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How to access business loan without collateral

How to access business loan without collateral, When planning to start or grow a business, many owners are keen to find out how to obtain small business loans without collateral to fund their ideas. Unfortunately, when it comes to loans, there are two major types: unsecured and secured.

The primary difference between secured and unsecured loans is that a secured loan requires an asset to act as security. In other words, it’s a collateral business loan that requires you to put something up in exchange for financing (e.g., commercial real estate or a company car).

An unsecured loan is a no-collateral loan that has no such requirement. While some business loans are available that require no collateral, they are not as easy to find nor as readily available as a standard secured loan.

Also Read: How To Generate Passive Income Through The Cryptocurrency Market

Most small business loans, especially those guaranteed by the Small Business Administration, require the borrower to accumulate personal collateral. This gives the lender peace of mind in case the borrower is not able to return payment. But what if your small business doesn’t have any collateral yet to guarantee? You may be asking yourself, “can I get a loan without collateral” and wondering if an uncollateralized loan is out of your league. But wonder no more – there are, in fact, lenders out there who will provide you with funding even without collateral!

How to access business loan without collateral

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What is a Collateral-Free Business Loan?

Collateral means security or an asset that a lender requires from the borrower to guarantee the desired loan. Such security or investment is repossessed from the borrower after paying off the loan entirely. However, on defaulting the repayment, the lender seizes this asset, and they have the right to sell it to cover his losses.

Small businesses or startups don’t have many assets and can’t afford the risk to put up the same for a loan.

Collateral-free business loans are business loans that are free from any collateral funding requirements. As a result, businesses can get desired funds promptly and focus on their growth. These may be term loans ranging from 1-10 years or short-term business loans for regular business activities like staff remuneration or inventory handling.

Business Loan Eligibility Criteria without Collateral

To ensure quicker loan approval, here are the criteria you must meet to ensure that your application is reviewed as quickly as possible.

Register your business: Do not wait until you need a loan before you register your business. Has your business account been domiciled in your bank? When you already have an established business account running for the last period of 1 year. It will be easy to get a credit facility.

Also Read:  Business Credit Insurance What Is It About?

Be specific on what you need the money for: You have to convince the lender that you will use the money for your business and not divert it to other things. For example, the funds may be needed to acquire new machines or pay for goods, among other things.

The amount you intend to borrow:  Be specific on how much you want to borrow from the lender and repay plan. Collateral loan for small and medium businesses is usually between exceed $3,000

Guarantor: Because the lender is not requesting you to produce collateral, in most cases, it will demand a guarantor in case your business plan fails, and you are unable to repay the loan. Your guarantor is usually required to be working in a corporate organization, and he will show evidence of his financial worth in the form you will be given to fill.

How to access business loan without collateralHow to access business loan without collateral

Bank statement: You may be required to present recent bank statements to show your business is still operating and the period of its operation.

Types of Loans to consider without collateral

If you’re looking to get a non-collateral business loan for your startup or established small business, there are a few options to consider. These include:

  1. SBA loans

An SBA loan is backed by a federal agency, the Small Business Administration. This type of loan may or may not require collateral, and even new startups may get a loan with no need for collateral via an approved SBA lender. There are, however, other SBA loans that will require collateral, so it’s essential to check before signing.

  1. Online long-term loans

Many online lenders offer short-term and long-term loans to companies. While both are “term loans,” there are some key differences to keep in mind.

For starters, a long-term loan is more traditional. The lender will advance a specific sum that will be repaid monthly over a set period. Though generally not as affordable as SBA loans, they are relatively inexpensive, and applying is often faster and easier.

On the other hand, a short-term loan also involves advancing a lump sum to the borrower, but this is then repaid in weekly or daily payments for a short period of around three to 18 months. This type of loan is usually more expensive, although it has relaxed eligibility requirements. However, it is also straightforward to apply for when compared with traditional bank loans.

  1. Merchant cash advances (MCAs)

Although merchant cash advances appear to require collateral, they do not. The financing company will only be buying your future assets—nothing you own right now.

When a business receives a merchant cash advance, the financing company advances a specified sum that is then paid back using a particular percentage of sales. In essence, it is purchasing a portion of the company’s future sales.

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The eligibility requirements for this type of lending are comparatively loose, but there could be a risk to cash flow. Therefore, it is essential to proceed with caution when choosing this option since many MCAs involve complex contracts and various fees.

