Get Expert Advice and Secrets on How to Run a Profitable Home-Based Franchise Business

By a Panel of Home-Based Franchise Experts

Many people think that franchise businesses are appropriate only for those who intend to open large storefront businesses with a certain number of employees. There are, however, actually many well-established, successful home-based franchise opportunities that fit people who want to be self-employed and work from home, on a part-time or full-time basis, without hiring any additional employees. These home-based franchise opportunities are also currently available in a variety of industries.

A home-based franchise business can be an affordable career option for you to pursue. It can also save you the hassle of a commute and offer you flexibility, limited and controlled hours, and more family time. With a home-based franchise business, you can also be your own boss.

If you are considering a home-based franchise business, you most likely have questions: How do I get started? What are the advantages and disadvantages of a home-based franchise business? What are some types of home-based franchises out there? How do I go about researching home-based franchises?

Drawing on their years of experience, a panel of franchise experts provides the answers to these questions. Their expertise can help you successfully start up and run a home-based franchise business. Also check out the 55+ Home-Based Franchise Opportunities table in this issue for companies offering home-based franchise business opportunities.

 

Starting a Home-Based Franchise

By Franchise India

A home-based franchise is a lucrative business opportunity. It is economical as opposed to a large amount one would need to invest in a storefront. The economy has been rising and falling rapidly, as a result of which a lot of entrepreneurs have decided to start franchising businesses. Home-based franchises provide comfort, flexibility and the luxury of working from home.

Yet the biggest advantage of developing a business opportunity from home can also be the biggest disadvantage. This is a full-time endeavor and you will have to give all of your time. The business will not flourish if it is an afterthought or a side business. Before you start off, check to see if you are ready for the following;

Time: Since you and only a small team if any are responsible for the business, the hours that go in will be long. Check and ensure everyone is on the same page.

Space: The place you operate the business from does not have to be right in your home; it could be a separate room or office space that you dedicate to working. Understand that you may need to work in a solitary environment.

Finance: Your funds must be in place with enough margins for risks. The costs involved in the business will be borne by you, so financial stability is of prime importance.

If you are ready and keen for the challenge, then go ahead and check out your home-based franchise options. Make sure you get the necessary permissions before you set the home-based franchise business up.

Once you have decided what business it is that you will run, it is very important to set a schedule. A home-based franchise may result in you slacking as it is under your own roof, on your own time. Set a strict schedule as to the hours you spend at work, and don’t let household chores come in the way of that. This does not only mean you start off at a particular time, this also entails work ending at a certain time. Extra hours can be put in as and when needed. Learn to separate the workplace from your home. Have a different room with basic furniture and preferably a different phone line and another computer.

Yet you also have to maintain the balance, once a day at work is over. Some entrepreneurs find it difficult to switch off between work and home. This may be a successful approach for the business, but may cause irritation to your family members. Professional and personal life must be balanced in order to reach financial goals. Once a sense of decorum has been achieved, your home-based franchise business is sure to do well.

Franchise India is a one-stop solution for aspiring entrepreneurs to select franchise business opportunities. The website is a premium source to explore business/franchise opportunities through its various sections like franchise directory, franchises for sale, news, looking for a franchise, articles and interviews in terms of franchising, retail franchising, and entrepreneurship. Visit http://www.franchiseindia.com/ or email editor@franchiseindia.com.

 

Advantages and Disadvantages of Home-Based Franchise Opportunities

By FranchiseBuyersNetwork.com

Overall, a home-based franchise opportunity can be a rewarding experience as well as a nice business opportunity. As with any other type of opportunity, however, it is important to understand the advantages and disadvantages of a home-based franchise before committing.

 Advantages of Home-Based Franchise Opportunities

• Flexibility – Operating a home-based franchise from home can give you more opportunities to set your own hours; you may be able to start part-time; then increase your hours later as your situation changes.

• Family Time – Time with your family is likely to be more readily available when desired or needed.

• Fewer Costs – Overhead would not be an expense since there would be no need to rent office space.

• Possible Tax Write-offs – It may be possible to write off a portion of your home that is used as an office.

• Personal Touch – You are more likely to get to know your clients well and build a rapport with them, increasing your business largely by word of mouth. 

Possible Disadvantages of Home-Based Franchise Opportunities

• Little Reprieve – Since you are likely the only person operating your home-based franchise, you will be responsible for all facets of the business; therefore you may have little opportunity to be far away from the business.

• Multi-Tasking – You must have the ability to juggle all of the jobs needed to run the home-based franchise business smoothly including marketing, customer service, and finances.

