Hot franchises to launch now! (No experience needed)
Want to start a business, but have no experience? Ready to be your own boss? Interested in being a boss, but hesitant to strike out on your own? You might be the perfect candidate to buy a franchise. As a franchisee for a recognized brand, you follow the lead of the franchisor and use their tested and proven products, services, marketing skills, advertising tools, signage and systems of doing business to run your operation. As the International Franchise Association says, “Franchising is a way to be in business for yourself, but not by yourself.” You will be your own boss, but have guidance and structure.
Franchises in the United States represent 99.7% of all employer firms. They employ just over half of all private sector employees. Franchises pay 44% of the total U.S. private payroll and have generated 64% of net new jobs. Franchise operations hire 40% of high-tech workers. They create more than half of the nonfarm private gross domestic product. Franchises are inventive and innovative and produce 13 times more patents per employee than large firms. It is a great way to be your own boss if you lack experience.
An SBA loan is the most common type of loan for purchasing a franchise to be your own boss. Because the SBA provides up to an 85% guarantee to the bank, banks are more willing to assume the risk of lending money to a “start-up” business. It’s a common misconception that the SBA approves loans. The SBA only provides a guarantee to the bank; if the bank is a PLP lender (Preferred Lender Program) then the bank is still the entity approving the loan.
Be Your Own Boss
A bank will typically require you to provide 20% to 30% of the total cost of the business and the needed working capital to help you be your own boss. For example, if you need $150k to purchase your franchise and $50k in working capital, for a total project cost of $200k, the bank would want you to put $40k to $60K towards the project and the bank would provide a loan for balance. In addition to the capital injection the bank will require some form of collateral. This can be a combination of business and personal collateral such as the equity in your home, real estate or other investments. You can be your own boss!
Banks all differ on what criteria they focus on when deciding whether or not to approve a loan so you can be your own boss. These parameters are known as the bank’s credit box. Some banks place more emphasis on your credit score; other banks may be more interested in the amount of collateral you can provide. Some banks may avoid certain industries because they already have enough exposure to that industry in their loan portfolios. Knowing a bank’s “Credit Box” can avoid the frustration of applying to a bank that will have little or no interest in approving your loan. This is one of the reasons many entrepreneurs choose to use a loan consultant to help them obtain an SBA loan. A good consultant will know which banks will have an interest in your loan application and will only apply to those banks, thereby increasing your chances of a quick and painless approval. When you are preparing you loan application you will need to include a comprehensive written business plan, three years of tax returns, a personal financial statement and a personal resume. Visit sba.gov for more information on their loan programs to help you be your own boss.
We’ve gathered information on more than 100 franchises for this feature story. How will you decide to be your own boss? What franchise is right for your be your own boss journey? Contact the companies and conduct your own “due diligence” research to determine what are the best options for you as you get ready to be your own boss. Visit franchise.org for details on many more franchise opportunities. This feature is designed to inspire you to learn more. As you investigate various franchisors, ask these 10 questions to learn more about how to be your own boss.
What initial services do you offer? This will let you know the level of involvement you can expect from the franchisor to help you get your new franchise off the ground.
What assistance do you provide in obtaining finance? Starting a franchise can be expensive, so knowing whether or not you can expect some help from the franchisor is important.
What help will I receive in arranging local advertising and promotions? Are there standard promotions (radio spots, print ads, etc.) available for my use? Advertising can be a big upfront expense, so it is important to know if you will need to budget for your own advertising campaign or the franchisor offers assistance in this area.
Can you give me specific examples of problems that your franchisees have faced and how you have been able to help them? This question will help you find out how the franchisor supports franchisees. The franchisor should be able to provide examples about how a franchisee in need was helped.
What can you tell me about some of your franchisees that have been very successful? What about those who have not had great success? Knowing what has worked in the past (and what hasn’t) will be very beneficial in developing your business plan.
What kind insurance must I have? Do you have an arrangement with a broker or company offering special rates? Again, this is another expense that you may have to include in your budget.
Do you provide ongoing training in the form of workshops, conferences, seminars, regional meetings, refresher or advanced courses? Knowing that your franchisor will continually be offering support and guidance to help you be your own boss can put you at ease when you are starting a new franchise.
What is the day-to-day business like for your franchise? This important, often overlooked, question will let you know what you can expect on a daily basis as a franchisee and establishing my be your own boss regimen.
What employee characteristics are typically found among employees at one of your franchises? Employees are often the face of a business, so knowing what characteristics to expect could be important to your decision as you establish ways to be your own boss.
