When it comes to making a significant career change, many professionals grapple with the decision of whether to start from scratch or invest in a franchise business. The former may involve a financial risk in launching the venture, while the latter may find individuals with limited resources or expertise searching for the perfect opportunity. As it happens, some of the most profitable franchises fall under the $50K mark, making them a great option for those wanting to jump-start a business without taking too much of a financial risk. From fast food to home services, here are a few of the best investments under $50k that aspiring entrepreneurs should keep in mind.
fast food franchises
The fast food industry is huge in the US, with over 200,000 restaurants operating, generating more than $650 billion in payroll and $200 billion in profits. As such, it stands to reason that investing in one of these franchises could be a profitable move for any budding franchise owner. The advantage many fast food franchises have is low overhead and low start-up costs, making them accessible to those with less than $50K to invest in their business.
Some popular fast food franchises include Subway, Domino’s Pizza, Taco Bell, Burger King, KFC, Culver’s, Wingstop, Jimmy John’s, and Pizza Hut. All these chains have an impressive record of success over the past few decades and have become synonymous with American convenience food. The benefit of investing in these franchises is that many of them have been around for years and have attained a great customer base. Furthermore, the franchisors provide an abundance of resources to franchise owners, from training and marketing materials to connections with local suppliers.
Home service franchises
Though the fast food industry may be profitable, the home service sector has exploded recently, with demand for residential services ranging from construction to home maintenance. Home service franchises are often a smart investment for those with limited capital, as they require less start-up costs than other businesses.
Some profitable home service franchises that cost less than $50K include Handyman Connection, Home Care Assistance, Blue-Pros Home Improvements, 1-800-Flowers, Mr. Handyman, and Happy Home Care. These franchises are highly popular in the US, and provide brilliant opportunities for franchisees, as the demand for home service professionals is greater than ever before.
Retail franchises are often a dream come true for those wanting to get involved in the business industry, as they provide numerous profits and potential for growth. While retail franchises can be expensive, there are some opportunities out there that cost less than $50K, such as franchised convenience stores, boutiques, and other retail shops.
Popular retail franchises that require less than $50K to launch include Matter Like Franchising, eCommerce Express Franchising, HomeKart Home Shopping, Pilot Cove Air Shopping, 7-Eleven Franchise, USA SuperShop Franchise, and Bodacious Brands, Ltd. All these franchises provide a variety of retail options to choose from, so prospective investors can explore the possibilities and decide which one best fits their skills and budget.