As a potential entrepreneur you have undoubtedly considered the possibility of investing in a franchise of one type or another. Certainly you are aware that many franchises require significant upfront cash investment to even get off the ground. The #1 franchise at present, Hampton Hotels, requires from $4 to $13 million. A typical McDonald's franchise has start-up costs from $1 to $2 million.
Even something as simple as a Subway costs up to $250,000 to open. Of course, there are low-end franchises available with much less cash involvement to open the doors. Candy Bouquet offers a $10,000 start up franchise, Disaster Kleenup has an opening cost of around $18,000, and SuperGlass Windshield Repair offers to get you going for just $9,900.
Should you rush out and grab one of these inexpensive to start franchises just because they are cheap? Well, before answering that question about any franchise, you should do some soul searching and discover just what it is you are seeking in your new business endeavor. Here's a few things you need to consider:
- What is the realistic income potential I can expect?
- Am I looking for a part time, supplemental income, or a family-supporting full time business?
- How much time am I willing to invest every week?
- Will my spouse be dependent on this income also?
- Will my spouse be part owner/operator with me?
- What is the realistic initial investment?
- Can this be an at home startup that can grow as needed?
- Will I need offices, telephones, computers, and full time staff?
- What role will the franchisor play?
- Is complete training available?
- Do they provide advertising and potential client names?
- Do they help train staff and provide help with payroll, etc?
- Do they have comprehensive business software?
- Is their track record impressive?
- Is money all I am looking for, or are there other, intangible things to consider?
The list can be endless, but these are all important, even vital considerations. As a general rule of thumb, the less upfront cost involved, the less potential for real, significant income. If you are looking for an income that can potentially support you and your family, then perhaps a higher investment is required. But there are opportunities that do not require the outlay of a fast-food franchise or a hotel. Furthermore, you would be wise to seriously think about that last question above (#15).
Wouldn't it be great to make a decent income and to have a real impact in your community? Wouldn't you like to make a difference in the lives of your clients and their families? There is a franchise opportunity available at this time that is rewarding not only financially but also because of the satisfaction it brings you as you help build stronger families and successful students for your clients. Since it doesn't cost an arm and a leg to get started, it is definitely worth exploring this franchise. This franchise opportunity provides both nannies and tutors to client families.
Let's look at it briefly.
As more and more American families become two income households they are experiencing the need for good quality nannies for their children. Older children are often struggling in their schoolwork due to the lack of help from mom or dad.
By offering both nannies and tutors these new franchises are fulfilling a vital role in local households. They are doing it by offering, not just babysitting services, but nannies and tutors who are college trained. These nannies and tutors offer children the distinct advantage of helping with homework and challenging the child to grow in his/her educational endeavors.
These franchises are able to impact family life, to nurture students, and to create an environment in the household that leaves a positive impact while fulfilling much needed childcare responsibilities. The franchise owner is rewarded not just materially but with the knowledge that his efforts are making a real, genuine difference in the lives of his clients. Now, that is a franchise opportunity worth looking into.