If you have ever wanted to be your own boss, it might not take as much money to start a successful business as you think.
Franchise Business Review, which analyzes hundreds of franchises, recently released a report of 80 top-ranked brands that have minimum investments of under $100,000 and came highly recommended by franchisees of the business.
Franchising can have considerable benefits, Franchise Business Review CEO and Managing Director Eric Stites tells CNBC Make It. Usually little or no experience in the industry is needed to get started with a franchise he says, although some prior knowledge of business helps.
"You're investing in hopefully what is a proven business model," he says. "You've got a whole network of franchise owners doing the exact same business that you're doing."
Of course, nothing is without risk. "You still, as the business owner, have to go and make it all happen," he says.
Many of the most affordable franchises don't involve operating costly storefronts (like a McDonald's would, for example). Instead of real estate, the costs go to things like training — learning to be a real estate agent or exercise professional — and the endorsement of the brand. Plus, franchisees can often work from home.
To identify the companies on the list, Franchise Business Review collected data from 13,000 franchisees between October 2015 and April 2017.
"Total start-up investment" includes the "cash requirement," plus the amount franchisees would finance for other necessities.
Here are 10 franchises that have low costs, and were ranked in Franchise Business Review's 2017 report.