Thinking about investing in a business, but think you can’t afford it? Take a closer look.
Franchises come in a variety of price ranges. At FranNet, we can help you find the right franchise, based on your goals, lifestyle and your financial capabilities.
Here are a few examples of franchises in various categories requiring low initial startup investments to get started:
Total Startup Investment of $50,000 to $75,000
- Tutoring
- Specialty Children’s Interest
- Internet Marketing/SEO
- Business to Business Coaching/Consulting
- Specialized Equipment Repair
- Virtual Assistant
- Mobile Drycleaners
- Janitorial
Total Startup Investment of $75,000 to $100,000
- Senior Care
- Supplemental Education
- Tax Preparation
- Business to Business Services
- Mobile Pet Grooming
- Home Improvement
- Financial Planning
- Business Computer Repair
Total Startup Investment of $100,000 to $120,000
- Staffing
- Home Decor
- Kids Sports Club
- Residential Cleaning
- Handyman Services
- Disaster Restoration
- Neighborhood Fitness Centers
Along with the initial costs to consider, investors also need to think about how to finance their investment. Franchises can be financed in a variety of ways. When you purchase a franchise, you may only need to come to the table with around 30 percent of the total investment. Franchises can be 70 to 80 percent financeable.
In addition, the IRS allows the use of retirement funds to invest in a business, with no taxes or penalties. Given the price range of available franchises, many can be purchased for less than the amount of money in a typical retirement account. This gives a potential business owner the flexibility to invest in a solid business, without using every penny in a retirement account.
