When you start a business, the costs of getting started can be overwhelming. In fact, if you’re looking for a franchise opportunity, you are likely to be worried about how much it will cost you to get started. That’s why we’ve compiled this list of best franchises under $50k.
We know there are many factors to think about when looking for the right franchise opportunity. Besides money, you need to consider the following factors too:-
- Location of the franchiser, in case you need to visit them often
- What kind of support do they offer?
- Are they okay accepting franchisees who have no prior experience?
- Do they offer training? If yes, then do you need to visit them, or do they send in their executives to train your staff?
- How long have they been offering franchising opportunities and whether other franchisees are happy working with them?
Apart from these, you need to take into account many other potential costs associated with starting a franchise business. This is why we’ve put together this comprehensive list of affordable franchises that are highly trusted and recommended by other franchisee companies.
Brightway Insurance – One of The Best Franchises Under $50k In the Insurance Segment
Brightway Insurance is a great franchise opportunity to consider if you have a certain knowledge of insurance and investment products. The Brightway Group is an insurance company that provides auto, home, life, health, and business insurance. With over 4 million customers across the U.S., they are one of the top 20 largest independent agencies in America.
This insurance company offers a range of insurance products, e.g., personal auto policies (including liability), homeowners’ policies, and renters’ coverage. They also offer commercial auto coverage on fleets of up to 20 cars with no mileage restrictions. Further, they provide business owners insurance along with group benefits such as health care plans and disability income protection plans through their sister company Advantage HealthCare Solutions.
The company was founded in 1993 by David Willis after he noticed many small businesses couldn’t afford coverage for vehicles or other assets. Hence, he decided to start an agency where he could provide them with such services at affordable prices. This idea leads to the formation of “The Brightway Group.”
The insurance provider offers franchises for $5,000 in fees upfront. However, the minimum total investment is around $50,000. With such low startup costs and monthly expenses, you can easily get your business up and running without breaking the bank. It’s also worth noting that this is not an exclusive contract. Hence, as an insurance advisor, you can sell products of other insurance companies too. This way you can find it easier to get more clients and provide them with more options!
Brightway Insurance franchise reviews are overwhelmingly positive. Many franchisees praise the company’s great customer service and support. The insurance provider also has a very high satisfaction rate when it comes to settling claims.
Pillar to Post Home Inspectors – An Affordable Franchise Opportunity in the Home Inspection Space
If you are interested in home inspection franchises then Pillar to Post Home Inspectors is one of the most popular options to consider without hesitation. With over 200 locations in the US and Canada, this business offers strong brand recognition and a proven track record for success.
Pillar to Post Home Inspectors startup cost is quite low. This means you won’t have to take out a second mortgage on your home just to get started! And with fees starting at just $21,900, this franchise offers an affordable way for real estate agents or consultants to make money without actually being at construction sites. The total investment can be a minimum of $36,000. However, this amount may vary depending on your location, equipment you may need to purchase, and several other factors.
Once your franchise is up and running, you have to pay a monthly royalty fee of 7% against your gross revenue. Also, a 4% fee is added to cover the brand advertising costs. These are recurring fees that you’ll have to pay to maintain a lifelong relationship with the company.
We interviewed a few Pillar to Post Home Inspectors franchise owners and here’s what they had to say about their experience. “The reason I chose Pillar was because of the training and support.” -David M. from Frisco TX
“There is no limit on how much money you can make. And the cost of the franchise is a very affordable investment.” -Louis B. from Houston TX
Express Employment Professionals – One of the Best Franchises Under $50k For Sales & HR Professionals
Express Employment Professionals is a staffing agency that specializes in temporary and permanent staffing solutions. Offering franchising opportunities since 1985, it has over 4,000 branches in the US and over 1000 branches across Canada.
The initial franchise fee for Express Employment Professionals is $40,000. However, the overall investment to start an Express Employment Professionals franchise is $140,000 – $400,000 which includes expenses like lease and deposits, leasehold improvement, training, office supplies, computer system installation, office furniture, and professional service fees. Also, they ask you to maintain an additional fund which is a minimum of $60k.
