Home-Based Franchise: Opportunities, Benefits, and How to Start
One of the biggest reasons entrepreneurs like you start franchises is because they want to get away from the grind of corporate work and/or working for somebody else. One of the biggest elements of that life is having to go into the office, store, or another job site. If you want to really break with the traditional corporate business model, then you might want to consider operating a business from the comfort of home.
The Pros
Running a home-based franchise is a viable alternative to working from a brick-and-mortar office or other work location. Research shows 69% of new entrepreneurs start out with a home business. However, like every business model, what works for one person doesn’t always work for another. It’s important to consider the advantages and challenges of working from home before you invest the time, money, and effort into starting a home business.
A home business is a great model for a self-starter who feels restricted working in an office or store, and they can draw a lot of motivation from being free to set their own schedule and manage their own workloads. Businesspeople who want to be their own bosses will find working from home offers them scheduling flexibility, as well as time and cost savings by cutting out regular commutes to and from work. Some people find the more relaxed atmosphere of their homes helps them to be productive and to concentrate on their work.
The Cons
As ideal as working from home may sound, it’s not always the right fit. Some people end up feeling bored and isolated trying to work from home, especially if they’ve grown accustomed to the regular company of their coworkers. Being your own boss and managing your own schedule and workload means you’re responsible for meeting deadlines, customer/client expectations and other responsibilities. Finally, while some people find the comfort of home helps them to focus, others can find it distracting, getting too sidetracked by chores, children, spouses, personal projects, and other things that can grab your attention.
Important Home Business Qualities
If a home-based franchise still sounds like a good option for you, then there’s plenty of franchises with business concepts to choose from that can work. When considering your options, you want to look for a franchise that has an affordable initial investment, offers the necessary training, provides opportunities for growth, and fits your needs and interests.
Good Concepts for Home Businesses
Perhaps the best home-based franchise concepts are those that offer services instead of products; while it’s possible to sell retail from home, it’s much easier to offer a service that doesn’t require extensive space, storage, equipment, or in-person staff.
Professional business services are a great concept for home businesses, as well as being great opportunities for online business. Such services are often found on franchising experts’ lists of good home businesses. Accounting, clerical, consulting, education, marketing, advertising, and other services are all viable. These concepts can be run from a home office. They require little in the way of physical materials, other than office supplies, making them space efficient and cost effective. If your home-based business is a franchise, you can be sure you’ll receive the necessary training and have the support of your franchisor for things like marketing and client referrals.
Work from Home with ERA
If you’re ready to start your own franchise from home, then Expense Reduction Analysts may be the right fit for you. We’re a business cost reduction franchise whose business model is perfect for a home office. If you’re an ambitious entrepreneur ready to join a network of advisors from various industries helping businesses find savings in their operations, you can request info today to learn more!
