Starting your own business can be a daunting task.
Owning your own business is a great way to be in control of your career and your future. But with so many franchise opportunities out there, it can be tough to know where to start.
You have to come up with an idea, invest money, and then hope that it succeeds.
However, there are many different types of businesses you can start, and one of the cheapest is a franchise.
Franchises have low startup costs, a proven track record of success and are fairly easy to start.
However, you need to be ready to invest some money in order to get started.
What is a franchise?
A franchise is a type of business that is based on an existing business model. The franchisor licenses their business model and brand to the franchisee, who then pays a fee to the franchisor.
The benefits of starting a franchise include low startup costs, access to an established brand and a proven business model.
However, there are some disadvantages to franchises as well. These include high initial investment costs, ongoing royalties, and limited control over your business.
How to evaluate a franchise opportunity
When you are looking at different franchise opportunities, there are a few things you should keep in mind.
First, look at the initial investment cost. This includes the Franchise Fee, which is the upfront cost to buy into the franchise, as well as other costs such as equipment, inventory, and build-out costs.
You should also consider the ongoing royalties and marketing fees that you will be required to pay to the franchisor. These fees can range from a few hundred dollars to several thousand dollars per month, so it is important to factor them into your decision.
Finally, you need to evaluate how much control you will have over your business. With a franchise, you will be required to follow the franchisor’s business model and brand guidelines.
This can limit your ability to be creative and innovate in your business.
Pros of opening a franchise
- Low startup costs: Franchises have low startup costs when compared to other businesses. This is because you are using an existing business model and brand.
- Proven track record of success: Franchises have a proven track record of success. This means that you are more likely to succeed if you open a franchise than if you start your own business from scratch.
- Easy to start: Franchises are easy to start because you are not starting from scratch. You have access to an established brand and business model.
Cons of opening a franchise
- High initial investment costs: The initial investment cost for a franchise can be high. This is because you are paying for the rights to use an existing brand and business model.
- Ongoing royalties: Franchises require you to pay ongoing royalties to the franchisor. This is a percentage of your sales that goes to the franchisor.
- Limited control over your business: When you open a franchise, you have limited control over your business. This is because you are following the franchisor’s guidelines.
Now that we’ve gone over the pros and cons of opening a franchise, let’s take a look at the top 10 cheapest franchises to start in 2022
Top 10 cheapest franchise to start in 2022
After extensive research, here is our list for the top 10 cheapest franchisees to start in 2022.
1. Dream Vacations
Initial Investment Cost: $3,495
Ongoing Royalties: 8%
Dream Vacation is one of the cheapest franchises to start and is an affordable option for entrepreneurs who are looking for a top franchise to buy. The company provides a complete turnkey solution, which includes everything from a customized website and marketing materials to reservation software and training.
And because Dream Vacation is a home-based business, it has low overhead costs. For these reasons, Dream Vacation is an excellent franchise opportunity for those looking for a way to get into the travel industry without breaking the bank. So if you’re looking for an affordable franchise that offers a complete package, Dream Vacation is a very good choice with an initial investment of under 5k, which in this day and age is a very cheap franchise to start.
2. Cruise Planners
Initial Investment Cost: $10,995
Ongoing Royalties: $499/month
Cruise Planners is another great option for entrepreneurs who are looking for a cheap franchise to start. The company is a full-service travel agency that specializes in cruises. And like Dream Vacations, Cruise Planners provides a complete turnkey solution that includes everything you need to get started, such as a customized website and marketing materials.
What’s more, Cruise Planners offers extensive training and support to help you succeed. For these reasons, Cruise Planners is an excellent choice for those looking for an affordable way to get into the travel industry. So if you’re looking for a low-cost franchise that offers a complete package, Cruise Planners is the perfect option for you.
3. Express Employment Professionals
Initial Investment Cost: $25,000
Ongoing Royalties: None
Express Employment Professionals is a great franchise opportunity for entrepreneurs who are looking for a cheap way to get into the staffing industry. The company provides temporary and full-time placement services for businesses in a variety of industries.
And because Express Employment Professionals is a home-based business, it has low overhead costs. For these reasons, Express Employment Professionals is an excellent franchise opportunity for those looking for a way to get into the staffing industry without breaking the bank. So if you’re looking for an affordable franchise that offers a complete package, Express Employment Professionals is the perfect option for you.
4. Jani-King
Initial Investment Cost: $1,500
Ongoing Royalties: 5%
Jani-King is a great franchise opportunity for entrepreneurs who are looking for a cheap way to get into the cleaning industry, which is of recent events become a booming industry. The company provides commercial cleaning services to businesses in a variety of industries.
Jani-King is also a home-based business meaning it has low overhead costs. Jani-King is an excellent franchise opportunity for those looking for a way to get into the cleaning industry without breaking the bank.
4. Motto Mortgage
Initial Investment Cost: $20,000
Ongoing Royalties: $599/month
Motto Mortgage is one of the cheapest franchises to start up, with an initial investment of $20,000. The company provides a turn-key operation for those who want to get into the mortgage business, with franchisees opening up shop in their local area. In addition, Motto Mortgage provides affordable financing for franchisees looking to purchase a top franchise.
The company has been ranked as one of the top five cheapest franchises to start up by Entrepreneur magazine. As a result, Motto Mortgage is a great option for those looking for an affordable franchise opportunity.
5. Dunkin’ Donuts
Initial Investment Cost: $119,000
Ongoing Royalties: 6%
Dunkin’ Donuts is one of the most affordable franchises to start, with an initial investment of only $119,000. The company is a leading provider of donuts, coffee, and other baked goods. And because Dunkin’ Donuts has a proven track record of success with nearly international recognition, it’s a great franchise opportunity for those looking to get into the food industry.
