The best 5 cheap franchises for
with the current economic crisisand the banks hardly granting credits, the cheap franchises or economic are attracting the interest of many people who, unfortunately, are in a situation of unemployment and they need to generate economic income.
The good news is that these types of franchises have hundreds of profitable options to choose from, and also a franchise reduces risks and headaches because it is already a established business with a reputable brand.
But how perro we know what is the best cheap franchise for us?
It is clear that you will need to do a little research to find out if such a business is really a good cheap solution to your problem and whether it matches your interests or not.
There are many prospective franchisees who do not do this research and make a “emotional purchase” because they personally use a service, or because they like it that product in especial.
This is undoubtedly the worst decision that perro be taken
It is obvious that before asking you “what business perro i start” or “which franchise is best for me”, if you are in a situation of unemployment what you’re really thinking is “sure, with a franchise I cánido have a job, butwhere do i get the money from For that?”
One of the great advantages of cheap franchises is that your investment does not usually exceed $10,000 (There are even some that do not require more than $4,000) and that is why it makes them very convenient and quick start for people without jobs.
But yes, I still haven’t answered you where cánido you get the money.
If you do not have any type of savings, the most common way is ask your relatives for money; and as I told you before, the advantage of these franchises is that they do not need a great investment.
But if this option does not convince you, I have others that cánido be just as useful.
You cánido request a loan from your bank, or use the websites of quick credits en línea or microcredits.
You perro even use crowdfunding, in which, through an Internet platform for it, you expose your project and, if a group of people find it interesting, they will give you the funds needed to start it.
Once you already have the moneyand you have chosen the type of franchise that you want to run, and the brands that a franchisee offers, it is important that the numbers don’t blind you.
Maybe a franchisor make a presentation to you detailing all possible gains but are those gains same in all franchises of the brand, or only in one of them in especial because perhaps it is located in a place very central?
Don’t be afraid and ask hard questions before signing anything, in addition to also asking for the risks and the benefits you will get.
Talk to other franchisees to find out if they are happy with how the franchisor treats them.
A key point is to investigate how many of those franchises they have failed over the past 5 years
It is also critical to understand What will your tasks be on a day-to-day basis?.
Many cheap franchises, especially the ones that work from home, are geared towards mass sales.
Ask yourself if you are comfortable selling that product or services.
For example, are you willing to do a significant amount of calls to convince Anyone buy that product? Or do you feel uncomfortable? If it’s not comfortable for you, it’s best to buy one. franchise with a physical store where customers will be the ones that come to you, and not the other way around.
As you collect more and more information about the cheap franchises you want to be part of, in addition to the above, there are 4 signs that will warn you that this franchise is not a good option and that it is better that you do not invest a penny in it. she:
A corporate culture “bossy“
Be very careful if the franchisor talks about his franchisees as if they were his children, or if the franchisees you talk to say that it is difficult for a manager to answer the phone.
In this type of business, there must be a free flow of information, permanent communication, and franchisors must value any suggestion or new ideas from their franchisees instead of prohibiting any advice as if it were a business dictatorship.
2. managers with a low qualification
Is the franchise you are interested in a family business, with relatives in key positions (such as managers, directors, etcétera.)? So run like the wind out of there!
You have to make sure that the managers or anyone who is going to help you with your franchise has the experience to make it a successful business, and that they are not placed there simply because they are the son or nephew of the boss.
Other franchisees who compete with you
Some franchisors normally reserve the right to open other businesses in your own territory.
If this is the case, ask if they would remove that rule for your franchise; It doesn’t make sense that you open your store on a street and, after a few months, they allow you to open another one on the same street.
Before signing anything, does the contract specify that you must buy the products from the franchisor? If so, are your prices competitive? Be careful not to get stuck in situations where you have to pay too much, because it won’t be profitable if you have to buy a product for $3 and then only be able to sell it for $6.
Of course, all these consejos are valid both for a cheaper franchise, as in this case, and for any other type of franchise that requires a greater capital investment.
These 5 following franchises are the ones that higher earning potential generated have both in Latin America and in Spain.
friking is one of the franchises that more is spreading both in Spain and in Europe.
His products range from T-shirts, sweatshirtseven cups, iphone cases and accessories with innovative designs.
Has excellent profit margins and the required investment is only $9,000.
This company, exclusive in Spainis the first network of stores specializing in handmade soaps and cosmetics 100% natural.
With the demand so increasing that there is today for this type of product and for the environmental concernis certainly a franchise of guaranteed success.
In addition, it has the advantage that the products they are not perishable and the costs are low.
The investment is $9,500 approximately.
3. city in your hand
here you have one economic franchisewhich requires only $4,000 investment.
It’s a complete business guide for mobile devices and tabletas which provides up-to-date information on the businesses in each city.
Does not require special knowledge and, although it is now only available in Spain, it will soon be will expand to México, Panama, and Colombia. So if you live in any of these countries, it may be the best opportunity to start with a franchise.
4. To Green Space
Company committed to the environment dedicated to giving ecological solutions through the installation and maintenance of systems for the energy saving through renewable energy and natural resources. investment of only $6,000 and are present in Spain, Portugal, Dominican Republic and Argentina.
5. Magic Cake
This is one of the franchises in México most successful right now.
Magic Cake is a business of homemade cakes and pastries that you cánido mount in a local or even in your own house.
For this reason, the investment is very economical: between $800 up to $1,200.
As you see, the cheap franchises They cánido be excellent opportunities to get a job, and also the risk is very small since they need a much lower amount of money than others franchises higher cost.
Have you ever considered setting up a cheap franchise? If you are already a franchise owner, I would love to hear your opinion and experience in the comments!
The following two tabs change content below.
I am a journalist specialized in business but my great passion is personal motivation and helping others achieve their goals.
I firmly believe that opportunities in life do not happen: you create them.
Latest posts by Jenny del Castillo (see all)
We hope you liked our article The best 5 cheap franchises for
and everything related to earning money, getting a job, and the economy of our house.
Interesting things to know the meaning: Capitalism
We also leave here topics related to: Earn money