NEW YORK (
) -- Starting a business is tough enough these days, so why not choose one that doesn't clear out your savings?
It's no secret that franchise investing provides, in many cases, a proven model of business that first-time owners can rely upon. Besides a franchisee playbook, parent companies also offer ongoing support and assistance in the form of marketing, technical help and sourcing, for instance.
Yet today's franchised concepts are much different than that of even, say, five years ago. The recession put a damper -- in some cases a permanent damper -- on traditional capital access to finance business ventures. Many of today's franchisees are looking for more economical investments.
Service-based franchises require much lower investment than the large franchised names we know of today.
Franchises Take On Manhattan
Independent franchise advisor
cautioned though that interested parties do need to do their homework. While there are plenty of decent franchise opportunities in the $100,000 range, many of them are either home-based or small-office based, meaning that the franchisee better be up on his sales skill sets to get business.
"Make sure that you are an outgoing, engaging person before you even start to look at franchises that are in the $100,000 range," Libava said. "This is not the time to see if you can become a great salesperson. It's too expensive of an experiment and if it was a failed one, it could take years to recover from, depending on your financial situation."
"But if you are a strong salesperson, and love being out of the office selling, as long as you're comfortable with rules, I recommend spending a good deal of time investigating low-investment franchises," he wrote in an email. (Libava disclosed that he recently did content marketing for
, a franchise listed in this article.)
Some of the companies listed below offer investment ranges that can go above $100,000, in some cases hundreds of thousands above that limit. We've chosen to include certain concepts because of the growth prospects for their niche industry or because the concepts have lower-end options for someone with a $100,000 investment budget.
That said, here are nine concepts to consider: