Learn ways you can invest your tax refund to become a business owner!
As we are getting close to the end of tax season, many of you might be getting the good news that you will be receiving a tax refund! With this new extra budget on its way, you might be tempted to simply blow your earnings on a shopping spree, vacation, a nice new car, etc. But if you are really thinking about how to solve your long term problem and how to become financially more successful and potentially free in the future, this might be a GREAT opportunity to use these unexpected funds and invest in a new business.
Now… the other thought you might have in your mind is that opening a business requires way more than the tax refund you are receiving. You might then be surprised to know you could invest in a new franchise or business with as little as $10,000! So why not put this new money to work and invest in your future?!
Here are some examples of great low-cost business models and franchises you could consider:
Home-Based Travel Agency
With as little as U$10,000 you could start a home-based travel agency franchise. The investment includes a 6-day training in Ft. Lauderdale, FL and after training you receive extensive support from the franchisor (with marketing/lead generation programs and technology tools). This franchise has no minimum monthly royalties, no territory restrictions in the US, and can be performed either part time or full time from home. This business model has a family of over 900 franchise owners and is one of the largest, privately-owned, nationally-recognized and continually-awarded travel selling agencies in the country.
Hardwood Floor Maintenance Services Franchise
With the investment starting at U$15,000 you could start a hardwood floor services franchise, which is focused on bringing back the beauty and character of hardwood floors by gently buffing minor nicks and scratches in the floor’s finish, without sanding away precious wood. Typical customers include homeowners, businesses, and remodeling contractors. This is a market with high consumer demand, and a business model with low overhead and operating costs. The franchisor provides comprehensive training and support, marketing programs, branding package, access to preferred suppliers, sales support, in summary no aspect of the business is left to chance!
Retail Product Development Consultancy
With less than U$20,000 you could become a retail business consultant, helping clients products get noticed in retail, which includes Brick and Mortar, E-Commerce, and Catalog/Direct Response. Typical clients have consumer products and are looking for assistance or guidance on how to sell to or work with retail buyers. In this licensing business model, licensees will become trained and certified as a retail coach, and provide the retail expertise, mentor-ship, or support necessary to help a client get retail-ready. This is a home based business or could be conducted in an office. This is a market that is growing fast due to the influx of crowd-funding product platforms. There is little or no overhead. It is also a low competition market, due to its unique service offering!
Grout/Tile Restoration Franchise
With investment starting at U$20,500, you could invest in an uncomplicated home-based mobile franchise business specializing in renewing existing tile, grout and natural stone to its original beauty for residential customers. Franchisees may also offer commercial grout and tile care, natural stone refinishing, permanent protective coatings and other supplemental services. This franchise is rated as one of the top franchises in North America by Franchise Business Review and it is proud to be the largest, most experienced and recognized brand in its industry. They also offer a comprehensive training to get you started on the right foot: The initial training includes 80 hours of “hands-on” training over 9-10 days in the field and in their specially designed training center in the St Charles, IL area, a southwestern suburb of Chicago.
Loan Brokerage Agency
With investment of U$19,950 you can get ready to start your own financing company in the business of providing loans to small to medium size businesses who cannot get financing at their local banks. The group behind this business model provides a four day training in New York City where you will learn every aspect of the finance business and all of the types of loans you can provide. When you complete the training you will be approved by approximately 25 lenders. As a loan broker you will be able to provide about 30 different types of loans, including equipment financing, invoice financing, unsecured business loans and others. In summary, you will be able to provide just about any type of loan a business owner needs. This is not a typical franchise, so there are no royalties and no territory restrictions.
In order to be in this business you need to deal directly with the lenders. Most new agents are always wondering how to get business and feel that this is the hardest part to achieve success. With the banks not lending and turning down 90% of loan applications, businesses are constantly looking for funding. The lenders you will work with can approve A through D credits in as little as 24 to 48 hours and you as a broker can make commissions on loans from U$10,000 to U$3 million of up to 15%. Through their training you will learn how to market your services and they will also provide you with a state of the art website with a custom designed logo and look. They also provide everything else you need from custom stationary, software, brochures just to name a few. They also provide ongoing lifetime support.
You may also want to explore opportunities to invest in more passive types of business, and investing in a vending machine might be a great option in that case. Investments are very flexible and typically start at less than U$20,000. These are scalable businesses and you can plan to create an empire of machines by acquiring multiple machines over time and placing them in strategic locations. The operations are typically quite simple! The companies behind these business typically provide great training on how to operate the machines, as well as provide assistance identifying the strategic locations to place your equipment. They also help negotiate with the locations. There are many types of vending machines available for investment, such as natural snacks machines, beverages, bulk alkaline water, ATMs, etc.
In summary, we just wanted to give you a hint of the diversity of nice business models and opportunities out there where you could invest your money and build a great foundation for your financial future!