In this article, we will take a look at the 16 best franchises to open with $10k in 2023. If you want to skip our detailed analysis, you can go directly to 5 Best Franchises to Open With $10K in 2023.
Notable Low Cost Franchises
Some notable franchises requiring little investment include Cruise Planners and N2 Publishing. Cruise Planners is a home-based travel agent franchise network in Florida, United States. On December 4, Cruise Planners announced the launch of new tools during the CP World 2023: Limitless convention. The company celebrated $1 billion in sales in 2023 and revealed new tools, including Maxx Intelligence, Max Creator, CP Maxx Video Library, Where2next Virtual Series, LivePlanner Collections, Travel Tek, and Email Capture. All these features are aimed at enhancing the customer experience and improving content for agents using artificial intelligence and generative AI tools. The company also announced in-person events scheduled for 2024, which include boot camps, academies, tech days, and training, to name a few. You can also check out some of the top 20 franchises for beginners.
N2 Publishing, also called the N2 Company, is a prominent publishing company based in North Carolina, United States. The company provides marketing opportunities to businesses across the United States while developing a strong community and neighborhood. On November 9, the company announced some awards it received in 2023. The franchise was recognized as one of the most innovative franchises by Franchise Business Review and was awarded a place on the list of best franchises for veterans by Top Franchise. N2’s flagship franchise, Stroll Magazine, was listed in the top 400 rankings by Franchise Times.
Some of the Top Franchisors in the World
Papa John’s International, Inc. (NASDAQ:PZZA), Planet Fitness, Inc. (NYSE:PLNT), and Marriott International, Inc. (NASDAQ:MAR) are some of the most prominent franchises. Let’s check out some of the recent updates from these companies. You can also take a look at some of the most profitable franchises to buy in 2023.
Papa John’s International, Inc. (NASDAQ:PZZA) is a pizza restaurant chain based in America. Not only is the company a popular choice among consumers, but it is also committed to serving back to the community. On November 1, Papa John’s International, Inc. (NASDAQ:PZZA) announced an award of $1.4 million to 270 organizations focused on youth entrepreneurship and leadership via the Foundation’s Building Community Fund. Franchise owners applied for these grants to uplift local organizations in their community. The program spreads across 39 states. To shed light on the initiative, Madeline Chadwick, Chief Corporate Affairs Officer of Papa Johns, stated:
“Each day, our franchisees are working in their communities to empower the next generation of leaders, fight hunger and reduce food waste. Through the Building Community Fund, the Papa Johns Foundation is able to support their efforts and contribute to our shared goal of improving the communities we serve.”
Planet Fitness, Inc. (NYSE:PLNT) is a fitness center operator and franchisor based in New Hampshire, United States. On November 27, Planet Fitness, Inc. (NYSE:PLNT) launched “PerksFest”, allowing all Planet Fitness members to benefit from special deals from notable brands such as Fitbit, Crocs, Hotels.com, Expedia, and Blue Apron. These deals are available for the holiday season through December 11, 2023.
Planet Fitness, Inc.’s (NYSE:PLNT) commitment to empowering its customers explains its financial results. On November 7, Planet Fitness, Inc. (NYSE:PLNT) reported earnings for the fiscal third quarter of 2023. The company reported earnings per share of $0.59, beating estimates by $0.04. The company also reported revenue worth $277.55 million during the quarter, ahead of market consensus by $9.37 million, with a year-over-year revenue growth rate of 13.57%.
Marriott International, Inc. (NASDAQ:MAR) is a global franchisor of hotels and lodging facilities. A year ago, Marriott International, Inc. (NASDAQ:MAR) expanded its presence in the premium and luxury segment, and on December 5, the company announced that it had started taking reservations for its first apartments by Marriott Bonvoy. The apartments by Marriot Bonvoy in San Juan and Puerto Rico are expected to launch soon.
Marriott International, Inc.’s (NASDAQ:MAR) also recently released strong earnings. On November 2, Marriott International, Inc. (NASDAQ:MAR) announced earnings for the fiscal third quarter of 2023. The company reported earnings per share of $2.11, beating estimates by $0.01. The company also reported revenue worth $5.93 billion during the quarter, ahead of market consensus by $59.50 million, with a year-over-year revenue growth rate of 11.58%.
As a beginner, starting with a franchise that requires a small amount of initial investment is the best way to go. We have compiled a list of the 16 best franchises to open with $10K in 2023. You can also check out the most popular fast food franchises you can own for under $100000.
