Franchises Under 10K: Why You Should Consider a Cleaning Franchise
It’s time for a career change and you’re considering the options, including owning your own business. Perhaps being your own boss intrigues and excites you, but the idea of starting a business without structure or support isn’t appealing. This is where considering affordable franchises may be a good fit.
There are many franchise opportunities available. Depending on how much you are able to invest, you may look at food franchises that are often upwards of a million dollars, or you might be more suited to affordable franchises under $10K.
Lower cost franchises don’t have to mean giving up good support and structure; in fact those elements should be high on your list of priorities when narrowing down your selection. Just because you’re going into business for yourself, doesn’t mean you should be doing it by yourself. Ask the franchisor how many years they’ve been operating, how much experience their support staff have in that particular industry, and ask to speak to some current franchisees.
Find an Affordable Franchise Opportunity
Franchises under $10k are appealing to many people that want an affordable franchise opportunity; if you’re unsure about which industry appeals to you, take your time researching the possibilities to determine what is of interest, what would work best in your market, and what suits your lifestyle. Become familiar with the standard franchise documents applicable to all affordable franchises, such as the Franchise Disclosure Document (FDD) and the agreements.
A cleaning business is a good example of an affordable franchise, often with low cost of entry and ongoing operating expenses. Compare cleaning franchises to determine which provides the most flexibility; some may require renting office space, a fleet of cars, uniformed team members, specific cleaning equipment/supplies.
Remember to check that the franchisor has a solid history and can provide you with experienced operations and marketing support throughout the life of your business. Find out if you will receive pre-opening as well as on-site training. Does the franchisor have a team of experienced marketing professionals to help with online and offline campaigns, ad hoc requests for artwork, scripts for radio etc?
If you are a veteran, you may be entitled to a veteran’s discount – be sure to ask about it! Some franchisors may offer financing for qualified candidates.
Another important consideration of all affordable franchises is the location and territory. Can you successfully open a franchise where you currently live? Is there a market for the type of franchise you want to own? Franchisors should provide you with suggested areas based on demographic software purchased; however, your own local knowledge should be taken into account as well. What size territory is being offered – is there the option to develop outside of the initial area once you’ve outgrown it? Ask to see maps and offer your feedback on proposed areas before you finalize any agreements. As a reminder, franchises under $10K should still provide you with the same high standards as more expensive opportunities.