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Many Americans love the idea and fantasize about one day becoming their own boss. Too many of them are realizing that they don’t have enough money saved for retirement.
On that same token, they are scared of failing by starting their own business. Losing their savings and digging a deeper hole for themselves.
One way to avoid that is by buying a proven concept, rather than starting a business from scratch.
That means, buy a franchise.
The thing is, many of the well-known franchises today, come with a hefty price tag. But I will give you a few low-cost franchises that can help you achieve your goals of financial freedom.
Note: In order to get more details on these franchises, read this article on CNBC.
Since we are talking about low cost, we will begin with our highest “low cost” on this list and work our way down.
1. United Country Real Estate
With 443 franchises in the U.S., this franchise has a start-up cost of $15,000. Royalty fees range from $1,200 – $2,400 per month.
2. Rhea Lana’s
With only 89 franchises in the U.S., this franchise also has a start-up cost of $15,000. Royalty fees range from 1% – 3% of gross sales.
3. Image One
It has 103 franchises in the U.S and has a start-up cost of $15,000. Royalty fees are 10% of annual gross revenue.
4. Help-U-Sell Real Estate
It has 102 franchises in the U.S. and has a start-up cost of $15,000. Royalty fees are 6% of gross commissions.
5. Motto Mortgage
It has only 70 franchises in the U.S., with a start-up cost of $12,000. Royalty fees are $0 for the first 6 months, increasing to $4,500 per month after one year in business. With Real Estate heating up the way it is, the low amount of franchises and the low start-up cost makes sense for a great investment.
6. Cruise Planners
Has 2,569 franchises in the U.S., and a start-up cost of $10,995. Royalty fees range from 1% – 3% of gross commissionable fares. Competition is a bit steep here with over 2K franchises open.
7. TSS Photography
Has 176 franchises open in the U.S., and a start-up cost of $10,500. Royalty fees will depend on print production costs which varies by state.
8. Showhomes Home Staging
Only 55 franchises in the U.S., and a start-up cost of $10,000. Royalty fees are 10% of annual gross revenue. Again, Real Estate is hot lately and this investment has a lot of upsides. Not too many franchises to compete, low start-up cost and very generous royalty program.
9. Complete Weddings + Events
Has 192 franchises in the U.S., and a start-up cost of $10,000. Royalty fees are 8% of annual gross revenue.
10. Dream Vacations
It has over 1,200 franchises in the U.S. and the lowest start-up cost at $9,800. Royalty fees range from 1.5% – 3% of annual commissionable sales.
As you see, some of these franchises are well known with over 1K franchises up and running in the U.S. Others, are rather new which will give you an edge to really reach your financial freedom once people get to know you and trust you with minimal competition.
I prefer to receive my income from the (I) Investor quadrant but nothing wrong with being your own boss and be part of the (B) Business quadrant. Both quadrants come with great benefits from a tax perspective.
If you want to learn more about the Cash Flow Quadrants, tax benefits and much more, get your hands on this great book “Rich Dad Cashflow Quadrant” by Robert T. Kiyosaki.
For more on the (I) Investors quadrant, you can learn about:
Rich Dad Poor Dad: What the Rich teach their kids about money
Tax-Free Wealth: How to build massive wealth by permanently lowering your taxes
These books have empowered me with the knowledge to set myself and my family for success in the future. The small investment I paid for this type of knowledge, has paid dividends a lot sooner than I expect. The difference is knowledge by itself, is not power. Knowledge with action is power.
Set yourself for success!
To our wealth! Leave your comment below.
Remember, it’s all about the road to wealth. If you liked it, pay it forward. Don’t forget to share it on social media and help others become successful as well. There is plenty of room for all of us. In the end, your success will only depend on you and not what others do.
If you have any questions, you can reach me at firstname.lastname@example.org