16 Best Franchises to Open With $10K in 2023
Our Methodology
We employed a consensus approach to come up with the 16 best franchises to open with $10K in 2023. We first sifted through Franchise Direct, Top Franchise, and Franchise Business Review to get names of the best franchises to open with $10K. We also reviewed 3 reports online, including SmallBizTrends, Connecteam, and 99 Business Ideas, to ensure we gathered all the potential franchises. This thorough process enabled us to create an initial pool of 20 franchises to open with $10k. We then identified the top 16 names based on the item count across all 6 sources. The list of the 16 best franchises to open with $10K in 2023 is in ascending order of the item count, with the minimum liquid capital required used as a tiebreaker for two items with the same number of mentions. The minimum liquid capital required was sourced from Franchise Direct, or franchise business review in case a franchise was not listed on Franchise Direct. It is to be noted that some franchises do not explicitly reveal the investment required along with the minimum cash required. In such cases, we tabulated the estimated cash required by screening through costing data available on the franchise’s website. Such instances can be identified with the subhead “estimated liquid capital required.”
16 Best Franchises to Open With $10K in 2023
16. Advisory Capital Broker Training Program
Number of Mentions: 3
Liquid Capital Required: $10,000
According to our methodology, the Advisory Capital Broker Training Program is one of the best franchises to open with $10,000. The franchise opportunity is based on helping people become capital brokers with less than $10,000.
15. Coffee News
Number of Mentions: 3
Estimated Liquid Capital Required: $9,500
Coffee News ranks as one of the best franchises to open with $10K in 2023. Coffee News has over 700 franchises in 8 countries. As a franchise owner, you will be responsible for selling advertising, promoting community events, and distributing publications weekly. To start a franchise you may be surrounded by a population of 50,000. The estimated minimum liquid capital required to start a franchise is almost $9,500. Adding all expenses, the initial investment may range between $11,150 and $12,250.
14. Card My Yard
Number of Mentions: 3
Liquid Capital Required: $8,000
According to our methodology, Card My Yard is one of the best franchises to open with $10K in 2023. Card My Yard is a yard greeting service provider in Austin, Texas. The estimated startup investment costs range from $8,000 to $19,800 and the franchise has over 500 locations.
13. Eazi Sites
Number of Mentions: 3
Liquid Capital Required: $7,995
Eazi Sites allows people to build websites for businesses from the comfort of their homes. The company trains its franchisees, therefore, no experience in coding is required. The minimum cash required to start the franchise is almost $7,995.
12. Clear Path Financial Training
Number of Mentions: 3
Liquid Capital Required: $6,995
According to our methodology, Clear Path Financial Training ranks as one of the best franchises to open with $10K in 2023. Clear Path Financial Training is a full-service financial company offering a range of training, support, and funding solutions to help businesses in Finance. The franchise opportunity is targeted at students and allows them to work from home and earn a decent amount of money while helping others. The franchise fully trains franchise owners.
11. Affiliated Financial Partners
Number of Mentions: 3
Liquid Capital Required: $5,995
According to our methodology, Affiliated Financial Partners ranks as one of the best franchises to open with $10K in 2023. The franchise is focused on providing training to individuals and transforming them into expert entrepreneurs. The minimum cash required to start the franchise is $5,995.
10. My Business Venture
Number of Mentions: 3
Liquid Capital Required: $3,995
My Business Venture is one of the best franchises to open with $10k in 2023. My Business Venture is an e-commerce-enabled custom website package, that allows people to run their online superstore. The minimum cash required to start a franchise is $3,995.
9. Dream Vacations
Number of Mentions: 3
Liquid Capital Required: $3,500
Dream Vacations, founded in 1992, has almost 1,700 units. Dream Vacations provides an opportunity for business owners to start a home-based travel agency. The total startup investment costs range from $1,795 to $21,000. The franchise does not require any inventory, has no overhead costs, and franchise owners are allowed to receive 100% of the commissions.
8. Jazzercise
Number of Mentions: 3
Estimated Liquid Capital Required: $3,000
Jazzercise is one of the best franchises to open with $10K in 2023. Jazzercise has almost 8,300 locations across 32 countries. Jazzercise combines dance and exercise and also offers training routines in martial arts. The one-time initial fee to start a franchise is $1,250, with a separate annual fee for liability insurance, music royalty, and music downloads.
7. Buildingstars
Number of Mentions: 4
Estimated Liquid Capital Required: $1,295
Buildingstars, a commercial cleaning services provider ranks as one of the best franchises to open with $10K in 2023. Buildingstars offers three franchising options including becoming a technician, an onsite manager, or a corporate executive. As per our research, the minimum cash required to start a franchise is almost $1,295.
6. SiteSwan Website Builder
Number of Mentions: 3
Liquid Capital Required: $149
According to our methodology, SiteSwan Website Builder ranks as one of the best franchises to open with $10K in 2023. The franchise allows business owners to set up a web design business from the comfort of their homes for only $149. The franchise only charges a small fee from businesses wanting to get a website built, typically between $499 to $1,500. The franchise also provides training to its franchisees.
Click to continue reading and see 5 Best Franchises to Open With $10K in 2023.
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Disclosure: None. 16 Best Franchises to Open With $10K in 2023 is originally published on Insider Monkey.