The hardest part about getting into business is the startup capital that you need. Most businesses require a high initial investment that keeps many starting entrepreneurs from being able to get into business in the first place. But, the truly ingenious business ideas are the ones that allow for low startup costs and high potential income.
Looking at the many different franchise opportunities, you’ll be able to begin to see what I mean. Subway seems to top the list of best franchise opportunity no matter which list is comparing it. That’s because they have a great marketing package with a rather famous speaker who can boast of losing a massive amount of weight. New celebrities are joining the ranks and starting to do Subway commercials as well. That’s why a Subway is bound to be successful.
But, look at the startup capital you are going to need to open a Subway for yourself! The franchise fee itself is $15,000. But, that’s not all! That’s just the surface. Your total investment can be as low as $75,000, but it can be as high as $220,000 to get started. And then there’s the little unknown detail that is hardly advertised. A royalty of 8% is also charged for the right to have a Subway. For some people, it’s not hard to come up with that initial investment money. But for most beginning entrepreneurs, that initial investment money takes them out of the running.
For as low as about $20,000, you can get started in a janitorial business that services office buildings. You’ll only need as low as $8,600 for a franchise fee and then another $11,300 is about as low as you can go for the initial investment for all startup supplies and everything. That’s much less than the $235,000 you would need for a Subway. But, even a janitorial service can cost a great deal to get into if you don’t have that kind of money to start up with.
Why would it be that high to start a janitorial service? You would need your own transportation to bring your services to each office you have contracts with. You would also need some supplies, which might require some major equipment. Buffers and vacuums aren’t cheap when you are talking about industrial strength equipment. Also, the chemicals and everything else you would need. Brooms, mops, mop buckets, paper towels, dusters…etc. You can cut corners on some of the supplies you would need. But, it would still add up in the long run.
An art workshop center is a very low cost proposition. Especially if you would be willing to cut all the corners you can to at least get it up and running. Starting an art workshop in your own home takes most of the overhead away. With as little as a few hundred dollars, you can have all the supplies you need. Your students can be required to bring their own. But if you take tuition before class begins, you can offer your students bonus supplies to get them started and you’ll have the money to cover the expense.
Some franchise opportunities like Subway are sure bets if you have the money to get started and you are dedicated enough to stay from opening to close to grant your own success. Other franchise opportunities allow you to set your own hours and earn a high income potential while minimizing your effort like an art workshop. If you are serious about business, there will be plenty of opportunities come your way. Having a low startup cost versus high income potential will have you in business as soon as tomorrow compared to getting loans, acquiring supplies, acquiring equipment and all of the other hassles.