The franchise reviews for Express Employment Professionals are positive and encouraging. The franchise owners have mentioned that the staff of Express Employment Professionals is always helpful and they provide dedicated support to their franchisees.
Cruise Planners – One of The Best Franchises Under $50k to Join Without Any Investment
As an American Express Travel Representative, you can sell travel products and services to consumers, who may or may not be members of American Express. You’ll earn commissions on each sale that range from 10% to 25%.
If you are looking for one of the best low-cost franchises in 2022, then Cruise Planners might be a perfect choice! The risk is low since you’re only responsible for bringing in clients and helping them plan their trips.
There are also low overhead costs involved. You don’t need a physical location (unless you want one). Also, you don’t need to hire employees besides yourself, at the initial stage. In fact, you can work from home and decide your own work hours. At the same time, Cruise Planners expects you to be accessible to clients at all times. So, you need to keep this in mind before considering this franchise business.
It has got high-profit margins. This means more money left over after expenses have been paid. Plus there’s a high return on investment because of the large sales volume generated by owning multiple businesses like this one. This means that even if sales are slow one month, they could be very good the next. So, you never know what might happen. But it’s always safe knowing that whatever happens, this franchise business will bring in some cash flow to help pay your monthly bills!
Jazzercise, Inc. – One of The Low-Cost Franchises With a High Market Reputation!
Jazzercise, Inc. is a fitness franchise that has been around since 1980. The company is based in California and offers dance-based fitness classes taught by instructors trained to teach the Jazzercise program.
The franchise business model allows you to be your own boss. But it also comes with some costs and responsibilities. If you’re interested in owning your own business, but don’t want to invest millions of dollars to start from scratch, this might be the right fit for you!
The initial franchise fee for Jazzercise, Inc. is $1,250, to be paid one time. The total initial investment comes to a minimum of $2415. However, there are a few annual fees involved like
An annual associate fee of $120
General liability insurance fees of $185-$275
Music download charge of up to $200 if you are a US-based franchise. For international downloads, this cost is estimated to be around $250.
Further note that the Jazzercise franchise fees vary for associate instructors and owner instructors.
PuroClean – Great Franchise Business For Restoration Experts
PuroClean is a franchise under the PuroClean family of companies. They specialize in water damage restoration, mold remediation, fire and smoke damage restoration, and biohazard removal. The company was founded in 1997 and has since expanded to over 150 franchises across North America.
While PuroClean Franchise Fee is $55,000, there are a few other costs involved like equipment, vehicle, and working capital. So, the total initial investment may rise up to a minimum of $175,000 to $200,000.
If you have previous experience in the restoration industry or have good knowledge of sectors like home construction, remodeling, inspection, property management, insurance, and the like, then Puroclean can be your top choice.
You can consider this franchise business if you are already a franchise owner aiming to diversify your portfolio. The PuroClean franchise opportunity is a great fit for anyone looking to start their own business and make an impact in their community. Explore the site today to learn more about how you can become part of their huge network!
Freedom Lawns Usa – A High-Demand Franchise Sector For Anyone Who Plans to Start Own Business
Freedom Lawns USA is a lawn care company that offers organic-based lawn care services to both residential and commercial clients. Founded in 1999, it has more than 30 years of experience in the industry. The company now knows how to offer different lawn care experiences, and combine them into a simple yet profitable system.
Why consider the Freedom Lawns USA franchise? Because this is an industry that is recession-proof. You can start the business right from home and decide your own work hours. The company offers all sorts of marketing support as you focus on growing your business. Freedom Lawns USA franchise owners are trained to provide a unique approach to lawn care services for both residential and commercial clients. So, yes, it can be said that Freedom Lawns USA is one of the best franchises to join, even if you don’t have any previous experience in running a franchise unit.
Their franchises are offered at $20,000 but you need an initial investment of around $75,000 before you can open your business! Freedom Lawns takes 6% royalty fees from their franchises and also deducts some amount from every transaction made by the franchisees (which varies depending on your location).
