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Real talk about all things urban

Wanna start a business, consider a franchise

Being an entrepreneur is a lot of responsibility but evenmore, it is a lot of work and requires some level of knowledge or expertise to keep it going. You have to manage marketing, operations, accounting, finance, legal the whole shabang. An entrepreneurial alternative to starting your own business is to buy a franchise. For the most part, they have the entire business model already set up so all you have to do is execute it. And pay for it. The names are usually known so generating business will naturally be a lot easier than an unknown start-up business.

Black Enterprise posted their annual review of the 25 best franchising options for African Americans. These franchises are expected to grow in coming years and they actively pursue minority recruiters.

The top 5 ranked franchises are:

  1. The Entrepreneur’s Source (Franchise Business Coaching)
  2. Liberty Tax Service (Retail tax preparation)
  3. Money Mailer Franchise Corp. (Direct Response Advertising)
  4. Instant Tax Service/ITS Financial L.L.C. (Tax preparation)
  5. Valpak Direct Marketing Systems Inc. (Direct Mail Advertising)

Given that we are in a recession, I thought that I decided also pull out the most cost effective of the top 25.

The 5 franchises with the lowest maximum start-up cost are:

  1. Jumping J-Jays Castles & Slides (Child-focused Entertainment): min start-up cost $19,000; max start-up cost $19,000
  2. Homekeepers International (Health Services): min start-up cost $24,500; max start-up cost $34,500
  3. FranNet (Consulting): min start-up cost$15,000; max start-up cost $40,000
  4. Jan-Pro Cleaning Systems (Commercial/Residential Cleaning): min start-up cost $2,850; max start-up cost $40,000
  5. Curves (Fitness Centers): min start-up cost $38,200; max start-up cost $44,600

To see the full list, click here.

Source: Black Enterprise

March 14, 2009 Posted by | urbanBUSINESSchatter | | Leave a comment