I would like to buy a low cost
franchise for my 23 year old
daughter. She is bright,
college educated but young
and inexperienced. I do not
want to spend more than $50,000
Total. What would you suggest?
Thank you for your thoughts.
I have two suggestions. One, check out the IFA https://www.franchise.org/ website and look for franchisor systems that require $50k or less to get into. Then, once you and she find one that matches her skills and interests, you both attend the Discovery day so that you can both ask questions. The benefit of a franchise is you’re not building the business from scratch. As long as she follows the system, she has a great chance of being successful. However, the first 3-5 years are a lot of work! Before signing any agreement make sure to visit other franchisors in that system — to make sure the franchisor/franchisee relationship is a good one, the costs reasonable, and the training and support are top notch.
Laura, Certified Franchise Exec. ICFE
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