What to Look For in a New Franchise
With the right franchise, you can quit your day job and work an entrepreneurial dream job. But with such a wide variety of options out there, it’s hard to choose the right one. The Top 10 Franchises You Can Start from Scratch is here to help! If you want to run a business but need help getting started or don’t feel confident in your own entrepreneurial skills, then this article is for you! We compile a list of franchises that can be started with little or no startup capital which offer training programs and support networks for entrepreneurs who are just starting out.
1. Subway Franchise
Franchises: More than 43,000 Subway restaurants are operated by 36,000 franchisees across the country.
What to Look For:
There are many variations within the Subway family of sandwich shops. From standardized menu items like footlong subs and water foot-longs to more premium sandwiches such as the French Dip and Roasted Chicken Breast Sub, there is something for everyone! Most franchises feature a classic menu with some variation in their offerings to keep things fresh. Many franchises also offer freshly prepared soups and sauces, which can be purchased at the end of your meal or offered as a side to your sub (or “foot”). Franchisees will also have the option to add local specialties to their menus, keeping the appeal of their shops local.
Many Subway franchises are independently owned and operated small businesses. If you’re a business owner who wants to work a few hours a week and still have time for your family or other interests, then this may be the franchise for you! The inventory system used at Subway is straightforward and organized, with abundant support available from corporate staff to help you learn what you need to know. Because Subway franchises are individually owned and operated, there is great potential for growth within the brand if you would like to grow your business down the road.
Freshly prepared food made to order, customized for each customer, and available at a great affordable price makes Subway restaurants one of the most popular franchises in the country. Customers purchase over 1.2 billion sandwiches a year!
What You Need:
Requirements to open a Subway franchise vary depending on your restaurant and location. In general, you should have between $80,000 and $150,000 available in liquid assets to open a new franchise or purchase an existing one. Your investment will vary based on location and size as well as whether you choose to buy an existing franchise or start your own brand new store. A good place to get started is the Subway Franchise Disclosure Document , available online from Subway’s corporate offices.
Address:
Subway, Inc.
16801 Schafer St.
Milwaukee, WI 53223-5399 USA
E-mail: franchise@subway.com
Phone: 414-765-1300 Fax: 414-765-1298 Toll Free: 800-888-4848 Website: www.subwayfranchise.com/contact/index.html
2. LegalZoom Online Legal Services Franchise Opportunity
Franchises: Nearly 1 million clients per month turn to the company for legal advice and information on a variety of topics including small business incorporation and trademark registration, divorce and family law, bankruptcy and real estate purchases or sales.
What to Look For:
The legal field is a good option for many business owners who want to set their own hours and still be their own bosses. With the LegalZoom franchise, you can do just that! You can work part time or full time as one of thousands of licensed attorneys in the U.S., Canada and Mexico. As an attorney with LegalZoom, you’ll have the opportunity to help clients achieve their goals and dreams, whether it’s forming a new business, buying a home or filing for divorce.
LegalZoom has a wide range of legal solutions available to help you get started. For a flat monthly fee, you can bring your legal questions to an expert attorney for professional advice and counsel. LegalZoom does not provide legal representation or financial advice. The cost of litigation and the fees charged by attorneys vary from state to state and from attorney to attorney.
Franchisees come from all different backgrounds including lawyers, CPAs, real estate brokers, small business owners and insurance agents. Whether you’re an experienced attorney looking for a change or just want to consult on days when your schedule is light, LegalZoom provides the flexibility you need in an entrepreneurial opportunity.
What You Need:
Becoming an Attorney With LegalZoom is a two-step process. You need to start with a degree from an accredited school and then present in your state for initial review. You can then complete the online legal assistant course and get your public access number (PAN) or similar license from the state. The franchise will start you on the path to becoming a LegalZoom Attorney by sending you real estate purchases and sales contracts, personal injury settlement agreements, living wills and much more. If you pass the state exam, they will help you get started on your own practice!
The average investment needed to open an office is around $20,000 – $30,000. The initial cost of equipment such as computers and printers is around $5,000–$10,000.
3. iLoveKickboxing.com
Franchises: Currently there are over 45 stores open in 16 states and 1 store in Canada. Check the website to find out if there is a gym opening near you!
What to Look For:
iLoveKickboxing.com is a great way for you to get into the lucrative fitness industry, where nearly 11 million Americans belong to a health club and more than half of those people pay monthly dues. There is no better time than now! In recent years, the sport of kickboxing has become much more widely accepted, with high-profile athletes and celebrities endorsing it as a form of exercise and self-defense.
Kickboxing is a workout that provides both cardio-vascular and muscle fitness. It is great for weight loss, endurance and burning calories. All members go through a “boot camp” style warm up before the actual class begins, which gets your blood pumping and body warm for a great workout! Classes are taught in groups of eight participants or less to ensure maximum individual attention from the instructor. You’ll get in a full hour of professional kickboxing lessons with the option to take an additional class for only $10 per month!
What You Need:
The estimated initial investment to open an iLoveKickboxing franchise depends on whether you decide to lease or buy.
Conclusion
The franchise industry is a great way to go into business for yourself while still maintaining your independence. It is a great alternative to traditional streams of becoming an entrepreneur. This is due to the fact that franchising allows you to both have a pre-existing business model and brand name backing you, as well as being able to maintain your own work life balance, which may be something you would not get with a traditional small business.