  1. Business credit cards

Business credit cards are sure to be something you are already familiar with. However, they are a surprisingly good way of financing a business—especially when supplementing a traditional loan.

A zero percent introductory APR card is typically the best option since this is essentially an interest-free loan that lasts for the specified initial period. This will vary by card and could be as long as 15 months.

If you choose this option, having a clear repayment plan is essential since you will need to pay off the balance before the introductory period ends and the regular APR kicks in.

  1. Private lenders and fintech firms

These days, there are a lot of private lenders out there who are willing to offer loans without collateral, as long as the business owner provides a personal guarantee. This could be in the form of a cosigner, an asset, or a commodity. Although, strictly speaking, this is not quite an unsecured loan, there are many more options for the items or purchases that you can use.

Innovations in technology have contributed to the emergence of new fintech firms, providing access to financing quickly and with relatively little paperwork.

With Fundbox, you can apply for financing online without any specific collateral and expect a credit decision in just minutes.

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How to make money without a job

Are you trying to figure out how to make money without a job? Or maybe you’re tired of your 9-to-5 job and yearn to do something else with your life.

You have precisely come to the right place!

Whether you’re a stay-at-home parent, unemployed, disabled, a teenager in high school or you want to make extra money, and today I’m sharing fundamental ways on how to make a living without a job.

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Ways to make money without a job

Some of these ideas are web-based, and you can work from anywhere. Others might require special skills or that you live in a specific location. You can use these ideas as a springboard to develop even more ideas for how to make money without a job.

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  1. Make money as a freelance writer.

Are you creative and enjoy writing? Do you wish you could turn those writing skills into a successful career?

Freelance writing is one of the best ways to make money online without a job. And the best part is, you don’t need to have a background in English or write to get started.

You can often find companies looking for writers on Twitter and job boards like indeed. And best of all, since you’re a freelancer, you get to set your hours and decide who you want to work with.

  1. Start a blog

If you enjoy writing, blogging can be a great way to make money online. The best part about starting a blog is that you’re in control. You get to be your boss, writing whatever you want about whichever topics you enjoy. This is one of the best ways to make money without working for someone.

For instance, if you prefer a variety of topics, then you could start a lifestyle blog. And it’s straightforward and cheap to set up using a blogging service like WordPress.

You can make a lot of money with blogging, especially if you have a lot of followers and use affiliate marketing. Affiliate marketing is when you link to products, and that company gives you money for every person who buys those products after clicking on the link on your blog.

How to make money without a job

However, blogging can be a lot of work in the beginning. You’ll need to know about things like SEO, marketing, and promoting your articles on social media. But it’s a great way to earn money and can be fun too.

  1. Earn cashback

Who doesn’t love free money? When you use cashback apps or cards, you get paid to do your regular shopping. Several banks and credit cards offer this service, so check to see if yours has this offer.

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You can make a quick $10 when you join cashback websites, such as Rakuten (formerly Ebates). Others, like Acorns, let you earn cashback when you shop and put that money towards your investing account.

Be careful not to spend money on things you don’t need or can’t afford. While cashback is a great way to earn extra cash, it’s designed to get you to spend more money. And being in credit card debt to make a few extra bucks is not a strategy I would recommend.

  1. Invest in real estate

Real estate is one of the more traditional ways to earn money. If you go the conventional route of buying a property and renting it out, you will need a lot of upfront capital. But you can generally get your mortgage covered and then have a little bit of extra money leftover.

But not everyone wants to be a landlord. So instead, you can invest in real estate through crowdfunding services like Fundraise and Roofstock. You can even support it for as little as $500. The platforms take care of operating the properties while you earn money through quarterly dividends. And you’ll also gain money as the properties you’ve invested in appreciate.

  1. Babysit

Babysitting isn’t just for high schoolers. If you love kids or even have a few of your own, you can set up a babysitting or nanny service. You can reach out to family members, friends, and even your neighbors. There are even online sites like Care.com where you can find babysitting jobs in your area.

Whether it’s full-time, part-time, or after school, this can be a great way to make it on the side.

  1. Invest in dividend stocks

One of the best ways to grow your wealth over time is to invest in stocks. While investing in the stock market often takes time, you can exhilarate that growth by investing in dividend stocks.

Dividend stocks are shares of a company that gives you income for holding on to their stock, often every quarter. You essentially are rewarded for holding onto the stock. You will need to do some research on investing in finding the best dividend stocks for you. Could you find out more about our investing courses?

