“Entrepreneurship through franchising offers many advantages including speed to market and ongoing support,” says Eric Stites, CEO of Franchise Business Review.
Portsmouth, NH (PRWEB) July 07, 2015
Franchising is a viable way for people with as little as $13,000 to invest to earn over $100,000 annually according to Franchise Business Review’s recently released Top Low-Cost Franchises report. To compile the report, Franchise Business Review, a national franchise research firm, asked 9,200 franchisees from 132 different brands to answer 33 benchmark questions ranking their franchise in eight core areas ranging from financial opportunity and leadership, to operations and product development.
Only 80 franchises with a minimum startup investment of under $100,000 had high enough franchisee satisfaction levels to make Franchise Business Review’s Top Low-Cost Franchises report. Six of them generate an average annual pre-tax income of $116,525 according to franchisees who have owned them for at least two years. They are Sandler Training, Critter Control, Visiting Angels, Right at Home, Murphy Business & Financial, and MaidPro. Their minimum startup investment ranges from $12,250 to $76,700.
The report also highlights the most profitable franchise sectors overall. Business Services (Median Income: $87,500), Senior Services (Median Income: $75,000), and Advertising/Sales (Median Income: $62,500) were among the top three industries. The median investment for franchises within these sectors is just $67,130 – which is well below the typical financial requirements of many franchise brands. If this seems too steep for you, six of the brands have a minimum startup investment of under $5,000 while fourteen others have a minimum startup investment of between $10,000 and $25,000.
“Entrepreneurship through franchising offers many advantages including speed to market and ongoing support,” says Eric Stites, CEO of Franchise Business Review. “Because franchisees are investing in a proven system of operation, with solid training in how to use it, their businesses are often up and running quickly. They also receive regular support from the corporate office and fellow franchisees, which enables them to immediately address challenges and be exposed to many business best practices.”
FRANdata reports that there are 668 franchises with investment requirements of $100,000 or less in 29 sectors to choose from. The challenge is selecting the one that is the best fit for you. Factors to consider include your personal interest in a concept, startup costs, market demand for the product or service, franchise fees, potential revenue, contract provisions and franchisee satisfaction. A complete list of considerations to make prior to investing in a franchise is featured in Franchise Business Review’s Top Low-Cost Franchises report. The report is available for free at http://www.FranchiseBusinessReview.com.
About Franchise Business Review:
Franchise Business Review is a national franchise market research firm that performs independent surveys of franchisee satisfaction and franchise buyer experiences. The firm’s services include commissioned franchise research projects, as well as industry-wide studies of franchisee satisfaction. Franchise Business Review is headquartered in Portsmouth, NH, and can be reached at (603) 433-2270. Visit http://www.FranchiseBusinessReview.com for more information.