Today, we are going to look at an updated list of unique, low-cost franchises that can generate very impressive earnings. They can hit that million dollars per year mark. We are going to start at a 50000 USD investment and work our way down. Before we begin, keep in mind that every one of these franchises has a unique operational model. And it would help if you were sure that you match your skills and business goals to the appropriate franchise. You can invest in the case of these lower-cost franchises.
It is not a restaurant where people are just walking in and buying food, low-cost franchises. Now, if you have these skills, there are some great options available. So, for only a little over 50000 USD, if you have a business consulting or executive or B2B background, you might consider a cost recovery type of franchise.
We have up to about these before on the channel. Several of these available indicate over half a million dollars or more in revenue for their top producers. Now, that is an impressive amount because these businesses are typically operated from a home office and have very low overhead and operational costs. So how these businesses work is using the unique company software and network purchasing power.
After globalization, today, the world has a vast franchise market, with many franchisees operating successfully. Below is the list of 10 best franchise business opportunities that you can start anywhere in the world.
Burger franchisees have endless opportunities. Consumers want to enjoy a delicious meal at a lower price. Why so many burger franchises like Burger King, McDonald’s, enter the market. Many burger franchisees have established a name for themselves in the fast-food industry.
You must have heard about Pizza Hut and Dominos. Yeah, these are the biggest pizza chains as of now. Pizza is considered the top food item in the fast-food industry you can eat by sitting in a hotel or taking it home. The pizza market alone in the USA is Rs. Three thousand five hundred crores, which creates more opportunities for entrepreneurs. Pizza is favourite of all age groups, be it young or old. Even kids love it.
Good food is incomplete without excellent and delicious ice cream. You can start various tasty dessert franchises, including gourmet, Kona Ice, Culver’s, Baskin-Robbins, and Dairy Queen ice cream franchises. It can prove to be your passport for a growing franchise opportunity. The USA’s ice cream industry is estimated to generate revenue of approximately 2.6% to 6.7 Billion USD over the five years to 2020.
The apparel franchise is a significant franchise business opportunity in the USA and outside. New brands have entered the fashion industry, which soon becomes popular. The fashion industry adopts rapidly changing trends, making it a highly profitable business opportunity.
With the increasing per capita revenue of the people, there is a huge demand for international clothing brands. Thus, the franchisees of global brands will also earn high profits in the USA. The American retail market is expected to reach the US $ 1,576 billion by 2026.
Health and Beauty Franchise
People always want to look and feel good, so that the health and beauty franchise can never fall. Health and beauty franchises can be divided into hairstyling, beauty salon, and spa, skincare, dieting, fitness centres, etc. The USA’s beauty and wellness market are expected to reach a high revenue volume, making it a profitable business opportunity.
The idea of pre-schooling is evolving rapidly in the current scenario. Parents are voluntarily spending money to provide the best education to children from the pre-school level itself. Therefore, the pre-school franchise business can become the right business decision.
Education And Training Franchise
The education franchise is a big part of this business, which has vast opportunities. There are various types of education and training franchises like schools, learning centres, training institutes, grooming centres, animation schools, coaching classes, aviation academies, language centres, etc. USA’s education sector is estimated at the US $ 91.7 billion and is expected to reach the US $ 101.1 billion.
The hospitality industry is nowadays progressing brilliantly. The rapidly growing travel and tourism industry has boosted demand in the hotel industry. Thus, investing in a hotel franchise can be an attractive business idea. By 2021, the hospitality market will grow at a 4.0% CAGR.
The entertainment and recreation business offers various franchise business opportunities, including movie theatres, theme parks, amusement parks, game zones, entertainment centres, etc. All types of entertainment franchises. People always hope to relieve the fatigue of their busy schedules and spend some free time. Investment in entertainment franchises will yield high returns.
Travel Planning Industry
These are often difficult to set up if you have no experience or contacts. And finally, at the 10000 $ investment level, you could consider the travel planning industry. It is a franchise we work with, ranked number one in the travel category for 11 straight years. An Entrepreneur magazine, again, home-based opportunity. They have got over 900 existing operators across the USA. And as a full-service travel planner, what you do is you help clients arrange their cruises, hotels, all-inclusive resorts, travel insurance, day trips, destination weddings, and a whole lot more.
The company gives you all the training. It is for about six days. That is in Fort Lauderdale, Florida, and that is followed by ongoing mentoring and continued support. And these days, of course, social media is a massive part of finding clients and making business happen. So, I would suggest that applicants be accessible using the internet to network. No travel planning experience is required, but you should have an affinity for travel and a desire to help others.
Now, because of this massive group’s buying power, you are often saving your customers a lot of money while offering this quality service. If these were not a fit for you, we have got many more.
Hot Business Ideas in the Service Industries
Service businesses are expected to post record-high levels of growth in the next several years in the US market. It is adding 9.3 million jobs by the year 2024. In the goods production industries, job growth is expected to decline, and then the service industry is the place to be. Running a service-based business has many advantages, such as not needing to buy the inventory to customize and scale services more efficiently. Today, I will cover some service-based business ideas that you can start. It does not mean if you have a low and high budget if you do not have a lot of time to devote to your business idea.
Here are some service-based business ideas:
- Attic and Garage Cleaning Service
- Car Washing Service
- Roof Replacement Services
- Windows Repair Services
- Roof Repair Services
- Metal Quonset Hut Installation Services
- Home or Office Organizing
- Self-Storage or mini storage building installation
- Pool Cleaning Service
If you plan to start your service-based business, you can opt for a Quonset structure as they are rigid and can withstand any adverse weather conditions. Owning a Quonset hut in Austin, TX, or any other USA city empowers you to run your business as flat as a pancake.
How You Can Win the Game – Conclusion
Franchisees can save companies money in individual cost centres that include billing, telecom, transportation, waste management, etc. And if any of you have had an energy auditor in your home that shows you how to save energy in different areas, it is the same kind of concept. A huge benefit of these businesses is that there are no upfront fees to the company. So, the service is provided fee-free, and the company pays only if savings are found.
Now most companies are paying too much or being overbuilt. 30% of savings are not rare. The franchisee then shares in the savings with the company for usually about three years. And beyond that, the savings are retained by the company. So, if you save a company 10000 a month, you as a franchisee will keep 5000 USD in a month for three years, offering that service for free to the company. It’s a great way to get your foot in the door, prove the company capabilities, and then share those savings.
Now, referrals become a big part of the business once you are up and running, and people are working to report their friends about that service. Now, again, that drawback, if you are not a well-suited candidate, not self-motivated or not good at developing a business relationship, it’s a terrible business. You need to get out there and make things happen in your territory.