What are relationships like between the franchisees? Knowing if there is a familial feeling among the franchisees or heavy competition is an important dynamic to understand before becoming a part of a franchise.
Ready To Be Your Own Boss?
100+ Franchises To Consider Now
Alamo Drafthouse Cinemas
Alamo provides a unique combination of theater and restaurant, showing both first-run and
$$$: $1,250,000 – $2,785,000
All Tune And Lube
Total car care.
$$$: $11k startup cash is required.
Total investment: is $150k
Alta Mere Toys For Your Car!
Complete auto aftermarket line of accessories including security, video, GPS, and paint protection.
Total investment: ranges from $131,482-$164,382
American Ramp Systems
Low priced ramps for disability access to enable the aging and disabled population to remain at home.
$$$: $75k startup cash;
Total investment: $200k
Aussie Pet Mobile
Mobile pet grooming service.
$$$: $35k-$75k startup cash;
Total investment: $63,437-$124,687
Bagger Dave’s Legendary Burger Tavern
Unique, family-friendly, full-service restaurant with bar and premium burger menu.
$$$: $700k – $1 million; $30k franchise fee
Gastropub: Burgers, Bands and Bourbon
$$$: Contact the company for info.
An independent profit control and revenue enhancement service for bars and restaurants.
$$$: $46,900 – $50,900
Bottle & Bottega, Inc.
Artistic cocktail party. Art experience with wine.
Indoor private events facility.
$$$: $75k-$125k startup cash
Total investment: $126,647-$624,896
$$$: $55k-$150k startup;
Total investment: $79,240-$153,070
Retail frozen dessert store.
$$$: Total investment range is $230,624-$390,124
The largest commercial and residential painting company in North America.
Carpet cleaning with patented Hot Carbonating Extraction system.
$$$: $11,950-$40,750 startup;
Total investment: ranges from $27,950-$250k
Christmas Décor, Inc.
Professional holiday, landscaping service.
$$$: The total investment ranges from $11k-$50k
Weekly publication run from home.
$$$: Contact the franchisor for details.
Colors On Parade
Leader in auto appearance technology; cost-effective, same-day, non-collision, vehicle damage repairs
ComForcare Senior Services
Premier, provider of private-duty, non-medical
An international franchise concept that provides in-home care for seniors, new mothers or other adults needing assistance.
$$$: $61,450 – $88,500
Turnkey, biz-to-biz computer tech education programs to public and private schools, daycare centers & more covering all phases.
$$$: $35k-$49,500 startup.
Total investment: $62,925-$73,250
Fitness Center designed for women that uses medically-recommended weight-bearing equipment.
Total investment required ranges from $34k to $49k
Family Hair Care Value priced, quality hair services and products for the family.
$$$: $76k-$184,800 startup cash required.
Coverall Cleaning Concepts
Commercial cleaning service.
$$$: $3950 to $27,200 startup.
Total investment: $10,750-$32,200
Crack Team (The)
Foundation repair specializing in the use of epoxy-injection.
$$$: The total investment is $38,600 to $69,100
Creative Colors International
Repair and reconditioning of leather, vinyl, fabric, plastics and carpeting in the automotive and commercial markets.
$$$: Startup ranges from $19,500 to $27,500;
Total investment: $37,500-$71,400
Cruise One, Inc.
Cruise-only travel enterprise.
$$$: $9,800 startup.
Thirty-minute fitness/weight loss centers for women.
$$$: Total investment required ranges from
$36,425 to $42,850
Daily Juice Group
Made-to-order juices and smoothies prepared from fresh vegetables.
DirectBuild Franchising LLC
Consulting programs to clients that enable them to build or remodel a home without using a contractor.
$$$: Startup is $20k-$30k
Total investment required ranges from $99k to $195k
Dr. Vinyl & Associates, Ltd.
Vinyl repair and conditioning, plus leather, plastic and windshield repair.
$$$: Startup ranges from $15k-$20k;
Total investment: $44k to $69,500
DreaMmaker Bath & Kitchen
Bath and kitchen remodeling.
$$$: $87,500-$314,500 startup;
Total investment: is $112k-$339k
Decorative and architectural features.
$$$: $50k-$65k startup;
Total investment: $150k-$205k
Coffee and baked goods.
$$$: $240,100-$1.667 million total investment.
EduFit Franchise, Inc.