• Business Vs. Family – You will need to develop the skills to keep your personal and business life separate. Different phone lines would be one way to accomplish this goal.

FranchiseBuyersNetwork.com offers franchise opportunities & business opportunities for sale. Looking to buy a franchise or start a franchise? Receive free information on over 200 franchises. Visit FranchiseBuyersNetwork.com.

 

Types of Home-Based Franchises

By Anto Mahtew

You can choose from a wide variety of options in every franchise industry, and benefit from a tried and tested operation, giving you more earning potential and less risk than going it on your own. These home-based franchise opportunities allow you to be part of a recognized brand name, and provide you with the training, support and launch assistance necessary to run a successful business. You will also benefit from a network of franchisees with which you can exchange advice on how to best run your home-based franchise.

Some examples of home-based franchises are listed below. Many of these require simply a computer, an Internet connection, and a telephone.

• Internet Franchises: This includes web portal franchises, which allow the franchisee to work from a home office and source advertisers for their website. There are also other online businesses and Internet services franchises that allow you to work from home. These may involve finding clients for websites or offering various services online.

• Magazine Franchises: These franchises are either actual print publications or online magazines, which focus on the local community. You work from home to find local businesses to advertise in your publication.

•  Business Consulting Franchises: You can assist business with important tasks like business improvement, training, financial management, and development from your home.

• Dating Franchises: By planning events from home, you can play matchmaker to singles. Occasionally, you will also need to leave the house to attend the singles events you plan.

• Travel Franchises: You can sell travel and vacation packages with a home-based travel franchise.

• Children’s Franchises: A variety of options are available for home-based children’s franchises, including children’s party, educational, drama, and fitness franchises. Some franchises may require you to hold events and classes outside of your home.

• Cleaning Franchises: Commercial and domestic cleaning management franchises offer you the ability to run a home-based small business. You won’t be doing the cleaning — you’ll be working on the sales and management side of the operation, trying to get new clients to sign on from home. Then, you will recruit cleaners to fill these contracts.

• Computer Franchises: By providing clients with IT support and computer troubleshooting assistance, you can operate from your home. However, this option may require you to go to the client’s home or office to provide services as well.

• Automotive Franchises: This includes car valeting franchises, which are often van-based operations that give people the convenience of getting their car washed whilst running errands. There are also many auto repair franchises, including dent removal and wheel specialists that are home-based, although they require mobility. This would not be an ideal option for the stay-at-home parent.

Anto Mahtew is the Online Marketing Coordinator at Franchise Direct. Franchise Direct UK & Ireland is the directory of business franchises for sale and franchise opportunities for sale. For more information, visit http://www.franchisedirect.com or http://www.franchisedirect.co.uk/

 

More Home-Based Franchise Opportunities

By Corey Barber

Home-based franchises are very sought after these days. There are plenty of those types of opportunities out there in various categories. Below is just a sample of franchise businesses that are home-based.

• Handyman and Remodeling: Homeowners are choosing to remodel or expand their current homes, so if you’re familiar with, involved in, or passionate about the building and remodeling industry, there are several great opportunities available in this field that you should consider. Some require extensive construction experience. However, with others, your role would be that of sales and marketing, so the actual labor is performed by contractors you work closely with.

• Direct Marketing: Perhaps you have a special talent and a passion for marketing. You could run your own local marketing consulting company out of your home office. Your role would be to help local businesses succeed by providing integrated direct mail and online and mobile marketing solutions that help business owners target and retain more of the right customers.

• Home Improvement: Maybe you would enjoy making sales presentations to homeowners looking to replace their worn carpeting or to upgrade their window coverings. The home improvement market is huge and continues to grow, with Americans spending more money on remodeling, renovating, and decorating than ever before. You can run this business easily from your home, using a specialized van as your “marketing showcase on wheels.” In many cases, this franchise category requires little if any experience, minimal staff, and a quick ramp up to profit. Not to mention a low investment requirement.

• Pet Care: Do you love pets? Did you know that there are some fantastic pet franchises that you can operate from a home office, like pet cleaning and grooming, as well as dog training?

• Automotive and Tools: Perhaps you are mechanically inclined or love automobiles. You could operate a mobile vehicle detailing franchise, where you would make “house” calls at local professional businesses to clean cars. Or maybe you know tools like Warren Buffet knows investing. How about a business-to-business tool franchise where you market specialized tools to automotive repair shops and professional technicians?

A knowledgeable franchise consultant can work with you in identifying the specific criteria you are looking for in your perfect business.

Cory Barber is a professional franchise consultant affiliated with the world’s top franchise broker network. He is also the President of The Franchising Authority, LLC and provides full-service franchise consulting services to aspiring business owners.

