6 Advantages of a Home Based Franchise
Many people dream of working from home, but few people with that aspiration end up doing it. If you’re getting into franchising, there are a number of proven home-based businesses offering great opportunities. Running a business from home rather than an office comes with its challenges, but it comes with distinct advantages as well. Here’s a few perks that might help you decide if a home-based business is for you.
Low Start Up Costs
Many home based franchises have comparatively low start-up costs compared to other business. Take Maid Simple House Cleaning, for example. This company asks for a start up fee of just $10,000 to $25,000. Just Junk is a massively successful franchise with multiple awards, and they only demand a start up fee of $50,000 to $100,000. There are a wide range of investment levels available, but overall they are much more affordable than many other businesses.
Low Overhead Costs
Running a business from home also means low overhead costs since you don’t have to worry about building a new store location or leasing office space. This dramatic reduction in operating expenses means the company is easier to run. Aussie Pet Mobile makes a good example of this with their business model. Owners operate out of their home and take the product to the client in a customized van, rather than trying to draw the customers to them.
On the Road Again
Just because you’re working from home doesn’t mean you’ll be stuck inside all day. Businesses like Aussie Pet Mobile and Cody Mobile require you to be out on the road, making contacts, and closing sales. You’ll be out in the field regularly, and this can be suitable for the people who dislike being chained to a desk all day.
Potential Varies With Performance
When you run a business out of your home you are the only person responsible for whether it sinks or swims. You only get out of it what you put into it, so this means it’s even more important to hustle and stay disciplined. Many people think that working from home means you work less, but the reality is that home-based business owners work even more hours to earn the big bucks. If you want to strike it rich it’s up to your own determination to make it happen.
More than Just a Business Owner
Running a home-based business often means you’ll have to perform many tasks to make it work, and this can be a good thing as it offers professional development. Imagine how good it will look on your resume when you can say you had to do sales, management, inventory, marketing, and customer service all by yourself. It may sound like a lot, but when you get over the learning curve and gain confidence you’ll become more self-sufficient. Running a business from home, and making a success out of it, could be just the thing to turn you into a powerhouse businessperson.
Superior Work-Life Balance
When you work from home, you set your own hours and this allows you to make time for family and other obligations that come up. Need to schedule a doctor’s appointment? You don’t have to worry about ducking out of the office for a couple hours because you can make up the time later at home. This is an attractive advantage for those who are raising children and need to devote time to taking care of them every day.
Working from home isn’t for everyone, but hopefully these pointers can help you decide if it’s for you. There are challenges such as the long hours alone, and learning how to manage your time effectively, but if you have the right mindset and determination to get the job done, you should be fine.