10 Low-Cost Franchises You Can Start From Home Right Now
If you’re stuck at home right now, you may feel like your options are limited. But this might just be the perfect time to think about starting a business right where you are. The franchise world offers a myriad of opportunities that can be run from the comfort of home. And as an added bonus, without an expensive storefront to pay for, the startup costs for these businesses tend to be low. Check out the franchises in this slideshow for just a sampling of the homebased franchise opportunities that can be started for less than $100,000:
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- Franchise 500 rank: 254
- Initial investment: $42,300 to $178,916
- Total units: 191
Brightway Insurance franchisees, who sell home, personal lines, and car insurance, are normally required to operate out of a retail storefront and have three employees. But the company recently announced that new franchisees can launch their business from home and without any employees, until stay-at-home orders are lifted.
- Franchise 500 rank: 345
- Initial investment: $48,300 to $62,950
- Total units: 104
Challenge Island is a children’s enrichment franchise that teaches kids STEAM concepts by having them work in “tribes” to solve various challenges. While classes are normally offered at schools or other venues, in the age of social distancing the company has created a “Home Island” concept that can be operated remotely via the Zoom app.
- Franchise 500 rank: 46
- Initial investment: $2,295 to $23,617
- Total units: 3,062
All you need to run a Cruise Planners franchise is an internet connection. While a travel agency might seem like a strange choice of business to start right now, the company reports that travel bookings for 2021 are already up 15 percent, as people stuck at home anticipate being able to explore the world once more.
- Franchise 500 rank: 282
- Initial investment: $28,300 to $120,110
- Total units: 134
Destination Athlete franchisees operate a homebased business providing sports and field equipment, uniforms, spirit wear, varsity jackets, fundraising solutions, and more for youth and high school athletes. The franchise can be started for as little as $28,300, and the majority of franchisees run the business part time, allowing them to work other jobs or spend time with their families as well.
- Franchise 500 rank: 386
- Initial investment: $35,950 to $45,950
- Total units: 135
Discovery Map is an advertising franchise that can be started for less than $50,000, and a brand that has been around for decades. Franchisees produce colorful hand-drawn maps of their local areas, highlighting attractions, restaurants, hotels, shops, and more, and distribute them at travel and rest areas and other businesses that tourists are likely to frequent.
- Franchise 500 rank: 73
- Initial investment: $1,795 to $20,300
- Total units: 1,432
Another homebased travel agency franchise, Dream Vacations is also anticipating a high demand for its services once travel restrictions are lifted. The company has modified its new franchisee training to make it completely virtual and increased the franchise fee discounts it offers for minorities, veterans, and community heroes looking to become franchisees.
Leadership Management International
- Franchise 500 rank: 189
- Initial investment: $20,000 to $27,500
- Total units: 458
Founded way back in 1966, Leadership Management International offers leadership coaching, training, and facilitation services to clients ranging from small businesses to large multi-national corporations. The franchise can be started for less than $30,000, and franchisees can offer services in-person or online through video conference platforms.
- Franchise 500 Rank: 272
- Initial investment: $30,150 to $117,100
- Total units: 69
Lendio franchisees assist entrepreneurs with applying for and obtaining loans — a service that’s in high demand right now — and have the option of working from a home office or from a storefront location. With a home office, startup costs can be as low as $30,150. The company was founded in 2011 and just began franchising in 2016.
- Franchise 500 rank: 328
- Initial investment: $96,401 to $265,096
- Total units: 67
RSVP Advertising is a direct mail company that advertises upscale local businesses like restaurants, home remodelers, landscapers, and spas with a quarterly packet of postcards mailed out to the wealthiest 20 percent of homeowners in an area. No employees are needed, and it can be run from home for less than $100,000.
- Franchise 500 rank: 164
- Initial investment: $73,295 to $100,995
- Total units: 662
Ranked #42 in Entrepreneur’s Fastest-Growing Franchises list this year, Tutor Doctor offers a homebased opportunity that can be started for less than $100,000. Franchisees offer in-home one-on-one tutoring services, and the company already offered online tutoring options before COVID-19 hit. Now those services are in even higher demand.