Thursday May 20th, 2010

Starting A New Business In This Economy – Are You Crazy?

Yes, you can call me crazy if you like, but I believe that right now is a great time to start a business! In my experience the success or failure of a business has more to do with having the the right quality people, proper planning, and having good systems in place, than it does with what shape the economy is in. Sure it is a consideration, and I hear the doom and gloom everywhere just like you, but whether they want you to know it or not, there are MANY businesses doing just fine right now.

Take a look at some of the top franchise opportunities right now that require less than a 50K investment.

Also – don’t forget to check out the Quick Tool – Odesk. We just posted a project today on Odesk, and in 15 minutes had the job hired out and in progress – VERY COOL!

– Jack Madison

“We would accomplish many more things if we did not think of them as impossible.”

– Vince Lombardi


Top 7 Franchise Ops Under 50K

By Jack Madison

Heaven’s Best
: Cleaning & Maintenance
Description: Heaven’s Best is a worldwide leader in carpet and upholstery cleaning franchise opportunities for commercial and residential locations. Our unique “dry in one hour” process yields exceptional results. Heaven’s Best cleaning experts can tackle the toughest stains and dirt leaving your carpets clean and renewed.
Startup: $24,900 – $60,000
Cash Required: $15,000
Net Worth Required: $50,000
Year Founded: 1983
Franchising Since: 1983
Total Locations: 2700
Total Franchisees: 400

Computer Troubleshooters
: Technology
Description: Computer Troubleshooters is an on-site computer services franchise. Computer Troubleshooters franchisees provide hardware repair, networking, software consulting, diagnostics, Web site development, security consulting and other computer services to small businesses.
Startup: $35,000 – $49,000
Cash Required: $25,000
Net Worth Required: n/a
Year Founded: 1997
Franchising Since: 1997
Total Locations: 476
Total Franchisees: 450

Oxi Fresh Carpet Cleaning
: Cleaning & Maintenance
Description: Oxifresh Carpet Cleaning® is now the front-runner in the evolution of the carpet cleaning industry. The company’s key strengths are in its wealth of business experience and innovative products proven to reinvent carpet right before the customer’s eyes.
Startup: $28,900
Cash Required: $28,900
Net Worth Required: $28,900
Year Founded: 2006
Franchising Since: 2006
Total Locations: 196
Total Franchisees: 125

Truly Nolen of America
Category: Pest Control Services
Description: Truly Nolen is one of the fastest growing companies in the pest control industry with numerous branches abroad and in the US. The driving force behind the growth and recognition of the Truly Nolen brand is a strong set of corporate values that translates into continued growth for the future.
Startup: $3,600 – $226,500
Cash Required: $45,000
Net Worth Required: $100,000
Year Founded: 1938
Franchising Since: 1997
Total Locations: 116
Total Franchisees: 10

Showhomes Home Staging
Category: Real Estate
Description: Showhomes is a home staging business with a twist: they recruit ‘live-in’ home stagers to occupy and manage vacant homes for sale. The live in home stager, called a Home Manager, pays a monthly fee that is a third of the normal rental rate so the homeowner doesn’t have to pay monthly staging fees.
Startup: $43,000
Cash Required: $10,000
Net Worth Required: $25,000
Year Founded: 1986
Franchising Since: 1994
Total Locations: 60
Total Franchisees: 41

FocalPoint Coaching
: Business Services
Description: FocalPoint Coaching powered by Brian Tracy has created the world’s premiere business performance coaching franchise. FocalPoint Coaching provides professional, entrepreneur and business coaching. It is the evolution of years of work in maximizing achievement with businesses and entrepreneurs around the globe. It is the new model for providing organizations and people with the concepts and strategies to transform their businesses and their professional lives.
Startup: $49,950 – $49,950
Cash Required: $75,000
Net Worth Required: $100,000
Year Founded: 2000
Franchising Since: 2004
Total Locations: 60
Total Franchisees: 53

: Child Services
Description: JUMPBUNCH offers structural sports and fitness programs for children 15 months to 6 years old, as well as for school age children ages 6-12. The classes are 30 minutes long, once a week, year-round, with over 70 activity plans. They are offered as part of a child’s day at school, daycare, after-school program and rec departments. JUMPBUNCH is not a gym or facility; rather, they go out into the community to teach their classes.
Startup: $40,700 – $73,900
Cash Required: $50,000
Net Worth Required: $75,000+
Year Founded: 1997
Franchising Since: 2002
Total Locations: 33
Total Franchisees: 31

Quick Tools:

Find and Manage Outsourced Workers

If you are running a business, it is important to know your strengths and weaknesses. It is equally important to know how much your time is worth.

When an entrepreneur REALLY knows how much their time is worth, they inevitably turn to outsourcing. Why would you waste an afternoon trying to edit a video when that same project can be done faster, with better quality for a fraction of the cost.

Every minute that you aren’t spending on mission critical and sales oriented tasks equates to money down the drain. Odesk helps you find and manage outsourced workers. You can find workers that are willing to do anything that you need. It also has great tools that help you manage projects and track each workers progress.

Odesk has many great tools and features but the very best part is that you can hire workers on an hourly basis and odesk will take periodic screenshots of their computer to make sure they are staying on task. If you’re not outsourcing your weaknesses and low level tasks, you should start NOW.

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