5 Franchises You Can Own For Under $100,000
CREDIT: Franchise Image via Shutterstock
The fiscal cliff may have been averted, but that doesn’t mean the economy is any more inviting to aspiring business owners. For that reason, franchising remains an attractive option for those looking to start a business in 2013. The five following companies provide attractive franchising options to entrepreneurs with an even more attractive price.
Total investment costs: $99,100
The cost is just one of the factors that makes national franchise ProTect Painters an attractive option to aspiring business owners.
"ProTect Painters franchise owners manage subcontracted painting crews who professionally handle the jobs," said Anne Nemer, vice president of marketing and development at ProTect Painters. "That gives the owners the freedom to concentrate on building the business, the financial rewards to secure a family’s future, and the flexibility to enjoy a work-life balance."
Franchisees can credit the franchise model of ProTect Painters with allowing them to enjoy that balance outside of work.
"You’re not joining a franchise to reinvent the wheel," Nemer said. "Get behind it. And, finally, in any business success is a result of effort. Work hard, treat your team fairly and excel at serving your customers. And, however you measure success, you’ll get there. When you commit to the business, dedicate yourself to follow the system — the how-to manual. Smart, experienced professional people took great care to develop and hone the system."
Total investment costs: At least $43,650, depending on size of store
The fact popular fashion is always changing may be a challenge to other clothing retailers, but it presents an opportunity to national franchise Mainstream Boutique, says co-founder Marie DeNicola.
"The buying trend has been shifting and continues to shift away from large retailers in malls," DeNicola said. "Women want customer service, convenience, affordability and something unique and that is what we provide."
In addition to that service, the franchise also provides franchisees with a successful business model.
"The learning curve to be successful in women's retail is steep, which is why most boutiques don't make it past a year," DeNicola said. "We know the recipe for success and are awarding this business model to women across the country. The support and commitment from a dedicated corporate team gives our franchisees the tools to be successful, and our franchisees are experiencing more and more success each year."
Total investment costs: $75,000
Painting with a Twist is aiming to become a leading entertainment franchise. With its unique concept and successful business model, the company is well on its way there.
"Painting with a Twist is a place where people come together to experience a 'getaway' that includes instructional art with friends, wine and a lively instructor," said Cathy Deano, co-founder of Painting with a Twist. "It is a fun franchise to own, and giving back to the community is built into the business model."
The business model, however, is just one of the factors behind the success of Painting with a Twist. Deano says aspiring franchise owners must also do their research to be successful.
"Vet your franchise choice," Deano said. "Do your research on the owners. This is a marriage, and in order to be successful and happy, you need to be on the same page. Listen to your franchisor; you paid good money for their knowledge. A good franchisor will listen to your ideas, but will know best if they can be implemented into the system."
Total investment costs: At least $70,000, depending on type of store
Renée Israel, co-founder of Doc Popcorn, which has more than 80 franchises across the country, is hoping that 2013 is the year when her franchise pops.
"Doc Popcorn empowers our franchise owners to produce fresh-popped popcorn in a variety of all-natural flavors, simply and affordably, and have fun while doing it," Israel said. "Together, we are revolutionizing how people snack in high-traffic venues by offering a better-for-you snack option. As a result, we have become the largest retailer of popcorn in the world."
The key to that success, according to Israel, is the flexibility of Doc Popcorn's business model.
"Doc Popcorn's model appeals to those who answer these questions and determine they want a low-investment, simple, fun business that can eventually be run by someone else," Israel said. "In these uncertain economic times, the best investment you can make to build equity for yourself and your family is in yourself. Owning a business is a great way to do this, and franchising is a great way to start a business with a proven concept, support systems and economies of scale in place."
Total investment costs: Between $74,260 - $99,375
Since opening in 2001, disaster recovery company PuroClean has grown to 300 franchises and more $110 million in systemwide sales.
"PuroClean franchise owners make a difference and touch the lives of homeowners and business owners during stressful property emergencies," said Lauren Reid, CEO of PuroClean. "PuroClean continues to attract entrepreneurial-minded individuals looking for a personally and financially rewarding high-level business opportunity in the recession-proof insurance property claims industry."
Even in a field described as recession-proof, aspiring business owners would be well served by examining any franchises they hope to get involved with.
"Instead of thinking about what kind of business you want to operate, say a restaurant or home service business, first decide what type of investment and time commitment you are willing and able to make," Reid said. "Then you can narrow down which type of business would suit your personal and professional goals and aspirations."