I know it’s not quite time for another post but I am sending another guest post your way. While I don’t have any background in franchises and don’t work with clients who operate franchises, I know that some of you are interested in them, so I have a guest post from Aaron Hiddleston on the topic:
According to a report by International Franchise Association, franchise small businesses will continue to grow at a rate that exceeds the non-franchise business growth in 2016. This type of business shows great capability to provide new jobs (3.1 percent growth in jobs in 2016, to be precise), especially for families and first-time business owners, across all business sectors. Big franchises, such as McDonald’s, require liquid assets of at least $750,000 and thousands more for construction and equipment. Still, there are other franchises that are more affordable and offer the same small-business owner satisfaction. If you are searching for one of those, and think that you can manage in the pre-established system of a franchise, here are some great choices within every budget.
Commercial Cleaning Service
Business facilities are often in need of cleaning service, and they do not want to hire additional staff for that job. That’s why they make arrangements with professional cleaning companies. Since office cleaning can be sensitive due to the potential damage or loss caused by cleaning staff, managers tend to be very choosy when hiring cleaning staff. Owners of a trustworthy franchise, like Jan-Pro Franchising International a service that started in the distant 1991, will have no such problems. You can purchase this franchise along with the uniforms, equipment, starter supplies and training for $3,100.
Image credit: http://www.procarepropertyservices.us/yahoo_site_admin/assets/images/commercial-office-cleaning.4295353_std.jpg
Ladies’ Fitness
When it comes to starting a fitness business you should be aware that the female consumer is the driving force of today’s market. It’s no wonder then, that some of the most successful fitness franchises of all time are meant for women (Fit4Mom, EnVie Fitness, Get in Shape for Women…). There are a number of different cost-effective fitness franchises for ladies to purchase, and some of them can be done without a gym/exercise room. Baby Boot Camp, a stroller fitness program for new moms is definitely one of them. The total price (including one-time franchise fee) is between $4,800 and $10,200. Another interesting franchise is Jazzercise, a dance-infused aerobics which costs between $9,000 and $38,000.
Food Restaurant/Bar
This one will never get old – people have to eat, don’t they? Opening your own restaurant or bar can be quite a daunting task, especially when you consider what happens after the opening when you need to convince people to come and to visit regularly. A franchise will always have faster success in that. Food franchises are usually more expensive than the others, but you can find some like Chester’s Chicken for a price of under $25,000. Another growing segment of the restaurant business is juice. The consumers are more interested in healthy industry of smoothies and juices, so if you want to tap into this market, you can start with Juice It Up (initial investment between $10,000 and $25,000) or Jamba Juice with the same fees. If you want to start a restaurant franchise, you might want to consider experts to design commercial fittout that will be aesthetically pleasing and encourage productivity.
Image credit: http://www.what-franchise.com/images/uploads/article/Advice_on_running_a_successful_food_franchise.jpg
Senior Care
With the rapid aging of the baby boomer population around the world, there has been a growth in demand for quality elderly care services which resulted in large number of senior care franchises for sale. This is a job that can be done without any company’s facilities, so it is also tempting for people who want to start their business. Some of the most successful franchises in this area are Home Instead, Comfort Keepers, and Visiting Angels, and their fees go from $67,000 to $136,000. There are some more affordable options such as Hallmark Homecare which costs between $13,900 and $26,900.
Accounting and Taxes
No one likes to do their own taxes, and if you know your way around numbers, this might be just the right job for you. Accounting and tax operations are tasks that many of the companies are outsourcing, so if you are good at what you do, you can never run out of business. There’s a large number of accounting franchises and their prices will vary depending on the company itself, and the size of the office you choose, as well as the equipment and furniture. Liberty Tax Service will, for instance, require a total investment between $57,800 and $71,900, H&R Block from $31,505 to $148,700, while Tax Centers of America will cost franchisees between $20,300 and $63,550.
Image: https://pixabay.com/static/uploads/photo/2015/01/28/22/20/bookkeeping-615384_960_720.jpg
In the end, when choosing the franchise, you should count in various different factors, such as the kinds of work you enjoy, the hours you’re willing to work, and whether you prefer to remain behind the scenes or work directly with customers. Profitability is also an inevitable factor in this story. Some general rules are to stay clear of fields that are overcrowded to avoid too dense competition, to offer a relatively well-known brand name, and for the franchise to meet your demands regarding the requirements for investment and incomes.
Arron is architecture student and DIY enthusiast from Sydney. He enjoys browsing the web in search of fresh ideas about residential moving, storage, cleaning, clearance, waste removal, recycling, gardening, landscaping and home maintenance issues. Loves: all things spicy, barbecue, winter vacations. Doesn`t like: bad manners and narcissism.