Want to become your own boss? Buying a franchise lets you start your own business by using an established company’s name, logo, products, and business processes. In fact, franchising already employs millions of Americans, generating over $787 billion for the US economy in 2019, and it is forecast to grow in 2020 despite the COVID-19 pandemic. From fast-food to fitness, travel to fashion, click or scroll through to take a look at a range of franchises that may tempt you to invest – including proven businesses that can be set up for less than $20,000. 

Initial franchise fee: $495 - $9,800
Estimated initial investment: $1,795 – $20,300

Founded in 1991, Dream Vacations allows you to start your own travel agency – from home. The start-up costs are attractively low with few overheads, and the franchise fee is pegged to your level of industry experience (the more you have, the less you’ll pay). The travel sector has been badly affected by COVID-19, but there will undoubtedly be huge commercial demand for travel post-pandemic.  

Initial franchise fee: $695 - $10,995
Estimated initial investment: $2,295 – $23,665 

The cruise industry has been especially hard hit by COVID-19 – but cruise ship companies boast loyal customer bases, and the industry says bookings for 2021 are almost at the same level as they were this time last year. Like Dream Vacations, Cruise Planners can be a home-based franchise that is relatively low-cost.      

Initial franchise fee: $1,000 
Estimated initial investment: $74,428 – $156,590

Kumon Centers provide after-school math and literacy development programs, aimed at children who could benefit from extra learning support (and parents keen to give their child an academic advantage). High School math teacher Toru Kumon developed the Kumon method of learning in Japan more than 60 years ago, and Kumon Centers now teach kids aged three to 13-plus in 50 countries. 

Initial franchise fee: $1,250 
Estimated initial investment: $2,405 – $17,155

Are you a born mover, shaker, and fitness freak? Then Jazzercise’s dance and aerobics classes could be your ideal business.  Founded in 1969, Jazzercise classes can be found in over 8,000 locations across 32 countries – and set-up costs can be modest, starting at just a few thousand dollars.

Initial franchise fee: $2,520 - $44,000
Estimated initial investment: $4,170 – $56,020

Jan-Pro provides commercial cleaning services to businesses. The company offers franchisees various ownership options, ranging from managing multiple business units to doing the cleaning yourself with a home-based business. With a home-based franchise, set-up costs are relatively cheap, normally coming in at under $5,000. 

Initial franchise fee: $3,500 – $3,500
Estimated initial investment: $12,385 – $277,313

The catering sector hasn’t had it easy during the pandemic, but fast food outlets – with take-out, delivery and drive-thru options, and less reliance on sit down eating – have found it far easier to adapt to COVID-19 than other restaurants. Fast food franchises can be profitable but expensive to start-up. So the good news is that a Chester’s branch can be set up for under $13,000, far cheaper than many fast food competitors.

Initial franchise fee: $5,000 
Estimated initial investment: $272,500 – $1,574,230

A hardware firm that boasts a firmly established brand (founded in 1924 with locations in every state), Ace Hardware offers a range of franchise options. Best of all, Ace Hardware doesn’t charge monthly royalty fees, unlike almost every other franchise opportunity out there. 

Initial franchise fee: $5,000 – $17,500
Estimated initial investment: $18,685 – $84,205

There will always be a need for windscreen repair and maintenance, and after two weeks of training you could be starting your own windshield repair business for less than $19,000, taking advantage of SuperGlass’s marketing and business support. 

Initial franchise fee: $11,500 – $14,500
Estimated initial investment: $20,000 – $22,000

Rhea Lana’s sets up events for selling children's clothes. The business says it focuses on just six key events per year, so it could be a flexible way to earn some extra money without making demands on your time and attention all year round.   

Initial franchise fee: $12,500 – $25,000
Estimated initial investment: $123,952 – $558,830

With 31 flavors, there’s a Baskin-Robbins ice cream for every day of the month. As one of the world’s largest chains of ice cream shops, your franchise is buying big name brand recognition as well as product variety.

Initial Franchise Fee: $15,000
Estimated initial investment: $22,500 – $29,400

Love soccer, kids and teaching? Then HappyFeet is the franchise for you, as you’ll be spending your time teaching three to five-year-olds soccer skills with the help of stories, nursery rhymes and songs at preschool sites. 

Initial Franchise Fee: $15,000 – $40,000
Estimated initial investment: $18,100 – $46,750

Thousands of children attend Kinderdance’s "education through dance" classes each year, encompassing ballet, tap, acrobatics, modern dance, fitness and sports. As classes take place at community centers and schools, this is a franchise where you don’t have to worry about construction costs or real estate maintenance.   

Initial Franchise Fee: $15,000 – $50,000
Estimated initial investment: $22,750 – $175,100

Property management is a big market, and by investing in a Property Management Inc franchise you can tap into the residential, commercial, association and vacation rental sectors. Working with property owners and real estate agents, you’ll find tenants, inspect properties, and manage payments. Expect to invest around $23,000 to get started.

Initial franchise fee: $15,000 – $56,000
Estimated initial investment: $20,200 – $99,975

Padgett Business Services provides tax services, payroll solutions and financial guidance for firms – so if you’re an accountant looking to set up your own business but want the backing and expertise of an established brand, then this franchise could be worth looking into.

Initial franchise fee: $16,000 – $37,000
Estimated initial Investment: $149,185 – $504,300

Another global household name, as a Ben & Jerry’s franchisee you’ll get access to special ‘shop-only’ flavors you can’t get anywhere else, and a range of franchise options and costs (from kiosks to full-size shops). Expect to invest at least $149,185 to get started.

