Multi-Unit Franchise Experts

Franchise Guide

The Most Profitable Low-Cost Franchises

When you are laid off from your job, it can be a difficult and emotionally taxing experience. The immediate financial concerns that ensue only add to the worry and stress during these challenging times. The promise of success that franchise ownership holds can be a beacon of hope in the midst of the layoffs and tumult of life. To make sure you have the best chance of receiving such promise, we’re here to help you identify the most profitable low-cost franchises to open after a corporate layoff.

In the face of job loss in the corporate world, there is a rapidly growing trend of entrepreneurs looking towards franchising to create a new career path and extra income. It is for this reason that we wanted to dedicate this article to highlighting some of the most profitable low-cost franchises that are most beneficial for those facing a corporate layoff.

Any new franchisee needs know the cost of opening or investing in a franchise, such as the investment required for initial fees, the units needed to be purchased, the agreement length, estimated profits, and the ongoing royalties and fees. All of these considerations can be daunting, especially when faced with a tighter financial outlook after a corporate layoff. To make sure your franchise pick is an investment that will be beneficial, we decided to take a look at the most profitable franchises that offer a low-cost entry into franchising.

Each franchise is unique, and you should always do your research before deciding to buy-in. Luckily, there are a host of great franchise opportunities out there for individuals facing corporate layoffs, ranging from home services and food service to retail franchises. Here we’ll discuss the most profitable low-cost franchises from a few industries that entrepreneurs with a limited budget might choose from.

Food Service Franchises

Many people experience job loss during lay-offs. But do not fret, as the food service industry provides a viable option for those searching for a job with low financial entry and potentially high rewards. The food service franchises listed below are prime examples of low-cost franchises that have proven to generate substantial profits:

• Arby’s – Arby’s is a fast-food chain that focuses on high-quality, freshly prepared food. The cost to open an Arby’s franchise is approximately $150,000, while their agreement length and unit purchasing standards vary from region to region.

• Baskin Robbins – Baskin Robbins is one of the world’s most iconic ice cream brands, and the cost to open a store (franchise fee, training fee, and more) ranges from just $5,000 to $25,000.

• Jon Smith Subs – Jon Smith Subs is a fast-casual restaurant specializing in subs, salads, and wings. The cost to open a Jon Smith Subs location is about $70,000, along with a 5% ongoing royalty.

Home Services Franchises

The home services industry is one of the most profitable franchises out there, as homeowners look to contract various services from a home or residential service provider. There are various different types of franchises available in the home services industry. Here are some of the most profitable and low-cost franchises:

• Home Depot – Home Depot is one of the most well-known home service franchises out there, with the average cost to open a store being approximately $250,000.

• Handyman Connection – Handyman Connection is a handyman service franchise that helps homeowners with maintenance and repair work. The cost to open a franchise with Handyman Connection is about $40,000.

• Merry Maids – Merry Maids is a house cleaning service, and the cost to open a franchise with this company is approximately $37,000.

Retail Franchises

Retail franchises are probably the most common type of business out there, so there are various different outlets for new entrants into this industry. Retail franchises provide an opportunity for entrepreneurs to open their own stores or kiosks, without paying hefty fees for a full store. Below are some of the most profitable and low-cost retail franchises:

• Koodo Mobile – Koodo Mobile is a Canadian mobile service provider that allows entrepreneurs to open their own kiosks. The cost to open a Koodo Mobile kiosk is approximately $35,000.

• Glass Doctor – Glass Doctor is a glass repair and replacement company. The cost to open a Glass Doctor franchise is approximately $50,000.

• Ace Hardware – Ace Hardware is the most popular home improvement franchise out there, and the cost to open an Ace Hardware franchise is approximately $150,000.

These are some of the most profitable low-cost franchises to open after a corporate layoff. When researching for a franchise to invest in, make sure you do your due diligence in order to receive maximum potential returns.

So there we have it – the best of the best, when it comes to the lowest cost, highest returns franchises. Whether it’s food service, home services, or retail you’re looking to get involved in, these franchises offer the ideal opportunity to break into the world of business ownership on a budget.

Topics:

Franchise,

Low-Cost Franchises,

Profitable Franchises

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