Home-based Franchise Opportunities – a guide
Lots of people dream about working from home. People who are fed up of commuting miles every day; sitting on sweaty commuter trains or in rush hour traffic week after week, year after year. People who wish they could see more of their families instead of wasting much of their lives travelling to and from work or spending too long away on business.
Some of those people dream about working from home and for themselves.
People who are fed up with corporate life or the tedium of a nine-to-five, and who are tired of seeing much of their effort go unrewarded.
People who feel they could do a better job of it themselves, or who would like to take control of their lives and their earnings.
Perhaps you’re one of those people.
But, like many, you don’t want to risk it all on a start-up business or don’t have a radical new idea that will take the world by storm.
So what about a franchise? A business model that has already been developed and with which, statistically, you’re five times more likely to succeed.
Sounds good. But are there many home-based franchise opportunities out there?
The good news is yes. There’s loads of them.
There are franchises that can be run from home in a wide range of industries and sectors. Some will suit stay-at-home mums, others recently redundant white-collar professionals. In reality, there’s something for everyone.
But are there many home-based franchise opportunities that will give you the freedoms you crave and enable you to support the lifestyle you’ve become accustomed to?
Before you begin your research, think carefully about what you want from a business. What are you trying to escape from and what do you want to achieve? Think about the impact on your home life, and what impact your home life will have on your business.
What you really want to know is are there many home-based franchise opportunities that will suit you and your circumstances?
Family friendly franchises
How many franchises can be fitted in around young children? Businesses that allow you to manage the school run, or be there for your children when they’re very young. In other words, are there many home-based franchise opportunities that allow flexible working hours? Or, even better, are there many home-based franchise opportunities that can be run on a part-time basis?
Lots of IT-related franchises can be operated with just a laptop and a decent broadband connection. And as long as the business doesn’t require phone calls or meetings when the children are around, your obligations can be fulfilled without neglecting your parental tasks.
And, yes, there’s an abundance of part-time franchises in sectors as diverse as home publishing, bookkeeping or vending. Most of which can be operated from home.
But what about older children? Are there many home-based franchise opportunities that you can run as a family business?
Of course, there are plenty of management franchises in which your children could work with you, or even takeover when they’re old enough. But, whatever the business model, you should be able to deploy your children in some work-related pursuits.
Your accountant will tell you it’s more tax-efficient to pay your children their pocket-money in return for some legitimate working activities, such as leaflet dropping or basic administrative tasks. And it they’re in their teens they’ll be very familiar with online marketing, so they could even help you promote your business through social media.
The challenges of working from home
You’ll need discipline if you’re going to invest in one of the many home-based franchise opportunities. You have to make sure household chores don’t interrupt your working day – whether those chores are a necessity or just procrastination. Because it’s easier to put off that stressful phone call if there’s washing to hang out!
While it’s also great being at home to greet the kids when they get back from school, you do need to get back to work while they’re there. And that can be difficult on everyone.
If you have an office in which you can shut yourself away, then that’s great. Especially if it’s far enough away from household noise like children playing and dryers tumbling. Conversely, it can also be difficult for children to tiptoe around the house while mum or dad is working.
Which is why you must think carefully about how you’re going to maintain harmony in the household. A franchise will affect more aspects of your lifestyle than you might think. So, are there many home-based franchise opportunities that are realistically viable within your own home?
Couldn’t it all get a little lonely?
If you’re working alone and from home, you won’t be sidetracked by conversations about last night’s soap operas. Nor will you have to negotiate the office politics debated at the coffee machine.
But if the office gossip drives you mad today, will you miss the interaction with others when you’re stuck at home all day?
Most of us are social creatures. We need other people to bounce ideas off, or to share our concerns and fears. So, are there many home-based franchise opportunities that involve getting out and meeting people, or working with others?
Actually, yes. Quite a few of them do.
Just because the franchise is home-based, it doesn’t mean you’ll be stuck at home all day. There are hundreds of van-based franchises that involve face-to-face sales. And there are many home-based franchise opportunities in which you’ll need to take on staff.
What can you expect to earn?
For many people, it’s the fear of taking on too many overheads or a lack of capital to invest that pulls them towards home-based franchises. But, with low-investment often linked to low returns, are there many home-based franchise opportunities that offer high returns?
Well, to begin with, not all home-based franchise opportunities are low investment. Some command a franchise fee of £40,000 or more. Many of those will be ‘white-collar’ franchise opportunities that can deliver six-figure returns.
Thousands of people invest in a franchise every year. Many are escaping from corporate careers they no longer enjoy. Others have the decision forced upon them through ‘downsizing’ or ‘management-restructuring’.
Most of these people have no regrets about leaving their old career behind.
But, as with any financial investment – and one that will impact on you and your families’ lives – you need to carefully consider all of your options before making your decision.
The appeals of running a business from home are obvious, but are there many home-based franchise opportunities that can provide you with the income you require? And, equally as important, are there many home-based franchise opportunities that are suited to both your home and everyone else in your household?