  1. Become a transcriber

Do you type fast and are a good listener? Do you remember everything, even when it was said years ago? Then transcribing might be perfect for you because these are the skills that can help you succeed in this role.

A transcriber converts audio into text, and the average hourly rate for transcribers is $15 an hour. You can choose your hours and work from home or anywhere there is wifi. All you need is a reliable computer and fast internet service.

  1. Make YouTube or TikTok videos.

It’s easy to create and upload videos on YouTube and Tiktok. All you need is a bit of creativity and a smartphone. So if you’ve always wanted to have your show or a daily vlog, it’s easy to do so on YouTube.

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You can also get paid on YouTube through ads and affiliate programs. You’ll need to reach a certain amount of subscribers and views to start earning money. TikTok is another platform where you can make money through affiliates. Again, you’ll need to have a decent number of subscribers.

The key to both YouTube and TikTok is to create quality content consistently. You’ll also need to use the right keywords in your title and description, as well as interact with viewers to foster your community.

How to make money without a job

  1. Write ebooks

Have you always wanted to write a book? You no longer need to have a million Instagram followers or a publisher to have your book.

With Amazon, you can publish your book on Kindle without having to pay a dime! While ebooks are priced lower than traditional books, there are no overhead costs. And with the number of people buying ebooks through Amazon, you’ll likely earn some extra money, especially if you promote your book yourself on social media.

  1. Take part in market research.

If you’re looking for an easy way to make money without a job, signing up for online surveys can be a great option. I recommend joining several survey websites to help you earn the most money. In addition, they are free to join, so you have nothing to lose.

Taking surveys isn’t going to make you get rich without a job, but if you want to do a few paid surveys for fun – check out Survey Junkie.

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  1. Offer virtual assistant services.

If you’re not interested in writing or blogging, that’s okay. However, it’s not for everyone. For those who prefer to handle more administrative or bookkeeping tasks, consider becoming a virtual assistant.

Virtual assistants are in HIGH demand right now. Many entrepreneurs, companies, and online business owners are looking to hire virtual assistants to help them with answering emails, booking travel, data entry, social media management, and more.

Also Read: 8 Best CMS Software For You

As a virtual assistant, you have the power to set your rate. This typically falls between $30 and $50+ per hour, depending on your level of experience.

You can make money without a job.

So with a little bit of research and creativity, it’s easy to find ways to make money without a job. So say goodbye to having to work from 9-to-5 and say hello to a flexible work schedule doing something you love!

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How to Generate Passive Income through the Cryptocurrency Market

Creating several passive income streams is a healthy way to help you achieve your personal financial goals. Passive income is one of the strategies for building and maintaining wealth. An average millionaire has at least seven different income streams, with at least half of them passive. This means that many investors and individuals alike have found ways to multiply their income streams without managing them actively.

Passive income is an income stream that requires minimal interactions or any time-consuming activity to make a profit. Any investment you hold that generates income on its own is passive.

Also read: Why These Currency Couples Remain Popular

Here, we discuss some ways to help you earn passive income easily with cryptocurrency.

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Deposit Your Assets in an Interest-earning Account

While investing your funds in cryptocurrency does help you earn when prices appreciate, depositing them into interest-earning accounts will allow you to achieve a greater yield on your crypto assets. Presently, many platforms offer this service for investors, and most of them come equipped with other features to help you maximize the productivity of your crypto assets.

Additionally, such platforms are likely to offer compounded interest. This would mean that you will earn interest calculated based on a more significant sum than the initial deposit.

This is one of the prime methods to earn consistent returns even during market fluctuations. The best part? You don’t even need to manage it actively. Deposit your funds, and you’re good to go.

Mining

Mining is based on a consensus algorithm called Proof of Work (PoW). Cryptocurrency mining is how transactions between users are verified and added to the blockchain public ledger. The mining process is also responsible for introducing new coins into the existing circulating supply and is one of the critical elements that allow cryptocurrencies to work as a decentralized peer-to-peer network without a third-party central authority.

Mining is the most well-known way to generate a passive income with cryptocurrency. Bitcoin is the most popular and well-established example of a mineable cryptocurrency, but it is worth noting that not all cryptocurrencies are mineable.

Staking

Staking is the most straightforward way to earn passive income, as the market pays you for holding cryptocurrencies for a certain period. In addition, it offers an investor a potential ROI that is more predictable than others, and no investment in hardware is required.

