10 Best Cheapest Franchises In 2024

According to Zippia, there are more than 700,000 franchises in the country right now, which makes it a perfect time to break into the franchise industry. However, if you are just starting and want lower risk then you should definitely take a look at our 10 best cheapest franchises to own in 2024.

10 Best Cheapest Franchises

Franchising can be hard, especially if you are tight on budget, but still want to get your feet wet with franchise ownership. However, as the saying goes, ‘every problem has a solution’; well, this one does, too.

For this reason, we gathered 10 solutions that will solve your problem of owning a franchise in a budget. So, keep reading!


10 Best Cheapest Franchises

1. Dream Vacation

10 Best Cheapest Franchises- Dream Vacation
Founded in1991
Franchising Since1992
Estimated Outlets1,874
Initial Investment$1,795-$21,000
Franchise Fees$495-$10,500
Liquid CapitalN/A
Royalty Fees1.5%-3%

Dream Vacation is a business travel agency which was founded in the year 1991. It offers deals to travel-related businesses like vacations, cruises, and other travel services using a proprietary system.

The company is one of the best-operating travel franchises that values its repeat customers. As a Dream Vacation franchisee, you’ll receive dozens of hours of training that will cover the needs required to operate the franchise.

Moreover, this franchise is known to be innovative and offers the best technology to its franchisees. To own this franchise, you must make sure that you are financially ready.

Read our complete guide to get full details on Dream Vacation Franchise.

2. Cruise Planners

10 Best Cheapest Franchises- Cruise Planners
Founded in1994
Franchising Since1999
Estimated Outlets2,720
Initial Investment$2,295-$23,465
Franchise Fees$695-$10,995
Liquid CapitalN/A
Royalty Fees3%

Cruise Planners is a privately owned American travel agency network specializing in vacation planning and creating excellent itineraries for travels in the U.S. and Canada. It was founded in the year 1994.

The company also made it to the list of Entrepreneur’s Franchise 500 many times in recent years. There are many advantages of owning Cruise Planners, but one that stands out from the rest is that it is a home-based franchise.

This means that you can always run the franchise business at your place and at your time. To own this franchise, you require an initial investment of $2,295-$23,367.

Read our full guide on Cruise Planner Franchise to get more details.

3. Corvus Janitorial Systems

Corvus Janitorial Systems
Founded in2004
Franchising Since2004
Estimated Outlets1,959
Initial Investment$9,575-$34,500
Franchise Fees$8,500-$18,500
Liquid CapitalN/A
Royalty Fees10%

Corvus Janitorial Systems is a franchise commercial cleaning and janitorial service company. It was founded in 2004 and began franchising in the same year.

The company offers high-quality janitorial services such as disinfecting, electrostatic cleaning, restroom cleaning, trash service, sanitizing, floor and carpet care cleaning, and many more.

It is also ranked #6 in Entrepreneur Magzine’s highly sought-after list of “Top Franchises For Less Than $50,000”. Therefore, owning this franchise means that you’ll be part of a well-known franchise.

It also offers a 20% off on franchise fee of nearly $8,500 for veterans.

4. Vanguard Cleaning Systems

Vanguard Cleaning Systems
Founded in1984
Franchising Since1984
Estimated Outlets3,118
Initial Investment$5,500-$37,100
Franchise Fees$5,000
Liquid Capital$7,000-$45,000
Royalty Fees11.5%

Vanguard Cleaning Systems is a commercial cleaning service company offering services like janitorial, office cleaning, commercial and green cleaning.

It was founded in 1984 and since has expanded to over 3,000 independently owned franchises throughout North America.

So, if you wish to enter the cleaning service industry without too much hassle, then opening a Vanguard Cleaning System franchise is an ideal choice for you. As a Vanguard Cleaning System franchisee, you’ll receive an in-depth training program.

Get more details on the Vanguard Cleaning System Franchise by reading our complete guide.

5. Sign Gypsies

10 Best Cheapest Franchises- Sign Gypsies
Founded in2014
Franchising Since2020
Estimated Outlets800+
Initial Investment$4,150-$9,900
Franchise Fees$1,000
Liquid CapitalN/A
Royalty FeesN/A

Sign Gypsies is a customer yard greeting rental service which was founded in 2014. The company specializes in providing a special and customizable experience with its high-quality yard signs.