A franchised fitness concept providing convenient, appointment-based personal training services at reasonable prices.
$$$: $164,500 – $281,000
One-stop shop for custom embroidery, screen printing, promotional products, personalized gifts and other items.
$$$: Startup ranges from $43k-to $48k;
Total investment ranges from $179k-$185k
Express Employment Professionals
One of the nation’s largest staffing companies and it the only privately held company among the world’s 20 largest staffing firms.
Express Oil Change
Recognized leader in the quick-lube and automotive service industry.
Fantastic Sams Hair Salon
A full-service cutting edge hair salon for your family.
$$$: $50k-$75k startup.
Total investment: $125k-$231k
Flip Flop Shops
The Sunglass Hut of Flip Flop Shops
$$$: $25k startup cash.
Total investment: $167,300-$245,500
Floor Coverings International
Shop-at-home floor covering retailer offering more than 3000 flooring options from top brands at competitive prices.
Future Stars Sports Photography
Providing high quality and innovative sports photography products and services.
$$$: $19,500-39k startup.
Total investment: $19,500-$45k
Geeks On Call
On-site computer solutions for businesses and residential clients.
$$$: $60k-$121k startup.
Total investment: $60k-$180k
Get In Shape For Women
Small group, personal training for women.
Glass replacement for homes, businesses and autos.
$$$: $75k startup.
Total investment: $109,681-$261,681
Lessons and instructions.
$$$: $35,000 startup cash.
Total investment. $111,475-$427,675
Great Play Franchising
Gym concept for kids offering motor and sport skills, phys ed classes
Maintenance and repair of grout.
$$$: Total investment ranges from
Growth Coach (The)
Small business coaching, goal-setting franchise.
$$$: $7k-$33,900 startup.
Total investment: $38,200-$58,400
Highway 55 Burgers, Shakes & Fries
American class dining experience with quality food in casual, full-service, 50’s-diner style setting.
World’s largest retail hobby franchise offering hobby, toy and entertainment products.
The total investment: $175,000 to $350,000
Home-based non-medical personal care for the elderly.
$$$: $7k to $31,900 startup.
Total investment: $41,700 to $73,300
Home Instead Senior Care
Companionship and home care services for the elderly.
$$$: $39,050 to $52,050 total investment.
HomeTeam Inspection Service
The leading residential home inspection service in North America.
$$$: $58,000 – $71,500
A nationally franchised, professional handyman service and a leading property repair, remodeling and maintenance company in North America.
$$$: $86,000 – $112,500
Hungry Howies’s Pizza, Inc.
Originator of Flavored Crust Pizza; one of the nation’s largest pizza franchises.
Jan-Pro Cleaning Systems
$$$: $950-$36,500 startup required.
Total investment: $2800-$44k
Jani-King International, Inc.
World’s largest commercial cleaning franchise.
$$$: $2,000 to $70,300 startup.
Total investment: $8,170 to $74,000
Beautifies and maintains asphalt & concrete pavement.
$$$: Total investment ranges from $35k -$100k
JuiceItUp! – Balboa Brands
Smoothie & juice bar chain that specializes in blended-to-order real fruit smoothies & fresh-squeezed juices.
$$$: $137,200-$325k; $20k franchise fee.
Preschool and school age sports and fitness programs held at day care centers and other venues.
$$$: The total investment is $35,200 to $41,200
Diverse selection of quality merchandise for just-a-buck.
$$$: Total investment ranges from
$136,900 to $228,200.
Kennelwood Pet Resorts
Safe & healthy pet boarding.
$$$: $55k startup cash.
Total investment: $799,287-$1,059,499
Dance, gymnastics, motor skills for kids.
$$$: $12,000-$40,000 startup.
Total investment: $14,950-$46,100
Kindergolf PTE LTD
The company is based in Singapore.
$$$: visit the website for information.
Residential and commercial remodeling business offering cabinet refacing, new cabinetry, tub lining systems, closet organizers and more.
$$$: The total investment ranges from $83k-$90k
Tree, shrub, lawn care services.
$$$: $60k-$74,900 startup.
Total investment: $89k-$99,900
LED Lighting supplier that specializes in full-scale evaluations and retrofits, plus consultation with these energy-efficient lighting solutions.
Liberty Tax Service
Computerized tax preparation service that specializes in electronic filing and refund loans.
$$$: Total investment ranges
Liquid Capital Corp.
International network that helps small-and-medium sized businesses grow via factoring.
MAACO Franchising, Inc.
Driven Brands, Inc. “America’s body shop” with nearly 500 franchised locations across North America. Auto paint and auto body reapir.
McAlister’s Corporation Quick/casual restaurant chain featuring efficient counter ordering, high-quality deli-style foods and great price value.
$$$: $400,000-$1,475,000 total investment.