Also Read: Franchise Opportunities How To Locate Them

Staking is based on a consensus algorithm called Proof of Stake (PoS). Staking requires buying specific cryptocurrencies that run on the PoS.

Passive Income

Those who hold coins can lend coins to the network, which will be used to validate transactions. The more cash you lend, the more the network rewards you. Staking is a simple way to earn passive income, as the market pays you for holding cryptocurrencies for a certain period. It offers an investor a potential return on investment that is more predictable than others, and no investment in hardware is required, as is the case with mining.

Airdrops

An airdrop is a marketing stunt that involves sending coins or tokens to wallet addresses to promote a new virtual currency awareness. Small amounts of the new virtual currency are sent to the wallets of active blockchain community members for free or in return for a small service, such as retweeting a post sent by the company issuing the currency.

To qualify for the airdrop, a recipient may need to hold a minimum quantity of the crypto coins in their wallet. Alternatively, they may need to perform a specific task, such as posting about the currency on a social media forum, connecting with a particular member of the blockchain project, or writing a blog post.

Dividend-Paying Tokens

Another way to earn passive income in the cryptocurrency market is to buy and hold dividend-paying tokens. It is important to note that not all digital currencies pay out dividends, and you should always do your research before buying into them. Although they are not familiar, the primary digital tokens that pay a premium are exchange-issued. Several digital asset exchanges have issued their tickets, which provide users with discounts on trading fees and, in some cases, entitle them to a share of the platform’s profits.

Also Read: Cryptocurrency: Top Cities And Countries Of Highest Usage Of Bitcoin

To earn dividends on these types of tokens, holders are usually required to hold them on the issuing exchange or stake them using an external wallet. The more tickets you have, the more passive income you can earn with them.

The plus side about dividends is that they are pretty consistent and steady, so you know you’ll still be earning some additional income without having to do anything actively.

Make Your Money Work

There is only so much new money a person can make in a day, as a general truth. That’s why it’s essential to put your money to work for you. You want to work smarter, not harder, to build a sustainable and growing wealth that can build on itself even while you sleep. And earning interest from your portfolio holdings is one reliable way to accomplish that goal.

So, no matter if you have investments in the traditional market, the digital market, or both, now you have more ways to earn passive income so you can grow your wealth day and night.

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Why These Currency Couples Remain Popular

The forex market is the largest and most liquid in the world, offering trading around the clock and hundreds of potential pairings. It is highly volatile, and with the tendency to swing rapidly, it’s a market that is irresistible to traders looking for healthy returns.

Although there are many potential combinations to trade, there are some currency pairs that are more popular than others. The ones which are traded most frequently of all are known as the majors.

Why These Currency Couples Remain Popular

Not everyone agrees which currency pairs qualify as majors, but below are some of the ones that most people agree on and the reasons for their popularity.

EUR/USD

This pair of currencies come from two large trading blocs, so perhaps it’s not surprising that it’s the most traded of them all within forex. In 2019 this pairing alone made up 24% of the total daily forex trades.

As it’s a popular dollar forex trading pair, there is a very high daily volume, resulting in tight spreads and high levels of liquidity. This provides traders with the ability to execute large orders without impacting the market overall.

The EUR/USD pairing can deliver big profits even on relatively small movements, making it the prime choice for scalpers. There also tends to be better spreads because there’s so much activity around these currencies.

USD/JPY

Featuring the US dollar again, the USD/JPY is the second most traded currency pairing within forex. It’s still some distance off the EUR/USD pair, taking approximately 13.2% of the market share.

With the USD being the most traded currency in the world and the yen being the most traded currency in Asia, the popularity of this pair shouldn’t come as a surprise. Another pairing with great liquidity, it responds to policy changes from the Bank of Japan and  US Federal Reserve.

GBP/USD

There is a very long history between GBP and USD, making it the third most commonly traded pair. GBP/USD is often referred to informally as “cable” because the bid and ask quotes used to be delivered between London and New York via deep-sea cables.

Traders like to use this pair as it tends to be pretty heavy when it breaks, either one way or the other. This gives good returns for day traders. Large volumes are typically traded in the morning session in London, but the news cycle later in the day from the Eastern Session can impact the performance.

AUD/USD

Known imaginatively as the Aussie, the AUS/USD pair makes up around 5.4% of the market share, coming in 4th overall.

This particular pairing appeals very strongly to traders who are also attracted to commodities. This is because the Australian dollar price is closely pegged to its metal and mineral-based industries such as coal, iron, and gold.

