Are you tired of navigating office politics and feeling unfulfilled at your current job? Finding affordable franchises with high earning potential can be the start of a better future.
At least 73% of entrepreneurs are “somewhat happy,” or “very happy” as business owners. Entrepreneurs have the freedom to shape their future and see the direct impact of their decisions on their success, fostering a deeper sense of accomplishment and well-being. Business owners have the autonomy to innovate and create a work environment that aligns with their values and goals.
But you’re not alone if fear is holding you back from achieving the American dream. At least two out of five adults want to start a business but are too afraid to take the leap, according to the Global Entrepreneurship Monitor. With financial constraints and fear of failure looming, choosing a supportive, low-cost franchise can pave the way to a successful and rewarding business venture. Franchising enables you to open a business with a proven brand, training, and ongoing support. And affordable franchises under $100K won’t break the bank.
By requiring less capital upfront, affordable franchises minimize the initial financial strain and reduce risk, making them an attractive option if you’re cautious about investing large sums of money. They also typically have a faster break-even point and a simpler business model, including less staff and minimal inventory. Starting with a low-cost franchise allows entrepreneurs to start slow without a significant financial commitment and grow at their own pace.
Apex Leadership Co. is one affordable franchise example with the potential for high returns. We’re an event-based fundraising business that is a low initial investment franchise for entrepreneurs who are passionate about leadership and fitness. Our mission is to positively influence young lives through school fundraising programs focusing on fitness and character building.
Here are our 10 vital tips to find the best affordable franchise for you:
- Research industry trends: Investigate thriving industries with growth potential. The pandemic prompted a rise in giving to our nation’s schools. According to the latest data from Blackbaud Institute, the average donation to K-12 institutions was $1,494 in 2021. Since annual contributions account for 5% to 10% of the typical U.S. school’s operating budget, launching a school-focused fundraising program, like Apex, presents a robust business opportunity.
- Understand the costs: Get a clear understanding of all the costs involved, including initial franchise fees, setup costs, ongoing royalties, and any other operational costs. Ensure these are within your budget and financial capacity to manage without undue strain. Service-based franchises like cleaning, maintenance, personal fitness, and event planning typically offer lower startup costs than manufacturing or foodservice industries, which require significant investment in equipment and real estate. The low initial investment for Apex’s work-from-home franchise starts at $81,000. We require our franchise owners to have a minimum net worth of $200,000 with liquidity of $75,000 to $100,000.
- Evaluate the franchisor’s support: A good franchisor should offer extensive training, marketing assistance, operational support, and ongoing guidance. Strong support can mitigate many of the risks associated with starting and running a new business. Apex provides initial training for two owners and three team members. Our initial training is conducted virtually and covers how to form relationships with schools, run programs, and business operations. We provide 31 hours of virtual training and 24 hours of on-the-job training. Each franchise owner has a business coach, and we offer ongoing training once your location is open.
- Check franchisee satisfaction: Contact existing franchisees to get insights into their experiences with the franchisor. Their satisfaction levels and the reality of operating their franchise can provide valuable perspectives that are not always visible in promotional materials. Apex has approximately 112 outlets and has a 25% annual industry growth rate.
- Analyze territory rights: Understand the territory rights that come with your franchise. Ensure that you have adequate market potential in your designated area without oversaturation or internal competition from the same brand. Apex offers exclusive territories, guaranteeing that no other franchisee or company-owned outlets will compete within a specified area.
- Review the legal documents: Carefully review the franchise disclosure document (FDD), which contains crucial information about the franchisor’s legal, financial, and operational matters.
- Consider market demand: Evaluate whether the product or service offered by the franchise meets a genuine demand in your target market. A business that satisfies a consistent need is more likely to succeed. There are at least 98,577 public schools and 30,492 private schools in the U.S., according to the National Center for Education Statistics, putting Apex franchisees in a great position.
- Plan for scalability: Consider whether the franchise offers the potential for growth. Can you expand your operations or buy additional territories in the future? A scalable business can increase your return on investment. Apex’s average franchise owner has at least two and a half territories.
- Reflect on lifestyle compatibility: Consider how the franchise aligns with your lifestyle. Certain franchises require extensive hours, including weekends. Make sure that the business model complements your personal and family commitments. Apex franchisees succeed without needing an office or retail space. With our remote business model, you can benefit from a flexible work schedule throughout the year, enabling you to pursue entrepreneurship without sacrificing time with your family.
- Assess your skills: Start by evaluating your strengths, skills, and areas of interest. Choosing a franchise that aligns with your previous experience can reduce the learning curve.
Let’s Get Started!
At Apex, we enable you to build an affordable business that aligns with your values and focuses on community service, providing more than just financial returns. Our franchise owners receive comprehensive training and support, enhancing their ability to achieve their goals without prior experience in fundraising.
To learn more about partnering with Apex to launch a low-cost franchise, request information and connect with someone from our team.