It started franchising in 2020 and since then has expanded to over 800 locations worldwide. Sign Gypsies is one of the fastest-growing and biggest yard greeting companies in the US.

As for Sign Gypsies franchisee, it offers extensive classroom training of nearly 7.5 hours. The training covers all the details like the service of the company, operational education, and other management issues to make sure that your franchise business will run smoothly.

To get more details on Sign Gypsies Franchise, read our complete article.

6. Card My Yard

Founded in2014
Franchising Since2017
Estimated Outlets533
Initial Investment$9,800-$18,000
Franchise Fees$8,000
Liquid CapitalN/A
Royalty Fees25%

Card My Yard is a greeting service franchise founded by Amy Arnold and Jessica Stanely in 2014. The company offers yard signs to help its customers celebrate special occasions in their yards.

Card My Yard started franchising in 2017 and since then has grown to operate 500 stores in around 30 states. As a Card My Yard franchisee, you can work from home with little to no overhead cost.

If you are creative, enjoy flexibility, and are willing to put your 100% hard word, then Card My Yard is for you.

Read our full guide to get details on Sign My Yard Franchise.

7. Leadership Management International

Leadership Management International
Founded in1966
Franchising Since1966
Estimated Outlets489
Initial Investment$20,000-$27,500
Franchise Fees$15,000
Liquid CapitalN/A
Royalty Fees6%

Leadership Management International is a company founded in 1966 by Paul J. Meyer. The company offers programs and courses to help people reach their personal and professional goals. It largely focuses on promoting leadership skills.

The company now offers its programs and services in dozens of countries. There are over 400 Leadership Management International locations throughout the world out of which 100 are located in the US.

This franchise also offers the option to franchisees to operate the business from home or part-time. Therefore, as a franchisee of Leadership Management Leadership, you should expect to engage in your business’s daily operations.

8. American Poolplayers Association

American Poolplayers Association
Founded in1981
Franchising Since1982
Estimated Outlets340
Initial Investment$23,211-$29,026
Franchise Fees$10,000-$12,000
Liquid CapitalN/A
Royalty Fees$2.50+/team/wk.

American Poolplayers Association was founded in 1981 by professional players called Texas “Terry Ball” and Larry ” The Iceman” Hubbart.

There was no organized pool league system in the United States before the American Poolplayers Association was introduced.

The company then filled the gap and currently oversees the American Poolplayers Association 8-Ball League and American Poolplayers Association 9-Ball League in the United States.

9. Mint Condition

10 Best Cheapest Franchises- Mint Condition
Founded in1996
Franchising Since1996
Estimated Outlets395
Initial Investment$4,644-$32,384
Franchise Fees$3,000-$22,000
Liquid Capital$1,000-$6,000
Royalty Fees9%

Mint Condition is a commercial cleaning company that offers building maintenance and janitorial services. It was founded in 1996 by Jack and Marcy Saumby. They began franchising, and currently, the company operates over 400 locations in the USA.

The company has also been ranked in the Entrepreneurs Franchise 500 list based on the evaluation of more than 10 points.

It has also been ranked as the fastest-growing franchise multiple times in recent years. Therefore, by opening the Mint Condition franchise, you can enjoy the benefits of investing in the commercial cleaning industry.

10. Chefs For Seniors

Chefs For Seniors
Founded in2013
Franchising Since2017
Estimated Outlets84
Initial Investment$12,575-$29,375
Franchise Fees$8,000-$13,000
Liquid Capital$1,000-$6,000
Royalty Fees8%

Chefs For Seniors was founded by Barret Allam, a restaurant owner and executive chef for over 25 years. He wanted to balance his skillset to serve the community along with finding time for his family.

Therefore, the company places professional chefs in the homes of the elderly, giving them the option of eating well and being around a friendly and relationship-embracing person.

The company started franchising in 2017 and, since then, has expanded to over 50 units in operation.


When Should You Choose The Cheapest Franchise?

