Quick. When you think of franchising, what comes to mind? McDonald's? KFC? Subway? Sure, they're well known and seem to be on every corner. But they're also expensive to own. Just consider this: To even be looked at as a potential McDonald's franchisee, an individual has to have liquid assets of at least $750,000. Start-up costs for the golden arches, which include construction and equipment expenses, range from $955,000 to around $2.3 million, and franchisees need to provide 40 percent of that total in cash and other non-borrowed assets in order to buy one.
Luckily, there are plenty of other franchises that cost far less and offer buyers the same satisfaction to experience life as a small-business owner. In fact, according to the International Franchise Association, the Washington, D.C., trade group that represents franchisors, there are more than 300 different business formats to choose from across a variety of industries, with some costing as little as $2,000 to get started.
So if you think you have what it takes to be the boss and like the established operating systems that franchising provides, read on. What follows is a look at some low-cost franchises that can have you calling the shots without breaking the bank.
—By Susan Caminiti, special to CNBC.com
Posted 07 July 2015