Low-budget businesses ideas could do well if started as franchises of bigger players that already exist in the market. Read on to explore the opportunities.
A low-risk expansion model, franchising is one of the most sough-after business models that entrepreneurs are interested to take on to mark their entrepreneurial success. Choosing a franchise business model helps the entrepreneur in expanding his/her enterprise through the most cost-effective way.
Other than being a low-cost model, franchise system is also an effective tool for entrepreneurs who possess less investment yet aspire to build a business of their own.
And the best part about franchising is that it generally doesn’t put the businessmen into a risk-zone while in an independent business, the risks are higher. Therefore, low-budget businesses ideas could do well if started as franchises of bigger players that already exist in the market. Here is a list of five mind-blowing franchises that could be started in less than Rs 25 lakhs.
The concept of service trucks has taken the world by storm. Popularly known as ‘business on wheels’, service trucks are gaining a lot of popularity in the business world due to its cost-effectiveness. There are so many franchises that are showcasing their business skills on the vans and trucks to gain maximum footfall. Be it the concept of food trucks, dog groomers or hairstyling, entrepreneurs are opting for such a trendy and low-cost but effective business model. It’s the mobility of the concept that is making it a low cost venture and keeps the overheads of the company very low.
Talking about the investment for this concept, a food truck can be started in around Rs 5-10 lakhs, while a dog grooming truck and hairstyling truck will cost you around Rs 5-7 lakhs.
The quirky juice stalls that are nearly present in every nook and corner in India, were largely dominated by unorganised market until we got introduced with the concept of high-street, classy juice lounges. There are a lot of juice lounge franchises that are making the market more organised, and hence profitable. Juice lounge franchises are an easy investment of about Rs 10-15 lakhs for an area of 250-800 sq ft, which can also be operated on a kiosk model and can cost you around Rs 9-12 lakhs for an area of 80-250 sq ft.
Nail Art Salon
With a variety of styles coming in the market, nail art is gaining a lot of popularity among the millennial, thereby giving the market a spectacular growth. The nail art segment is one of the fastest growing markets in the beauty sector and is poised to grow multifold in the coming years. With a minimal amount of investment requirement, the nail art segment is growing and entrepreneurs are taking up the franchising option for better growth and expansion. A nail art salon could be started in an investment of about Rs 5-6 lakhs for an area of 500-600 sq ft.
Pest control is yet another business idea that is burgeoning and is proved to be low-cost. The infestations of bugs and pests are extremely unhygienic and intolerant in domestic setups as well as in commercial setups. As consumer awareness and the need for hygienic environment is increasing, the demand for such services is rising. Pest control franchises provide better option for business aspirants to get introduced in the world of entrepreneurship in less investment. For a pest control franchise, one has to invest a minimal amount of Rs 2-5 lakhs for an area of 200 sq ft.
A shoe mending business usually specializes in restoring high-quality footwear by replacing the elements of the footwear that are damaged (heels and soles), worn and has been discoloured due to exposure to various elements (sunlight, dirt, excessive usage etc). A shoe mending franchise is a low-cost business idea that can help you in achieving monetary gains for sure. The investment required in a shoe mending franchise is just Rs 5-7 lakhs for an area of 300-400 sq ft.