How Owning These 5 Finance Franchises Can Help People Invest in Their Future
You have a mind for numbers, assets and an entrepreneurial drive. The only thing you don't have is an idea on how you want to invest your time, money and energy. Should you start your own business? Make a new product or offer a new service?
Or does becoming a franchisee make more sense for you?
There are tons of different ways to invest in the franchise world, and we've been outlining some of them with our Franchise 500 list. We've broken down the fast food industry, tech options and more. But, in each of those options, you're investing in a brand and a product.
When you invest in a finance franchise, you're actually investing in real people. By investing in one of the franchises listed, you can help others get capital for their small business, pay hospital bills, buy a car or save on taxes. You're not just selling a product (though you are doing that, too), you actually have the chance to change people's lives.
Start the slideshow to learn about our five favorite finance franchises.
Ikor International LLC
Entrepreneur Franchise 500 Rank: 110
Initial investment: $86,450 to $138,083
Initial franchise fee: $25,000
New units in 2016: 19 units (+135.7 percent)
Ikor provides a bevy of services, from healthcare advocacy to assistance with day-to-day finances and even the power of attorney. That's why Ikor seeks versatile entrepreneurs who are comfortable with multiple roles, especially medical and business environments. To qualify for a franchise, you also need at least $150,000 and one year of personal living expenses in liquid funds.
If you're interested in investing and you match that description, then there are plenty of opportunities to start an Ikor franchise. Territories are available in all 50 states.
Related: Our Top 10 Franchises You Can Buy
Liquid Capital Corp.
Entrepreneur Franchise 500 Rank: 142
Initial investment: $214,300 to $254,000
Initial franchise fee: $55,000
New units in 2016: 9 units (+10.5 percent)
Liquid Capital practices factoring, which helps other small businesses secure the capital necessary to pay invoices immediately. So, if you like the idea of investing in a business that invests in other businesses (and have at least $200,000 to get started), Liquid Capital might be a good fit.
Liquid Capital doesn't list their available territories online, but with just 55 U.S. franchises as of our 2016 count, it's likely that there are plenty of opportunities left.
Fiesta Auto Insurance and Tax
Entrepreneur Franchise 500 Rank: 163
Initial investment: $49,662 to $107,458
Initial franchise fee: $10,000
New units in 2016: 15 units (+10.7 percent)
Fiesta, which handles auto insurance and tax services, has focused most of its 155 U.S. franchises in areas with heavy Latin American populations, like Texas and California. That's why, in addition to getting an insurance license, it's a good idea to brush up on your Spanish before applying to become a Fiesta franchisee. It isn't necessary to be fluent to own a Fiesta location, but according to its frequently asked questions section, the company prefers investors who speak both Spanish and English.
Entrepreneur Franchise 500 Rank: 289
Initial investment: $675,480 to $3,477,500
Initial franchise fee: $50,000
New units in 2016: -2 units (-1.2 percent)
J.D. Byrider sells used cars and helps buyers get financing to buy those cars. Due to the merchandise and lending nature of the business, franchisees need more startup capital than might be necessary at some of the other finance franchises on this list. However, if you have six or seven figures to invest and love cars, then check out the company's list of available territories to see if there might be a fit.
Entrepreneur Franchise 500 Rank: 318
Initial investment: $31,505 to $149,200
Initial franchise fee: $2,500
New units in 2016: 22 units (+0.2 percent)
You've probably seen one of H&R Block's tax service commercials on TV by now, but you might not have thought about investing in an H&R franchise. The company is only seeking entrepreneurs who already have a tax business. So if you don't have experience in the industry, this doesn't make sense for you. But, if you do have a tax business and are looking to expand, then H&R Block might be able to help you do that.