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Today could be the day you take the first step toward franchise ownership. Becoming a franchise owner can be a watershed moment in your life and career, and finding the best low-cost franchise helps you get started right.
But with so many industries, which one has the best low-cost franchise opportunities, and how do you get started? With our help, you can get the answers you need.
When searching for the best low-cost franchise, a good way to begin is by stepping back and taking a look at everyday life. What goods or services do all people need or will need in the future, and which offer entry at a reasonable price point?
That approach can point future owners to industries with the most potential and requiring the lowest investment, including cleaning brands. There’s always a need for cleaning services, and many franchises in the industry can get a new owner up and running for a relatively low investment.
A factor to remember when considering the best low cost franchise options and selecting the one that’s right for you is the industry’s performance over the years. For cleaning brands, that can present a challenge.
Residential cleaning services have seen slow growth over the past five years. That sort of static market can make it more difficult for new owners to establish themselves, and expansion plans might take longer to implement than in other industries.
One of the secrets to franchising is that every owner gets a customized experience. The best low-cost franchise for one person might not be the right choice for another — it all depends on owner preference and what they’re passionate about.
A great example of this kind of natural selection in action is athletic programs. For some prospective owners, a sports program designed with low-cost franchises in mind can be a perfect fit and allow them to do what they love.
The same factors that can make sports programs a good option for some owners but not others can come into play when considering long-term ownership. Sports participation in the U.S. is not a given and has seen both upswings and downturns.
Additionally, the ubiquity of sports in American culture can crowd the market in some areas. Keep these concerns in mind when researching the best low-cost franchise selections.
One of the realities the nation faces is an aging population. Many baby boomers are solidly in their senior years, and the rest are fast approaching theirs, leading to an increased demand for personalized, targeted senior care services.
An assisted-living franchise can be the answer. Running an assisted-living placement franchise lets owners provide an essential service to their communities at a low investment cost and with a network of support behind them.
As mentioned earlier, an industry should have a record of growth to be an appealing option for an expansion-minded owner, and the assisted-living business fits the bill. It’s a field that’s seen steady growth for years, including a 9.1% increase over the past year alone.
And the industry is expected to continue to see expansion in the coming years as more seniors nationwide will need an honest advocate when searching for a living situation that allows them to enjoy rich, fulfilling lives. It can make assisted-living services ideal for owners who want to give back to the people around them.
Once a potential owner finds the industry that interests them, it’s time to get moving. Joining a brand might seem like a monumental task, but it’s just a step-by-step process that begins with the future owner contacting their chosen low-cost franchise.
The brand should be ready to lend a hand throughout the onboarding process. They’ll provide the prospective owner with a Franchise Disclosure Document that lays out their financial and franchise structure in detail and will assist them in understanding the critical aspects of the business.
The franchise can be an invaluable aid during onboarding, buildout, staff hiring, and much more. They’re experts in the field and have developed their business approach with ease of operation as a priority, and they’ll help out with training and any other issues that need an experienced touch.
Brand support during the franchise’s Grand Opening and after can be especially important. Pick a franchise that believes in delivering effective, ongoing assistance whenever it’s needed, no matter the issue.
Assisted-living services are more in demand every day, and Assisted Living Locators is there to deliver. We’ve developed a franchise focused on community and care, and it’s helped us grow into a national brand with future growth plans.
Assisted Living Locators is expanding into new territories, and we’re looking for potential owners to help us grow.
Want to find out more? Contact us today!
Angela Olea is a visionary and accomplished business leader in the senior care industry. She is a respected authority on franchising, elder care and senior placement, serving as a guest speaker at state and national aging conferences. In 2019, Angela received the honor of Top 50 Most Influential Women's in Arizona and the Visionary Award from Az Business Magazine.