USD/CAD

The final pair in the top five is another one that is closely related to commodities. The USD/CAD pair represents around 4.4% of the daily forex trades.

The Canadian dollar closely follows the fortunes of oil, making it another pairing that is appealing to forex traders who have an eye on commodities.

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Franchise opportunities how to locate them

Franchise, If you think franchising is for you, but you don’t’ know where to start the search process, you’re’ not alone.

Identifying the perfect franchise opportunity can be challenging and take some time, no matter how open-minded and experienced you are. To find the franchise that will be a good fit for you, you should pursue a more established course of action, often called the discovery process. Here’s how you can avoid making the wrong decision with our eight-step process.

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    Define your goals.

What are the reasons that caused you to consider franchise ownership in the first place? They can include the desire to be your boss, a better balance between work and family, the interest in using your skills to build your net worth, and other similar factors. Be brutally honest. This is the time to look deep into yourself to locate your true desires. Setting goals is an important starting point for your business.

Also Read: How To Make Extra Money Online

You may not need any particular skills to qualify for most franchise opportunities. Most franchises appoint relatively inexperienced investors as franchisees and offer comprehensive training programs to get them up to speed with the brand’s business practices but evaluating your personality and defining your personality goals can be helpful.

Franchise

  1. Decide on an industry.

Once you know your strengths and goals, you’ll understand which franchise opportunities will help you reach your full potential. For example, if you’re’ technically inclined, you could be destined for the IT sector. On the other hand, if you love interacting with people, you could start a van-based or Sales business.

  1. Identify some franchise options.

Do your homework to identify an initial group of franchise opportunities that meet some or all of your criteria. It’s’ good to have at least a few options to compare. Look into franchises that interest you and ones that you can see yourself running. Consider the “day-in-the-life” of the operators to make sure you can visualize yourself in their place.

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The first place most people search for franchise opportunities is online. Unfortunately, this method can be somewhat frustrating due to the vast number of options available. It’s’ also challenging to discern between different types of franchises.

  1. Make initial contact.

See how the franchisor handles your inquiries. If you get sent to voicemail, note how long it takes for them to return your call. Don’t’ hesitate to ask to talk to different members of their organizations to feel for their company cultures. Keep track of how the initial communication with the franchisors plays out:

  • Did they answer the phone live with a professional greeting?
  • Did they answer all of your questions to your satisfaction?
  • Did they ask for your information?
  • Were they courteous, professional, and interested in you and your needs?
  • Did they offer the next steps? That is, did they send you information?
  • How do you rate them each on a scale of 1 to 10 (ten being best)?
  1. Identify their processes.

When you contact a franchisor, ask them to outline their franchise sales and qualifying processes. This will help you stay on track and ensure progress. Be wary of companies that don’t’ seem to have any systems or methods to follow. A franchise opportunity should be all about plans on all fronts.

  1. Review your budget

Before you can start to narrow down your choice of franchises, you’ll’ need to work out how much you can afford to spend on your business. Usually, banks are willing to lend prospective franchisees up to 70 percent of their total initial investment cost, so you should be able to consider franchise opportunities above your current budget.

Don’t forget that you will also need to save some working capital to keep your business afloat for the first few months until it reaches its break-even point.

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  1. Evaluate the franchise documents.

Once you’re’ received the franchise disclosure document (FDD) and the franchise agreement from the franchisor, it’s’ a good idea to have a qualified franchise attorney review the franchise disclosure documents with you. However, a standard business attorney may have little or no experience in franchising and could end up costing you more money and time since they’ll need to learn the industry.

  1. Attend franchise fairs and exhibitions

Franchise events take place regularly, and they offer a fantastic opportunity for people to explore investment options. Not only do you have the chance to discover new franchise brands, but you can also talk to their franchisors and existing franchisees.

Most franchisors hold regular discovery or decision day events. This gives you a chance to visit their headquarters and meet their team. These events are opportunities for both the franchisor and you to size up the potential business relationship. Please make no mistake: They’re’ looking closely at your personality, your manner of dress, and all of the other social cues that exist whenever you first meet someone. You, of course, should do the same. As they must feel comfortable with you, you must be pleased with them.

Remember that you may be in business with them for five or even 20 years, depending on the franchise opportunity. Therefore, this is a decision that must sit comfortably with you on an emotional level and a business and financial level.

