While there are many low-cost businesses in the US, not all are worth your investment and not all of them are suitable for you. For one, not every low-cost business is crafted with profit formulas and recession-resistant models.

We have compiled a list of 5 traits you can consider a business franchise as the best low-cost franchise. Check whether the franchise opportunities check the lists below.

1. Does your Franchisor have a proven track record?

One of the easiest ways to tell whether a particular low-cost franchise is successful is by checking its track record. How many franchisee units does the franchisor have? And how many of them are successful. Preferably all of the franchisees should work well, but in case some didn’t work for whatever reason, make sure there is a great number of active, successful franchisee units.

While being a successful business doesn’t mean it can be a successful or good franchise opportunity, it is important to see how your franchisor operates its business. Your franchisor is your role model at this point, and if it itself doesn’t have a great career and has found the remedies to common challenges, then you cannot count it as a good franchise opportunity.

Window Medics is one of the franchisors that offer successful franchisee units across both the US and Canada. While the number of franchisee units might be lower than many other similar low-cost franchises, it is focused on the successful aspects of it more.

2. Does it have overwhelming competition?

A low-cost business would be overwhelmed by too many competitors with low resources or opportunities for growth. This is why you should look for a business that is not only low-cost but offers a unique selling proposition if you are a unique business altogether.

All businesses are bound to have competitors, but some businesses stand out because of their transparency and aim to be a leader in the industry. One of the best ways to do that is by offering a unique service, like Window Medics.

Window Medics, while belonging to the home service industry, window glass industry to be precise, offers a window glass restoration process called defogging process. While many companies offer similar services like Window Medics, they are not offering this defogging process as a service, helping Window Medics unintentionally move ahead with their business.

Although some companies do offer this restoration solution, they are not as developed as Window Medics, which is not only patented but also saves a great amount of expense.

3. Do you have support from your franchisor?

Your franchisor shouldn’t only be there to claim the royalty fee. A genuine franchise opportunity comes with guidance and ongoing support from your franchisor, where your franchisor cares about the reputation of their brand name doing well in other locations as well.

The more involved your franchisor is with your business, the more chance of success and survival your franchisee unit has. Preferably, your franchisor should be with you through every step of the process, encouraging and guiding you and helping you easily tackle common challenges from experience.

Support like advertising and marketing should also come from your franchisor – or at least the marketing materials to market it in your local area. Franchisors like Window Medics offer ongoing marketing support and materials to all its franchisee units despite the brand name itself acting as marketing on the national and regional levels.

4. Does the franchise opportunity have a recession-resistant business model?

This point might be on the fourth, but it is equally important as the previous ones. A small business would face more issues during the time of recession, especially if small business deals with services that are not a basic necessity.

But a recession-resistant business model will easily ride out the storm. This includes services like home-based services, including glass repair and replacement services. For example, a pharmacy or an emergency home service will be relevant even during the recession.

Whether the economy is booming or recession is hitting every industry, Window Medics and its franchisee units have managed to drive income by steady sales even during the recession. This is the result of having a recession-resistant business model as much as marketing.

5. Is your franchisor knowledgeable about the industry?

How well does your franchisor know its own industry? Is the company just a pretentious company by a wealthy person who has no passion or knowledge about the industry whatsoever?

A good franchisor should be knowledgeable about the industry along with being passionate. While being a leader in the industry is not necessary but preferred, the franchisor needs to stay updated with the recent developments or innovations in the field.

Being knowledgeable and passionate will help a business develop its own technology, offer an industry of innovative services or products and change the industry for the better.

For example, Window Medics has developed its defogging process, which is now patented and one of the only successful restoration processes. This makes them an industry leader, which many others would try to follow and offer the service, changing the industry for the better.

Conclusion

Apart from laying down the traits of the best low-cost franchise, we have also mentioned Window Medics as an example, which should make it easier for you to find a similar business in your preferred industry. In the case of the home service industry, you can always contact Window Medics to inquire about their franchise opportunity, the details and requirements. To know the details about Window Medics franchise business, call 888-329-7116 or email info@windowmedics.com.

Don’t forget to focus on the business based on your interests while chasing or looking for the best low-cost franchise business.