The right time to invest in a franchise is when you understand all the advantages of franchising. Some of them are listed below:

1. Accessibility

Smaller franchises are easily accessible to entrepreneurs. They are also easier to acquire and manage than large franchises.

Thus, owning a low-cost franchise is a great way to get started and an opportunity that poses a lower risk than larger franchises which is due to its lower costs.

Low-cost franchises are also easy to scale as you’ll have more money coming in, which you can invest in the growth of your franchise.

2. Flexibility

Most often, the cheapest franchises are home-based franchises, which means you can conduct the franchise sitting in the comfort of your home.

All you need is good wifi, cell service, and you can name your own work hours, work in pajamas, and enjoy an excellent work-life balance.

3. Affordability

One of the biggest advantages of investing in a cheap franchise is a smaller investment. A typical franchise cost ranges between $50,000 to millions or more. However, a low-cost initial franchise fee is as low as $10,000.

With a franchise cost that low, you don’t need to apply for a loan and end up in the hassle of banks. Also, with low cost, you are also mitigating the risk factor.


Factors To Consider Before Investing In The Cheapest Franchise

There are a plethora of things to look for when buying a franchise. However, there are also some crucial factors that you must consider before investing in the franchise or signing a franchise agreement.

Those factors are listed below:

1. Learn About Franchising

There’s no doubt that franchising offers multiple benefits, but it is also true that there are a plethora of legal terms in franchising that you must understand.

Therefore, it id highly recommended to learn about franchising and its legal terms. You can also take the help of an attorney who is an expert in the industry.

It’s also important to ask plenty of questions to the franchisor and understand how the franchise model impacts how you conduct the business.

2. Understand The Franchise Agreement

This document is a legally binding contract between you and the franchisor that establishes the rules and guidelines you must follow as a franchisee.

Again, it is highly recommended to hire an attorney and make sure you understand your rights and duties under every clause.

Once the franchise agreement ends, the franchisor is not liable to renew the franchise. Instead, all the goodwill that you’ve built will go back to the franchisor.

3. Know Your Financial Risk

Running a business involves many types of risks that are typically out of your control, such as the level of competition and the state of the local or global economy. The same goes with franchising; it also consists of risks that you should be aware of.

  • Extra Funds: You’ll need extra funds to cover the unanticipated costs while operating the franchise. This happens because, most often, franchisees experience loss at the initial stage of the franchise.
  • Consumer Demand: consumer demand may differ in every geographical location. One franchise location might perform better than another one in another region.
  • Inventory: Suppose you find a supplier offering cheaper prices for the stocks you need, in this case, you won’t have the choice to buy them as your franchisor may have long-term contracts with the existing suppliers, resulting in your loss.

Comparison Of 5 Cheapest Franchises

Company NameDream VacationCruise PlannersCorvus Janitorial SystemsVanguard Cleaning SystemSign Gypsies
Founded19911994200419942014
Outlets 1,8742,7201,9593,118800+
Franchise Fee $495-$10,500$695-$10,995$8,500-$18,500$5,000$1,000
Initial Investment $1,795-$21,000$2,295-$23,465$9,575– $34,500$5,500-$37,100$4,150-$9,900
Royalty Fee1.5%-3%3%10%11.5%


Conclusion

So, overall this is our list of 10 best cheapest franchises that you can own in 2024. These cheapest franchises offer you an opportunity to get your feet wet with franchise ownership with lower risks.

This is because the franchise fees and initial investment are low, thus reducing the risk. Opening the cheapest franchises can also be easily managed and acquired.

However, there are also a few factors that you must look for before even investing in the franchise.


FAQs

Which is the cheapest franchise?

According to our list, the cheapest franchise the cheapest franchise is Dream Vacation. It requires an initial investment of only $1,795-$21,000 which is less as compared to other franchises.

What is the profit margin of franchise?

A good franchise’s expected range of return on investment should be at least between 25% and 50%.

Can I make a living by owning a franchise?

Yes, various factors determine how much a franchise owner earns. The average salary of a franchisee is $80,000 every year. Therefore, you can make a living by owning a franchise.

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