Characteristics of a substantial franchise opportunity

Here are five characteristics of a substantial franchise opportunity that will help you know when you have found something worth pursuing.

  1. The location is favorable.

The phrase “location” originated for a reason. Suppose the franchise is not in a location that is easily accessible to a large number of people that need or desire its goods and services. In that case, it may be difficult to achieve profitability no matter how good the business and marketing plans may be.

For businesses whose model is to provide goods or services at the customer’s home or business, the office’s location may be less critical. However, other factors such as rental cost, parking for employees, and safety still make a place an essential component to consider.

  1. Sales at existing locations show steady growth.

Businesses grow at different rates, but the companies most likely to be profitable over the long term show steady growth rather than a massive spike in sales in a short period. Trends come and go, so the considerable end today could turn into a freefall next month or next year as customers get bored and move on to the next big thing. Finding a franchise that meets customers’ ongoing needs is a better opportunity than jumping on a sales drive that may not last more than a few years.

  1. Little competition for the same goods or services.

Some competition is not always a bad thing since it can show steady demand. But finding a relatively untapped market for needed goods and services will allow your franchise to gain maximum sales. Some franchisees even try to determine what construction projects are scheduled in the area to ensure that a similar business won’t pop up a year or two down the road.

  1. Ample support from the franchisor.

Finding out what kind of support a franchisor will offer is a wise idea for any franchisee ahead of time. Substantial franchise opportunities will include franchisor help with training, marketing, and wholesale pricing for supplies. Of course, franchisees who have their sources for some of these needs may still find good opportunities outside these parameters, but typically, the more help the franchisor gives, the better the chances for success.

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  1. The contract is simple to understand.

Franchise contracts are notoriously complex, sometimes spelling out the business practices franchisees are expected to follow in specific detail. However, consistency across franchise locations helps customers know what to expect and contributes to brand loyalty, so specificity isn’t always alarming.

However, it is essential to fully understand the terms of any contract so that you know what you’re getting into before you sign on the dotted line.

Becoming a franchisee

If you’re’ hoping to find the perfect franchise for you, don’t’ limit yourself to the apparent channels; get out there and network. Make new connections and ask for their opinions, hold industry publications and use the internet as a research tool.

While it’s’ tempting to only go for famous franchises you already know and love, it’s essential not to ignore smaller brands. While established franchises might have a vast customer base, they can also be expensive, and by overlooking up-and-coming businesses, you might miss out on a fantastic, budget-friendly option.

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10 best franchises you can buy from

Franchises, Are you ready to be your boss? Starting a business can be expensive, and most people don’t have a million dollars to invest in getting their business up and running. However, owning a franchise has countless benefits. You can profit from the franchiser’s recognizable brand while essentially running your operation. The most profitable franchises rarely fail, removing the risks typically associated with opening a brand new business.

Also Read: Franchise Opportunities How To Locate Them

The good news is that you don’t need that kind of money to start a profitable business. There are plenty of great franchises you can buy for $25,000 or less. In addition, the franchises come from all sorts of industries — everything from sports to auto care and restaurant– so there are plenty of options that can fit your interests, strengths, and budget.

From the restaurant and food-service industry to business services or fitness categories, only you can decide which is the best franchise to own. It all depends on your interests, experience, finances, and risk aversion. Since there are thousands of franchises in the U.S. to choose from, the list below is just a starting point. Here are some of the best franchise opportunities available today

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    McDonald’s

franchises

Category: Fast-Food Franchise

Franchise fee: $45,000

Initial investment: $1,008,000 to $2,214,080

Financing available: Yes, through third-party lenders

This is another franchise opportunity with strong brand recognition. If you want golden arches of your own, you’ll need to put in significant initial investment, but you’ll join an organization with many years of experience and success. With that investment, you get brand recognition, popularity, and years of in the fast-food industry.

  1. Sonic Drive-In:

franchises

Established in 1956

Category: Fast-Food Franchise

Franchise fee: $45,000

Initial investment: $1,240,000 to $3,540,000

Financing available: No

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Sonic Drive-In is a drive-in fast-food chain franchise. Sonic Drive-In currently has more than 3400 franchise branches. This drive-in chain prides itself on its operational excellence and customer service. This brand keeps growing.

To start a Sonic Drive-in franchise, you need a significant initial investment, but you’ll receive intense training and brand recognition in return.