According to Forbes, Dunkin’ Donuts is one of the cheapest franchises to start. Franchises can be expensive, but Dunkin’ Donuts has a relatively low initial investment compared to other franchises in the same industry. Additionally, the franchise is affordable to operate, with a relatively low franchise fee and royalties. For these reasons, Dunkin’ Donuts is a good option for those looking for an affordable franchise opportunity under a recognized brand in the food industry.
Dunkin’ Donuts ranks high in several key areas, including overall satisfaction, marketing support, and training and support. These factors are important considerations for potential franchisees.
6. Image One
Initial Investment Cost: $2,500
Ongoing Royalties: 5%
Image One is a great franchise opportunity for anyone looking for an affordable franchising option. It is one of the cheapest franchises to start, and has a proven track record of success. Additionally, Image One is a top franchise to buy, and is ranked as one of the best in the cleaning industry.
Image One has a low initial investment of $2,500, making it a great option for those looking to get into the franchise business. Additionally, the company has a low franchise fee and royalty structure, making it affordable to operate.
7. Mosquito Squad
Initial Investment Cost: $30,000
Ongoing Royalties: $79/month
If you’re looking for an affordable franchise that offers a low barrier to entry, Mosquito Squad may be the perfect fit.
As one of the cheapest franchises to start, Mosquito Squad is a top franchise to buy for those on a budget. With an initial investment of less than $50,000, you can be up and running in no time.
And with a proven business model and strong support from the franchisor, you’ll have everything you need to succeed. So if you’re looking for an affordable franchise opportunity, Mosquito Squad is a great option to consider.
8. FedEx Office
Initial Investment Cost: $30,000
Ongoing Royalties: 6%
When considering a franchise opportunity, it’s important to choose a brand that is affordable and has a proven track record of success. FedEx Office is one of the cheapest franchises to start, and it has consistently been ranked as a top franchise to buy. In addition, FedEx Office offers a wide range of services that appeal to both businesses and individuals.
From print and copy services to shipping and packaging, FedEx Office has something to offer everyone. As a result, it’s no surprise that FedEx Office is one of the most popular franchise opportunities around.
If you’re looking for an affordable franchise opportunity with plenty of growth potential, FedEx Office is definitely worth considering.
9. Showhomes Home Staging
Initial Investment Cost: $45,000
Ongoing Royalties: 7%
Showhomes Home Staging is a great franchise opportunity for anyone interested in the home staging industry. It is one of the cheapest franchises to start, and has a proven track record of success. Additionally, Showhomes Home Staging is a top franchise to buy, and is ranked as one of the best in the industry.
Showhomes Home Staging is a good cheap franchise opportunity. It is one of the cheapest franchises to start and is an affordable franchise. The company has been in business for over 20 years and has a proven track record. Showhomes Home Staging is a top franchise to buy. It is a great way to become an entrepreneur and make money.
The company provides training and support. It is a turnkey business that requires no inventory. Showhomes Home Staging is a great opportunity for those who want to own their own business and be their own boss. It is a low cost franchise with a high potential for profitability.
10. Coffee News
Initial Investment Cost: $9,995
Ongoing Royalties: 8%
When people are looking for the cheapest franchises to start, they often overlook Coffee News. This is a mistake, because Coffee News is one of the most affordable franchises available. For less than $10,000, you can get started with this proven business model. In addition, Coffee News has been ranked as one of the top franchises to buy by Entrepreneur magazine. So if you’re looking for a low-cost franchise opportunity that has a track record of success, Coffee News is definitely worth considering.
Coffee News has a proven business model that has been successful for over 25 years. Coffee News is definitely an excellent franchise opportunity for anyone looking for a low-cost investment with high potential returns.
FAQ
What is a franchise?
A franchise is a business model that involves the licensing of one company’s (the franchisor) trademark, trade name, and/or business system to another (the franchisee).
How much does it cost to start a franchise?
The cost of starting a franchise varies depending on the specific franchise. However, most franchises require an initial investment of $10,000-$50,000.
What are some of the benefits of owning a franchise?
There are many benefits to owning a franchise, including:
- Low startup costs
- Proven business model
- Strong support from franchisor
- Access to exclusive territories
What are some of the risks of owning a franchise?
There are some risks associated with owning a franchise, including:
- Limited control over business operations
- Dependence on franchisor for continued success
- Restrictions on how you can run your business
- Royalty payments
Is there financing available for franchises?
Yes, there is financing available for franchises. However, the availability and terms of financing will vary depending on the specific franchise.
How do I choose the right franchise for me?
The best way to choose the right franchise for you is to carefully research all of the available options. Once you’ve narrowed down your choices, it’s important to visit each franchise’s business location and speak with franchisees to get their insights.
How can I find out more about franchising?
The best way to learn more about franchising is to attend a franchise expo or convention. These events provide an excellent opportunity to meet with franchisors and learn about different franchise opportunities.
The bottom line
Owning your own franchise can be a great way to start your own business. Franchises are easy to start, have low startup costs, and a proven track record of success. However, you need to be ready to invest some money in order to get started.
In this article, we’ve highlighted 10 of the cheapest franchises to start in 2022.
If you’re looking for an affordable franchise opportunity with high potential returns, these names are definitely worth considering.
All of these franchises offer training and support so you can hit the ground running.
Nexym's editorial team handpicks all of the products and services it recommends, regardless of external influences. Affiliate links appear in some of our stories. We may receive an affiliate commission if you purchase something through one of these links, which helps us stay independent and support our great team.
