People interested in transiting from formal employment to business can do so in some ways. For instance, an individual may enter the entrepreneurial world by purchasing an already successful business. As a result, he may not have to struggle with issues such as raising his business from the ground or struggling to find customers. However, to some individuals, purchasing an already established business may not sound right, and the thought of starting from scratch may feel somewhat intimidating. In such cases, a franchise may be the best option.
What is a Franchise?
A franchise is a type of business where an already established entrepreneur (franchisor) allows an individual (franchisee) interested in starting a business that falls along the same line as his business to start a venture under his (franchisor) business’ name. In exchange for a fee. The franchisor mentors the franchisee and guides him on the do’s and dont’s of the corporate world. Thus, the franchisee starts a venture with adequate knowledge of the workings of the business environment.
Franchises Under 5k
Depending on the business type and the profit margin involved, a franchisor sets his fee accordingly. The following are some of the most lucrative franchises under 5k.
1040TXBIZ has been in the tax business for 19 years and has been able to develop low-cost tax offices. 1040 has an A rating with the BBB. Franchisees who join 1040TAXBIZ get many perks: a good business location, bank products, software, direct access to approximately 15,000 to 30,000 tax clients on a monthly basis, and marketing.
In addition to the above, 1040 offers its franchisees very affordable fees. The company’s franchise fee is $2,899, and its entry-level program costs $249. The year around standalone package costs only $1,899. This franchise is designed for individuals with a small initial amount of capital to start a business.
Just as the name suggests, 5LINX links its franchisees to the products and services that people use on a day to day basis. 5LINX utilises a number of ways to ensure that its franchisees profit from their ventures. It offers them a unique business opportunity presentation, flyers for The GLOBALINX system, and a new tool for one’s virtual office to complement his customer searching efforts.
5LINX has experienced success in the development of professional business cards, embossed folders and padfolios, laptop carrying cases, and a myriad of other business image products. The company not only furnishes its clientele with a unique range of goods and services but also offers startup execs the opportunity to start successful business ventures.
A majority of the people employed in the formal sector have a desire to start their companies and nurture them to success. The vicissitudes inherent in the business world, however, hold them back. Due to the fear of business turning sour or the enormous amount of capital required to start one, most individuals prefer to remain at their day jobs as opposed to venturing into the entrepreneurial world. Franchising, as discussed above, offers a solution to the before-mentioned predicaments: startup entrepreneurs are guided through the process of business development. The above franchise opportunities under 5k are ideal investment options to individuals interested in joining the entrepreneurial world with a small initial fee.