Initial franchise fee: $18,500 
Estimated initial investment: $237,419 – $766,971

Founded in 1956, the number of Jersey Mike’s Subs franchises has more than doubled over the last 10 years. Like any restaurant franchise, investment costs vary depending on your business ambitions, but you can set up your own sub shop with the Jersey Mike brand for just under $240,000. 

Initial franchise fee: $20,000 – $30,000
Estimated initial investment: $77,695 – $644,264

The first Pearle Vision store opened in 1961, and by investing in their franchise scheme you can benefit from an established brand, back-end system support, and the bulk purchasing power of a chain (which enables you to take advantage of significant price discounts from eyewear brands). You don’t need a medical background to become a franchisee, but you will need to invest at least $77,695. 

Initial Franchise Fee: $20,000 – $35,000
Estimated initial investment: $146,900 – $282,400

Established in 1982, Great Clips is a huge hairdressing presence, with more than 4,000 salons throughout the US and Canada. Salons are open evenings and weekends, and customers don’t require appointments. You don’t need hairdressing experience to run a Great Clips franchise – great people management skills are more important.  

Initial franchise fee: $20,000 – $65,000
Estimated initial investment: £93,400 – $245,800 

If you have a passion for teaching and self-improvement, a Dale Carnegie Training franchise might well appeal. Dale Carnegie – author of How to Win Friends and Influence People – started his adult education program in 1912. Today Dale Carnegie Training is a global business brand recognized for its teaching of leadership, sales and people skills.

Initial franchise fee: $21,000 – $42,500
Estimated initial investment: $98,430 – $523,824

Anytime Fitness clubs are open 24 hours a day as the firm’s sophisticated security systems give customers access to centers during unstaffed hours. Founded in 2001, the number of franchises has more than doubled in the last 10 years, with over 2,400 clubs in the US alone.  It’s possible to get started for less than $100,000, too – considerably cheaper than many other gym franchise investments.

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Initial franchise Fee: $25,000 – $45,000
Estimated initial investment: $525,525 – $2,956,765

America’s largest and best-known Tex-Mex restaurant chain, a Taco Bell franchise undoubtedly buys you brand recognition and a product range with a loyal customer base. Taco Bell has more than 7,000 restaurants, with plans to grow to 9,000 outlets by 2022 (over 90% of their restaurants are run by independent franchisees). You’ll need at least $525,525 to start your Taco Bell franchise.  

Initial franchise fee: $9,950 – $29,950 
Estimated initial investment: $137,849 – $566,585

A global brand for packing, shipping, printing and small business services, your franchise business will benefit from national advertising, in-depth training and support, plus a variety of financing options. Starting a franchise in a rural location or a store-in-store will mean lower investment fees.

Initial franchise fee: $30,000 
Estimated initial investment: $119,000 – $352,500

Miracle-Ear is America’s largest retailer of hearing aids, and their bulk purchasing power means your franchise business benefits from competitively priced products. You’re encouraged to become a licensed hearing-care professional in your state before joining Miracle-Ear’s franchise network. 

Initial franchise fee: $34,500
Estimated initial investment: $44,030 – $59,695 

Proforma is a leading player in the $200 billion print and promotional product industry, targeting medium and large businesses. As a Proforma franchisee, you’ll help clients select the best printed and promotional materials that will help achieve their business goals. Any business that requires promotional materials is a possible customer, and a Proforma franchise can be started for under $50,000.

Initial franchise fee: $40,000 – $90,000
Estimated initial investment:  $199,700 – $1,688,200

Dunkin’ has been selling its winning formula to franchisees for 65 years now, with nearly 10,000 franchised outlets in the US alone serving its famed doughnuts, baked goods, and hot and iced coffee. For such a big fast food brand, franchise costs are relatively low – it’s possible to start a Dunkin’ franchise for under $200,000.  

Initial franchise fee: $45,000 
Estimated initial investment: $1,263,000 – $2,235,000
  
One of the most famous brands in the world, the iconic Golden Arches of McDonald’s are everywhere (there are more than 13,000 McDonald’s franchises in the US, and far more worldwide). McDonald’s have been franchising stores for 65 years, and offer franchisees comprehensive training and support (restaurant experience isn’t demanded, but you will need significant business experience). You’ll also need lots of money – over $1,200,000 – to buy your own store.       

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Initial franchise fee: $49,500 
Estimated initial investment: $668,298 – $1,444,264

If you love dogs, here’s a franchise to make you paws for thought. Dogtopia is America’s fastest growing pet franchise, providing dog daycare for everyone’s furry friends. And with their top performing stores averaging over $1,000,000 in revenue, there’s money to be made in the $95 billion pet industry. 

Initial franchise fee: $50,000 
Estimated initial Investment: $160,075 – $213,950

Servpro is a restoration company, offering cleanup and repairs to commercial and residential customers whose property has been damaged by fire, water, storms or mold. The firm also cleans carpets and upholstery. Servpro have been franchising since 1969, making it a well-established business model for franchisees.     

Initial franchise fee:  $50,000 – $750,000
Estimated initial investment: $81,000 – $1,165,400

The world’s largest convenience store chain, 7-Eleven has been franchising its model for 56 years. The company provides a comprehensive training program, and assists franchisees by bearing the cost of the land, rent, and store equipment – plus provides regular support from a business consultant to help you maximize profits.     

Initial franchise fee: $75,000 
Estimated initial investment: $7,662,800 – $20,306,500

Founded in 1983, Hampton Hotels was acquired by Hilton Worldwide in 1999 and now has hotels in over 2,000 locations across America. A recognised and trusted brand, Hampton franchisees benefit from extensive operational support and marketing resources. However you’ll require a substantial amount of capital to join the franchise — expect to invest around $8,000,000 or more. 

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