convenience store franchise has been consistently ranking in the top 5 over the past few years. Its price range is admittedly flexible, ranging from $38,000 to over a million. The company’s head office in Dallas, and it has been franchising since 1964. In addition, the minimum initial franchise fee is $10,000.
Jan Pro – Commercial Cleaning Service
Jan Pro has an initial fee of $2,520 and an initial investment of $3,985 (both minimum). The commercial cleaning service has a unique business model with two types of franchises. One is a master overseeing a combination of units. On the other hand, the other is a unit or home-based franchise, which represents the entity that performs the actual services.
UBreakiFix – Tech
UBreakiFix is the top tech franchise on the Franchise 500 list. It provides a wide variety of services, including tech repair and maintenance. To buy this franchise, you need to pay an initial fee of $40,000. Moreover, the total investment cost can vary from $60,000 to $221,000. The company is headquartered in Orlando. It started franchising relatively recently, only 7 years ago.
Kumon Math & Reading Centers – Tutoring
According to most recent data, the tutoring franchise Kumon was ranked under no. 20 on the top 500 franchise list, and began franchising in 1958. Its initial franchising fee is just $1,000. To purchase it, your liquid funds must amount to at least $70,000.
Cruise Planners – Travel
This is a home-based travel agent network franchise selling tour packages, which requires an initial investment of only $2,095. Moreover, the lower limit of the startup franchise fee is only around $500.
Coverall – Commercial Cleaning
Our second commercial cleaning franchise on the list represents one of the strongest sectors. Currently, the company has more than 8,500 locations worldwide. It has been franchising for more than three decades.
The minimum initial investment in this franchise is $16,500. Moreover, you will need to pay a minimum franchise fee of $13,500.
CPR-Cell Phone Repair – Tech
Another tech franchise on the list, CPR-Cell Phone Repair comes with a fee of $37,500 and a minimum initial investment of $2,000. The franchisee is required to have a net worth of at least $200,000, but you can apply if you have more than $150,000.
To recap, cleaning and tech seem to be the strongest franchising sectors at the moment. Follow the market closely and stay tuned for any developments.