  1. 7- Eleven

franchises

Category: Retail Franchise

Franchise fee: $10,000 to $1,000,000

Initial investment: $37,550 to $1,149,900

Financing available: Yes, through 7-Eleven’s internal program

7- Eleven is an American Chain Franchise Convenience Store with around 70,000 location operations across the globe. It was started back in 1927 by Joe. C. Thompson. 7-Eleven sees unprecedented growth. Its stores are turnkey, and you can get started within three to six months, including application, testing, and training.

Brand recognition is also strong with 7-Eleven.

  1. Taco Bell

franchises

Category: Fast-Food Franchise

Franchise fee: $25,000 to $45,000

Initial investment: $525,100 to $2,622,400

Financing available: Yes, through third-party lenders

Taco Bell has been a fast-food chain providing Mexican food since 1962. It was founded in California by Glen Bell. In 60+ years, Taco Bell has gained an excellent brand image in fast food chains. They have developed financial stability and brand recognition. It has a proven operating system and gives you access to restaurant resources and a community of more than 350 franchisees who know the business.

  1. Dunkin

franchises

Founded in 1950

Category: Food & Drink Franchise

Franchise fee: $40,000 to $90,000

Initial investment: $109,700 to $1,637,700

Financing available: Yes, through third-party lenders

Dunkin’ dropped the “Donuts” from its name, but  It was rated #1 in customer loyalty. Dunkin’, previously known as Dunkin’ Donuts, changed its title in 2019. Dunkin’ is an international Donuts and Coffee company. The business is as recognizable as ever, with locations in 32 countries. It is ranked as the topmost food chain in customer loyalty by Brand Keys’ Customer Loyalty Engagement Index. And they support their franchisees with training and assistance with site selection, construction, operations, management, and marketing.

  1. The UPS Store

franchises

Established in 1980

Category: Printing and Packing Franchise

Franchise fee: $29,950

Initial investment: $138,433 to $460,031

Financing available: Yes, through Guidant Financial

The UPS Store is one of the finest brands in retail and customer service franchises. Their service revolves around Retail Shipping, Postal, Printing, and miscellaneous business services. The franchise fee for this business started in 1980 is around $25000. The brand provides set-up, support, and maintenance assistance and has good brand recognition in the franchise industry.

It boasts financial stability, brand recognition, and dedicated training and support — and 84% of the U.S. population lives within 10 miles of a UPS Store.

  1. Sport Clips

franchises

Category: Hair Salon Franchise

Franchise fee: $59,500

Initial investment: $224,800 to $373,300

Financing available: Yes, through third-party lenders

Sport Clips is growing and showing its strength and stability — it has had a high continuity rate of 95.4% over the past five years. This means that out of all the stores that opened throughout the last five years, more than 95.4% of them are open today. It attributes this stability to relatively low startup costs, solid support systems, and continual store performance monitoring.

  1. Jan Pro

franchises

Category: Commercial Cleaning

Franchise fee: $6,000

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JAN-PRO claims to be the world’s number one commercial cleaning brand with 10,000 units in more than eight countries. It requires relatively fewer investments and franchise fees.

Jan-Pro is a commercial cleaning service that cleans other businesses. Several different franchising options are available, including a home-based opportunity, so you can choose the option that best suits you.

  1. RE/Max

franchises

Category: real estate consulting

Franchise fee: $15,000 to $32,000

Initial investment: $37,000 to $200,000

Real Estate Maximums, aka RE/Max, is an international real estate consulting agency working with the franchise model. RE/MAX is a real estate agency that has been in business for over 40 years.  Spread across 100 countries, 100,000 agents are registered with the company, making it a well-known brand anywhere you go.

  1. Popeyes

franchises

Category: Fast-Food Franchise

Franchise fee: $50,000

Initial investment: $383,500 and $2,620,800

Financing available: No

Also Read: Every Great Product Needs Product Specifications

Popeyes is consistently one of the top franchises to own in Entrepreneur’s Franchise 500 Rankings. It’s a well-known fast-food brand with a global presence, robust advertising strategies, and well-developed core philosophies.

Final Thought

McDonald’s might be our top franchise, but a single restaurant will cost over $1 million. But they’re incredibly competitive, and the company doesn’t let you own the restaurant. So hopefully, one of these ten franchises proves the right combination of safety, profitability, and accessibility.

However, none of them guarantee success — that will take diligence, hard work, and some fortune. So good luck, whichever franchise you choose (or whether you choose not to invest in a franchise).

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