5 Franchise Opportunities with Low Costs and High Returns
Category: Franchise News
Franchising is booming. According to the International Franchise Association, more than 26,000 franchised locations were added in 2021 and franchise employment grew to nearly 8.3 million workers.
Entrepreneur predicted that 2021 would be the best year of franchise growth in at least a decade and that the franchise industry will lead economic recovery after the COVID-19 pandemic.
Looking to join the wave and be your own boss? These 5 fast-growing segments provide the perfect low-cost opportunity.
Top 5 Low-Cost Franchise Opportunities [2022]
- Residential Cleaning
Cleaning, sanitation, and disinfection services have been in high demand since the COVID-19 pandemic had us all reaching for the hand sanitizer and hoarding Clorox wipes. Once considered a luxury, cleaning services are viewed by a growing number of Americans as a way to keep the coronavirus at bay.
Residential cleaning services like The Cleaning Authority, Molly Maid, and You’ve Got Maids give franchise owners a steady stream of recurring revenue through a reliable customer base and a predictable cash flow.
- In-Home Senior Care
Baby Boomers have been redefining the status quo their whole lives. As they enter the ranks of senior citizens, that hasn’t changed.
With 10,000 Boomers turning 65 every day, the demand for in-home care is soaring. It’s an attractive industry for people who want to run a successful business and give back to their community. Franchising is the perfect way to start an in-home senior care business; the established structure helps novices to the industry navigate the complex legal and operational requirements.
Franchises such as Right at Home, Always Best Care, and Homewatch CareGivers offer a range of services, from actual medical care to helping with errands and light housework.
- Property Management
If you’re looking for a franchise opportunity with predictable revenue, property management is a great option. Property management generates recurring revenue year after year. The national housing shortage has led to a hot rental market. Landlords need property managers to oversee their properties as more Americans choose renting over buying.
Property management franchises include Real Property Management, Keyrenter, and Property Management Inc.
- Home Improvement
Most homeowners have a list of improvements they plan to make “someday.” As millions of Americans trade in offices to work from home, “someday” has become “now.” After all, that outdated paint color in the master bedroom becomes a lot more annoying when you’re home looking at it all day.
The home improvement and repair industry climbed an estimated 3% in 2020 to $419 billion. As work from home becomes increasingly normal, that trend shows no sign of slowing. Home improvement franchises cover such industries as painting, flooring, insulation, crawlspace sealing, and kitchen and bathroom remodeling.
From Budget Blinds to Closets by Design, if you’re interested in home makeovers, there’s a franchise for you.
- Business Services
Business services like ProShred, P3 Cost Analysts, and Focal Point Business Coaching are businesses that serve other businesses. These franchises offer services such as bookkeeping, staffing, and cost analysis to help companies optimize their operations. Other services include document shredding, management training, and digital transformation.
There has never been a better time to become your own boss through franchising. Take our personality quiz to see which franchise sector would be a great fit for you.
