You may be at a crossroads in your life. It started with a recurring voice, a whisper that only you could hear, telling you to try something new. Over time, this whisper has grown and now it feels like a calling.
You are meant to do something else, something fun, something totally different than the work you have done up to this point.
There are so many options when thinking about choosing a different career path. Some people choose to go back to school and learn a new trade. Some people choose to start their own business. Others want to own their own business but don’t want to build it from scratch, making franchising an option.
A franchise is a business model that has been proven to work, based on a specific concept, procedures, and branded products. When you purchase a franchise, you are purchasing all these plus intellectual properties, rights to sell the products and services, and expertise from the founders that can help you succeed.
Franchise businesses come with some huge benefits. You don’t need to have prior experience in the industry to be successful. Choosing models that are popular allows you to skip a lot of the marketing expenses because there is already a fan base.
You are given support from the beginning, the risk of failure is much less, and there are franchise models available for every budget, from just a few thousand dollars to over a million dollars.
The biggest advantage is that you get to be your own boss.
If you are getting fired up at the thought of owning a franchise, let me offer some insight into franchises standing out from the rest of the crowd, and all under $50,000. I’ve done my research and have separated franchises by category and provide you with all the basics to help you decide if they are businesses you want to pursue.
Let’s get started with the pet industry because who doesn’t love pets?
Best Pet Franchise Opportunities Under $50K
Pet owners are spending billions of dollars annually to give their pets treats, meals, and sleeping experience. They buy spa and grooming services, chew toys and even pay for training, exercise and socialization for pets.
Below are examples of successful pet franchises that cost less than $50,000 initial investment.
Fetch! Pet Care
Puppies, cats and small pets are the focus for Fetch! Pet Care. From providing taxi services for pets to grooming, pet walking, boarding, and pet sitting.
Fetch! Pet Care was founded in 2002 and just two years later, they were franchising. Here are the basics:
What You Pay: $28K, with options for financing. Veterans get 50% discount
What You Get: Everything you need to get started
Purchasing co-ops, Newsletter, Online Support, Grand Opening, Proprietary Software, Intranet Platform, Marketing Support, Co-op Advertising, Ad Templates, Social media, SEO, Website development, Email marketing, Loyalty program/app, On-The-Job Training: 36.5 hours, Classroom Training: 56 hours, and Training manual & video.
Maximum Start Up Time: 14 weeks, sooner based on how quickly you move through application
Total Franchises: 100+
Pet Supplies Plus
Entrepreneur magazine has ranked Pet Supplies Plus as a top pet franchise for five years in a row. That may be because they serve all pets, from hedgehogs to birds to reptiles, rabbits, dogs and cats. They have been around for 30 years and have got the franchise model down to a science. Their franchisees are successful.
They provide you with a territory map on their site to help you choose areas set for growth. And if you still aren’t sure if this is a great fit for you, they offer an online quiz to find out.
What You Pay: $49,900 initial investment; 20% discount for veterans
What You Get: A lot of help from corporate on the front end and ongoing
[(IMAGE: psp help- franchise)]
Maximum Start-up Time: Varies, expect several months
Total Franchises: 400+
Best Food Franchises Under $50K
Food franchises are everywhere. Some are extremely expensive because they are extremely popular. But there are up and coming franchises that are making their owners huge profits. Two of the quickest growing, low-cost, and easy to operate franchises. They offer big returns. And best of all, they are two of the best franchises for giving back to the communities in which they operate.
Kona Ice is the bomb of the shaved ice industry.
In 2007 the first Kona Ice truck hit the streets in Kentucky. Since then it has grown to over 1,000 franchises in a variety of forms, from kiosks to food trucks. I’ve personally seen them at festivals and yes, I bought multiple shaved ice varieties. They were all worth it.
What You Pay: $20,000
What You Get: All expenses paid trip to Kona Kollege where you learn everything you need to know to be successful and make profits. You get corporate support forever. Online training platforms. Downloadable APPS. Marketing help and coaching.
Maximum Start-up Time: 2 months
Number Franchises: 1,100
Healthy You Vending
When you think of food franchises, you probably think food truck, food courts and restaurants. I want you to think a little outside the box for this one. Think, vending machines.
No, not the potato chips, candy bars and other really bad food choices. People don’t want this stuff anymore. They want healthier options and with Healthy You Vending, you can deliver.
Vending machines are lucrative businesses helping franchisees see big profits, for little work. They claim they are a franchise without the fees.
These machines are smart. They connect with smart phone technologies for payments like Google Wallet and Apple Pay, as well as credit and debit cards. They also allow you to monitor them remotely and send you notifications when products are low or there is an error with machine. That’s cool.
What You Pay: $30,000
What You Get: They offer free lifetime training and coaching to help you choose the right products, target the right locations for your machines, and an online support center.
Maximum Start-up Time: Varies, can be within a couple months
Number Franchises: 1700 +
Work from Home Franchises
I love this category. And I love that there are franchises you can buy for less than $50,000 that allow you to make money while sitting on your sofa.
The medical industry is growing every year, with more job opportunities than there are employees. One of the fastest growing areas is in medical billing, like ClaimTek Systems. It takes very little training to become a medical biller and you can choose to buy a franchise over working inside a medical facility.
Medical billing can bring in a lot of money working part-time, and significantly more if you choose to work full-time.
It puts you more in control of your career.
What You Pay: $21,995
What You Get: A lot of support, training, and assistance in every step.
Eazi-Apps Mobile Business
If you have ever dreamed of creating online apps and tools but you don’t have the IT background you think you need, you are going to love this piece of news: you can create apps with no experience using Eazi-Apps.
This is a mobile business that does not require coding skills. They have a business-in-a-box product. They offer e-learning, platform building, and walk you through building your first app.
Your app can offer your not one, not two, but three income streams. Yes, that’s three ways to make money.
Ready to apply? They have a seven-step process that are simple and allows you to speak with representatives from the company who can answer any questions you have.
What You Pay: $10,276
What You Get: Eazi-Apps trains you to become an App builder for mobile users. An easy side hustle where the more apps you build, the more money you make.
Maximum Start-up Time: Within a couple of months, you establish learning time
Number Franchises: 300+
More Franchise Categories
I want to leave you with more. More franchise categories. More franchises for sale under $50,000. More ways to make money. So, keep reading. I put together a chart with some creative finds.
|Franchise Category||Franchise Name||Franchise Cost|
Dream Vacations Travel Agency
$3 – $21K
Fun Fieldz- Mobile Sports Events
Amazing Athletes Ed. Program
Baby Boot Camp – Pre Natal and Post-Partum fitness
$6 – $13K
Hi_Five Sports for Youth
Jazzercise Group Fitness
The Party Supplies Store
Red Wing Shoes
|Cleaning and Maintenance||Mosquito Joe||$50K|
Club Z in Home Tutoring
Nutty Scientists Kids Program
Now the fun part, choosing a franchise. Seek the one that uses your talents, that you will find enjoyable, and that can give you the most for your money.
With thousands of options, the right franchise business is out there. Take your time, visit franchises in person when you can, do the research and most likely, the franchise will find you.