A common myth is that it’s very expensive to buy any type of franchise business, when the truth is that there are many low-cost franchises that don’t require huge up-front investments. Because they are more affordable, these franchise systems enable a broader and more diverse group of entrepreneurs to break into franchise ownership and become successful business owners.
Why Are Some Franchises More Affordable than Others?
Low-cost franchises are typically more affordable because they don’t require as much overhead as other franchise brands. For example, many affordable franchises do not require large brick and mortar buildings. There are some that you can run fright from your own home, and others like MaidPro that require minimal space. MaidPro requires a small retail space of 650-850 sq. ft.
Many low-cost franchises also don’t require a lot of inventory. Just think about expensive franchises like fast food restaurants and the massive inventory of food that they must have on hand to serve customers. Low-cost franchises don’t typically require you to spend thousands of dollars up front to purchase inventory or additional money to pay for storing it.
Can I Still Make Big Money with Low-Cost Franchises?
While the potential return on your investment will vary from brand to brand, there are many low-cost franchises which offer good earning potential. With MaidPro, for example, you’ll have the opportunity to earn an income comparable to brands in other industries that require much higher initial investment costs.
Where Can I Find Low-Cost Franchises?
Franchise Business Review’s list of the Best Low-Cost Franchises is a great place to start your search. The annual list names and ranks affordable franchise brands based on feedback from their own franchisees. Unlike some other lists, franchise brands cannot pay to get on FBR’s list; they are selected and ranked based on independent surveys.
If you’d like to learn more about owning a low-cost home cleaning franchise, we’d love to speak to you. Contact us today.