In a new global economy, many entrepreneurs are simply rolling out of bed every morning to find themselves looking at their office. Many of these pajama-clad (hopefully!) executives have chosen the franchise business model as their ticket to a better future. Reasons vary as to why some look to home-based franchise opportunities for success but there are great advantages to be gained from working a franchise out of the home.
Benefits of Home-based Franchise Opportunities
Working out of the home gives, by it’s own definition, a benefit of intimately knowing your surroundings. Other great advantages are as follows:
- Location, Location, Location — Unlike many traditional franchise opportunities, finding available land for your building is not an issue. Studying traffic patterns, local competition, signage, storefront appeal and other problems do not exist.
- Weather Conditions — On days when two feet of snow blanket the ground, you’re not enduring a boring day staring outside (with accompanying snow blindness) for an occasional die-hard customer to visit. Depending on the franchise, you may be taking an order from a customer in Palm Springs — Florida or California, take your pick — while the surrounding businesses are at a virtual standstill.
- Low Capital Expenditure – Because the franchisor’s investment is lower, yours is often lower as well. You still have training, support, equipment and other amenities that the franchisor provides but, certain supplies, signage, advertising banners and other tangible items may not be required. Therefore, many home franchise opportunities often have a lower up-front franchise cost, which may reduce or eliminate the need for franchise funding.
- Perfect for Couples — Those who choose so may want spousal or partner involvement in the business. This way, one may be free part of the day for the business operation while the other tends to domestic demands. Each can switch off taking care of the home duties and the kids in turn. In consulting, interior design or other such enterprises, when one is out of the home at a location, the other takes calls or emails.
- Location Security — Invariably, there is the risk of liability from someone slipping on a wet floor or tripping over an object in a physical business location. Also, breaking and entering, or someone creating a serendipitous drive-through area with their vehicle are virtually eliminated. There are no neon signs inviting burglars nor are there parking lots.
There are other advantages for different individuals, depending on their needs and situations. There’s no commute, minimal or no labor force to hire and certain insurance costs are low or non-existent. However, don’t choose a franchise only because it allows you to work from home. Selecting from all the different franchises for sale requires you pick the one that is the best fit for you.
Potential Problem Areas
Just because these franchise opportunities allow such great amenities, you need to assess yourself before diving in. Do you have the personality type for franchising? Do you have previous business startup experience? Do you have sales skills? If you were an executive who was downsized, you may be used to handing off computer work to underlings to perform. If you’re not computer savvy, you may want to take some training.
Home based franchise opportunities provide the opportunity for you to define your own work schedule. If golfing, fishing or skiing is a passion, make sure it’s not bordering on an obsession. Working from home still means keeping your nose to the grindstone. Temptation abounds in such a comfortable and familiar setting. Maintain your motivation at all times. Otherwise, you can sit in your Shrek pjs and survey your kingdom, safe in the knowledge that your secure future is in the hands of a professional.
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