Comet Cleaners – One of the Best Franchises Under $50k With Scope to Grow Quickly
Comet Cleaners is the largest family-owned dry cleaning chain in North America. The franchise was founded in 1960 by John and Bea Scharf, who were determined to create a dry cleaner that could change how people cleaned their clothes. Since then, Comet has grown into a company with 160+ stores across the United States and Canada. Their dry cleaning category is growing fast. So, this is one of the best franchises under $50k you can invest in if you want to get into franchising.
Comet offers flexible hours for your business as well as comprehensive training and support once you’re up and running. They also have an online ordering system for customers who don’t live near any of their franchises. This allows them to still access your services even if they aren’t close enough for delivery! And yes, you don’t need to maintain any inventory too.
One of the main reasons why Comet Cleaners is so appealing as a franchise is because it only costs $30,000 for a single store and $15,000 for a pickup store. The ongoing royalty fee every month is 5%, which isn’t too bad when compared to other franchises. If you’re looking for a low-cost franchise that has been in business for 60 years and thrives across many states, then this might be an option worth considering.
Great Clips, Inc. – One of The Top Franchises Under $50k with High Income Potential
Looking for a hair salon franchise that offers its owners the opportunity to work for themselves? Think of Great Clips. It has over 4,000 salons in the US and Canada, with locations as far west as California and as far east as Maine. In fact, they have been ranked as “the World’s Largest Salon Brand” by Entrepreneur, in its previous year’s list of top Franchise 500 companies. Great Clips prides itself on its no-appointment policy, which allows customers to walk in and get their hair cut whenever they have time.
If you are looking for the best franchises under $50k, then consider Great Clips because of its market reputation and accolades received to date. The franchise fee for a Great Clips franchise is $25,000. However, the initial investment for a Great Clips franchise ranges from $178,000 to $379,000. This cost includes leasehold improvements, site fees, inventory, advertising costs, insurance, training, travel, emergency funds for the next 12 months, and other related expenses. The ongoing royalty fee is six percent of total sales.
CLUB Z! – One of The Cheapest Franchise To Own As An Education Professional
A known name in the In-Home Tutoring segment, Club Z! is one of the best franchises under $50k. This tutoring and test prep company, offering franchising since 1998 operates in the United States and Canada. It already has a vast network of franchise units who has good things to say about Club Z! support and services.
As a Club Z! franchisee, you can offer one-on-one in-home tutoring services and help students with ACT and SAT exam preparations. If you are a foreign language expert or have proficiency in computers and music or any other academic subject, then you can make good money as a Club Z! franchise owner.
To become a Club Z! franchise owner, you need to invest a minimum of $33,000 which may rise to $52,000, depending on certain factors. However, the net worth and cash requirements are $100,000 and $40,000 respectively. Their royalty fee is a nominal 2%. And yes, you can run this franchise unit with 1 employee only which can be You, the franchise owner, or anyone you decide to hire. So, if you are looking for high-profit franchise businesses under $50k, then consider Club Z! home tutoring franchise.
I have tried to cover the best franchises under $50k that offer great support and other facilities to new franchisees. And, in case, you are interested in food franchises under $50k, then check the list here.
Starting a franchise business apparently sounds easy since the parent company offers lots of support with the initial setup. And yet, you are always advised to do your own research before considering a specific company. It is very important to develop an entrepreneurial mindset before starting a business venture.
Also, note that the above franchise fees and other information are collected from respective websites on the date of publication. However, if you decide to join any of these franchises then please visit the website to verify and clarify necessary information before committing anything.
Sweta is a veteran content creator, passionate traveler, movie enthusiast, music lover (reasonably good singer!), an informed reader …. and a coffee connoisseur! She has over 10 years experience in developing content for small businesses, internet marketing firms, website development companies and internet entrepreneurs. The experience has helped her develop in-depth knowledge about small business online which she now shares on the OnlismallbiZ platform. In her own words, “I am a dreamer and a doer!”