Franchise Research Yields Success

By Sunshine Consulting

Getting the ideal franchise takes a lot of franchise research and endurance. It is crucial you do your research before signing any dotted line. This development will help you find out which franchises are gainful and which ones will fit your personality and lifestyle.

It is central that you consider the market at both a home and national level as well as looking at the traits of the individual franchise. The franchise businesses having a touch of demand are likely to stay stable clearly offer a smarter investment. Other potential national trends to deem are movements towards new products or technologies and modifications in laws such as taxation. You need to be sure that the franchise is working well and is feasible in the long term.

Other excellent ways to search out about franchising include reading magazines and web articles and attending franchise expos. You should also have discussions with the franchisor and existing franchisees. Get in touch with the impending franchisor through email or phone, or even better, go visit the company’s headquarters. Gathering with the franchisor permits you to ask questions that aren’t on the company’s website. Find out how long the company has franchised its business representation and with what kind of growth rate.

Franchise research is all about looking out for a right kind of franchise business and checking out its goodwill in the market to have excellent business profits.

Sunshine Consulting provides franchise consulting and brokerage services to individuals and franchise systems.  Its clients comprise both people who are looking buy a franchise to meet their income and lifestyle goals, and franchisors that are looking to develop and grow their system. For more information, visit http://www.buyafranchiseconsulting.com.

 

A New Start with a Home Based Franchise Business

By Nick Strong

For a home-based franchise business to succeed, the franchise owner must have two main qualities:

• Drive
• Self-control

The individual should be driven and dedicated to its success. The individual should also be motivated each day and committed to carry out the business responsibilities without getting distracted by domestic life. This is easier said than done, seeing as everyone’s enthusiasm can often go up and down from one day to another.

For an individual with drive and self-control, a home-based franchise business could be a good business option with the lifestyle advantages of being situated at home. If you have an interest in a home-based franchise business, you can start by researching some of the home-based franchises available via online franchise directories.

Nick Strong is the Managing Director of Select Your Franchise UK Ltd and is a leading franchise expert in the UK Franchise market.  Nick has over ten years experience in UK and international franchise sales and network development. A regular speaker at British Franchise Association and other franchise events around the UK, Nick specializes in providing recruitment training to franchisors. Visit http://www.selectyourfranchise.com.

 

Can a Low Cost Franchise be a Good Investment?

By Matthew Anderson

When buying a low cost franchise there can be many reasons for why the franchise is low cost:

1. Lack of expensive equipment needed to operate the franchise. Many franchises need specialized equipment and lots of it. This can bump up the cost of the franchise considerably.

2. Lack of a shop front, warehouse, garage, or office. Many franchises are located on high streets or, as with car-based franchises, based in garages. Many also have high street offices or need restaurant/ cafe style buildings. As you can imagine this can take a franchise up in price by many tens of thousands of dollars.

3. It may be a new franchise. When some franchisors franchise their businesses, they first offer several pilot areas out at cut price. Although there may be some risk involved, you could be grabbing yourself a bargain by buying into this type of low cost franchise.
4. It is a home-based franchise. A low cost franchise is almost always run from home, and without the need for expensive shop fronts the franchise price can be considerably lower than its shop counterpart.When buying a franchise, whether it is a low cost franchise or of the most expensive variety, you should always do your research. Asking questions of the existing franchisee base as well as the franchisor can ensure you are buying into a viable and profitable franchise opportunity. Do not make the mistake that many have and jump in head first without doing your proper due diligence as this can only lead to disaster and you being either left in debt or without your life savings. HBM

Matthew Anderson is a franchise consultant and founder of The Franchise Shop, a UK business franchise directory featuring everything from Van Franchises through to Internet Franchises and Dating Franchises. Visit http://www.the-franchise-shop.com.

 

Franchise Wealth!

If you want to be self-employed and work from home, one great option is to start a home-based franchise business. There are numerous, well-established, franchise opportunities to consider that can be very profitable. Do the necessary research and then decide if a home-based franchise business is right for you and your family.

The wisdom and insights provided in this article by these franchise experts can help you successfully start and operate a home-based franchise business. Also check out the table of 55+ Home-Based Franchise Businesses and profile information in this issue. Your success is in your hands. Get started and work toward achieving “Franchise Wealth.” Good luck. HBM

For additional articles on franchises, visit https://homebusinessmag.com/businesses/franchises and http://www.articlesbase.com. For information on individual franchises, review the “Table of Home-Based Franchise Businesses” in this issue or visit https://homebusinessexpo.com and click on the “Franchises.”