Quick service restaurant.
$$$: The total investment ranges
Meineke Car Care Centers, Inc.
Driven Brands, Inc. Full-service auto maintenance and repair specializing in brakes and general repair.
$$$: $21k-$29k startup.
Total investment: $26,350-$57,450
Money Mizer Pawn & Jewelry
Combining traditional financing services as well as upscale store setting offering quality retail products.
Mountain Mudd Espresso
Specialty coffee kiosk.
$$$: $66k-$203,500 total investment.
Mobile computer and technology service.
$$$: $30k-$54k total investment.
Nitelites Outdoor Lighting
Residential and commercial outdoor lighting.
$$$: $84k-$164,050 total investment.
Newk’s Franchise Company, LLC
Express casual dining experience with emphasis on fresh, flavor & quick service.
Lawn care service offering minimal or no pesticide treatments to primarily residential homeowners.
$$$: $75k to $125k total investment required.
Outdoor Lighting Perspectives
Residential and commercial architectural and landscape lighting and lighting control automation.
$$$: total investment $77,500-$215,000
OXXO Care Centers
Boutique-style more eco-friendly dry cleaners.
$$$: Total investment range $100,000-$1 million
Panchero’s Mexican Grill
A quick-service, fresh-Mexican franchise concept featuring homemade tortillas.
$$$: $305,175 – $629,000
Paws & Remember LLC
Pet memorialization and cremation.
$$$: Contact the franchisor for information; in biz since 1997, franchising since 2007.
Hot and cold subs, renowned for Philadelphia Cheesesteak sub, hot, fresh on freshly baked bread.
Multi-surface restoration, specializing in the renewal of worn or damaged kitchen fixtures and bathrooms.
$$$: Startup $3,500 to $5,000
Total investment: ranges from $29,500 to $42,500
Pillar To Post
Professional home inspection detailing more than 1600 key compenents of a home.
U.S.: 877-604-8584 Canada: 416-620-3960
Pirtek is the world’s leading service provider of ETA 1 Hour On-Site Hose Replacement centers and a fleet of 1,500 mobile units
$$$: $120k-$150k startup;
Total investment: $500k-$600k
Printwear Xpress Franchising Corp.
Personalized branded apparel.
$$$: Startup $40k-$50k;
Total investment: $148k-$170k
A chain of 1980s-themed fitness centers with exciting and affordable workout environments for all fitness enthusiasts.
$$$: $638,900 – $1,452,000
Fresh Mexican Cantina with bright, colorful atmosphere
A franchise concept that designs, builds and installs Glide-Out shelving systems
$$$: investment range is $70,100 to $125,500
World’s largest sign franchise.
$$$: $44k-$46k startup.
Total investment: $148k-$155K
Signs By Tomorrow
Visual communications consultant that utilizes state-of-the-art sign-making technology to offer a wide variety of customized sign products and services that provide creative and affordable solutions to businesses.
$$$: $19,000-$263k total investment.
Smoothies, nutritional snacks, vitamins under one roof.
$$$: The total investment ranges from $148k -$229k
Spring-Green Lawn Care Corp.
Traditional and organic lawn and tree care services nationwide.
Cleaning & disaster recovery services worldwide.
$$$: Startup $25k-$80k
Total investment: required $55k-$150k.
Freshly made sub sandwiches and more.
$$$: The total investment ranges from
Value hair salon owned by Regis Corporation.
$$$: Net worth of $300k and liquid capital of $100k req.
Sweet & Sassy
Children’s retail, spa and party.
$$$: In business since 2004, franchising since 2005.
Contact company for details.
Taste of Mediterranean
Serves delicious and nutritious Greek and Lebanese Food. Franchising in Canada and the U.S. 3 concepts, Restaurants, Food Court and Kiosk Locations.
$$$: As low as $95,000, their Franchise Fee is $20,000 (one time only) and they charge a flat royalty fee of $1000 a month.
World’s leading provider of good-for-you products served in a happy environment. Signature soft-serve, dairy-based frozen dessert is lower in calories, fat.
$$$: contact the company for info
TSS Photography, Inc.
Youth sports, school and event photography.
$$$: Startup range $15,500-$29,660.
Total investment: $38,750-$74,150
An economy extended-stay lodging and short-term residential property brand.
$$$: $3,500,000 – $7,000,000
We The People
We The People is a franchised high-quality, affordable legal document preparation service for consumers who choose to represent themselves in simple, uncontested legal matters.