A franchise model provides proven systems and trusted brand names, but still gives you the freedom to run your own business. Franchising often includes a hefty initial investment, but there are several franchises under 10k that can allow you to get started for little to no upfront capital.
How much does it cost to purchase a franchise?
The cost of buying a franchise varies widely, from franchises under 10k to those costing millions of dollars. Many franchises fall between $100,000 and $300,000. But the exact costs vary by industry and location.
Benefits of Opening a Franchise for Under $10K
If you’re thinking of starting a business, here are some reasons to consider franchises under 10k:
- Less risk: A lower upfront investment means less risk for the franchisee. You’re unlikely to need a loan or extra money from family and friends. Many of these franchises also have low operating costs.
- High chance of profitability: Since you’re starting out with a small investment, you don’t need to earn much to reach profitability.
- Access to proven systems: Instead of starting a brand new business from scratch, franchising offers access to tech, training, and support from successful businesses.
- Brand recognition: Franchising also gives you access to a successful brand name that members of your local community may already be familiar with.
- Location and time freedom: Many affordable franchises are low-cost because they do not require physical locations. You can often run them from home or while traveling and enjoying a healthy work-life balance.
Top Franchise Opportunities Under $10K
If you’re looking for low-cost franchise companies to invest in, here are several franchises under 10k to consider.
1. Social Owl
Social Owl offers a turnkey social media marketing business model. The company provides a white-label business system that you can set up with your own brand online. Then you sell social media packages to businesses and bring in recurring monthly revenue. There is no initial franchise fee. You just pay $279 monthly or buy the annual package for $1,997.
2. Cruise Planners
A Cruise Planners franchise includes a home-based network of travel advisors. The company provides training and demonstration activities, along with a full software system to allow you to run your own franchise from home. The current franchise fee is $6,995.
3. Baby Boot Camp
Baby Boot Camp is one of the top fitness franchises for new moms. Run by Momleta, the low-cost franchise provides stroller fitness classes outdoors. The initial franchise fee ranges from $5,000 to $8,000 depending on the population in your area.
4. Coffee News
A Coffee News franchise lets you create relationships with local businesses and sell advertising opportunities throughout your community. This business can be run from home and is ideal for those with existing business relationships who want to be their own boss. Franchise packages vary by location, but the initial franchise fee generally falls just under $10,000.
5. BuildingStars
The BuildingStars franchise model offers commercial cleaning services for office buildings and other local businesses. It’s a flexible model that you can scale over time. It costs as little as $795 to get started.
6. MobileStamp
MobileStamp offers a turnkey franchise option where you help local business clients build loyalty and rewards programs. Franchise owners help small and medium-sized businesses with punch card mobile apps, deals, and social rewards. MobileStamp collects a monthly fee instead of a traditional franchise fee.
7. Jazzercise
Jazzercise is a dance workout franchise that offers two different franchise opportunities. The class owner franchisee is responsible for facility costs and the business side. And the instructor franchisee is mainly responsible for teaching classes. For the latter option, the initial investment just includes a one-time franchise fee of $1,250, plus a few ongoing costs like music royalties and equipment.
8. Octoclean
Octoclean is one of the top janitorial franchises serving small business owners and medical facilities. You get your very own exclusive territory and can determine how many hours and resources you want to put into the business. Initial costs vary but may be as low as $8,000.
9. SiteSwan Website Builder
SiteSwan Website Builder offers a reseller opportunity for its web services and business-in-a-box solution. You can build your entire business around this white-label solution or add it to your other offerings like marketing support and social media services. Plans range from $149 to $300 per month.
10. Fit4Mom
Fit4Mom offers a lower-cost franchise than many fitness brands. The company specializes in workout classes for moms. The monthly fee varies, and estimated costs start at about $5,500.
11. Card My Yard
Card My Yard offers yard greeting cards and signs and is one of the top birthday and holiday franchises that can be run largely from home. So upfront costs start at around $3,725.
12. RugbyTots
RugbyTots is a global franchise that offers rugby play for kids. You can start without a dedicated location or lots of expensive equipment. The estimated initial cost starts at around $6,500.
How to Choose the Best Franchise for Under $10K
If you’re ready to start a successful business, there are plenty of low-cost franchise opportunities available. Here are tips for choosing your best match:
- Research available territories: Many franchises under 10k offer exclusive territories. So make sure your area is available first.
- Consider ongoing costs: The initial franchise fee is only one part of the expense. Consider monthly fees, equipment, and marketing tools in your budget as well.
- Look for opportunities that fit your lifestyle: Do you want a full-time business or one you can run in your free time? Different franchises have varying levels of commitment.
- Analyze competitors: Are there similar businesses in your area, or are there opportunities to set your offering apart?
- Find opportunities that fit with your skills: If you’re a skilled marketer, it may make sense to look for franchises that offer related services. But others may excel at other tasks like cleaning or planning dream vacations.
What are the cheapest franchises to buy?
The cheapest franchises to buy can usually be run from home and require little to no equipment. These include SiteSwan, MobileStamp, SocialOwl, and BuildingStars.
Which franchise has the lowest initial franchise fee?
There are several franchise or licensing programs that include a monthly fee instead of expensive franchise fees. These include SiteSwan, MobileStamp, SocialOwl, and BuildingStars.
How much does it cost to start a commercial cleaning franchise business?
Costs vary based on what franchise you choose and your location. The BuildingStars franchise model costs just $795. And Octoclean franchises start at around $8,000.
Can you buy digital marketing franchises for under $10K?
Yes, there are several digital marketing business and franchise programs you can buy for under $10k, including SocialOwl, MobileStamp, and SiteSwan.
What inexpensive franchise is the most profitable to own?
Profitability varies widely by type of business and location. The list above includes several potentially profitable opportunities, including Cruise Planners, Card My Yard, and Fit4Mom.
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This article, "12 Franchises Under 10K You Can Start in 2023" was first published on Small Business Trends
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