How to Get Started with a Home-Based Franchise
A home-based franchise may appear to be an easy-peasy way of starting a business. It can cost as cheap as $5,000 at the start for a minimum-investment franchise, in contrast to the huge amount you’d spend for a physical store. As a franchisee, you can enter practically any field you like, from tax preparation to from child care and more. You can take advantage of all the brand recognition and proven marketing strategies of a known business without leaving your own home.
Think it’s simple? Not really. Truth is, starting an at-home franchise can leave you tangled in a complex corporate contract and responsible for far more than you wanted. Besides, this is an investment, and to be sure that it’s successful, you have to research thoroughly and buy wisely, especially as you will be housing business in your own home.
Whatever the case, this is probably a life-changing decision for you. It makes no sense to start a business that you’re halfhearted about simply because it’s home-based. The good news is, franchising is created to work. Just look for the brand that fits you and your home like a glove.
The most critical point to consider here – even prior to checking out franchises – is whether or not you can work effectively at home. Note that working from home is still work in every way, and it won’t immediately offer you the freedom you might want.
Franchisees usually say it’s worth it, though it is quite a lot of hard work. If you’re easy to distract (think kids, your favorite TV show, etc.
Note that this is full-time work, and you might have to work long hours. Don’t expect your home-based business to expand if you consider it as no more than a side project. In fact, you can’t make any type of business grow or succeed if that is your mindset.
So before you actually start, ask yourself if you’re comfortable with the long hours. Are you even being realistic? Are you okay to work alone? Do you have space for an office at home? Do you have the funds required to pay for your start-up costs?
If you’re all set for these things, then by all means, begin checking out franchise opportunities. You have to do something you love, but do check with your local government whether or not your home is zoned for the type of business you have in mind. Besides, you’re likely going to stick with a business that you completely enjoy. When you’ve done that, visit various reputable websites that you can scan for different opportunities in your preferred industry.