Tips for Starting a Home-Based Franchise
Opening a home-based franchise may look like an effortless way to begin a business. It can cost as low as $5,000 in the beginning for a minimum-investment franchise,as opposed to the enormous amount you’d spend for a storefront. 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.
Sound easy? Maybe not. 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.
In any case, you’re likely making a life-changing decision. It’s nonsense to begin a business that you’re lukewarm about for the simple reason that it’s home-based. The good news is that franchising is made for success. You only have to find the brand that suits you and your home perfectly.
The most critical point to consider here – even prior to checking out franchises – is whether or not you can work effectively at home. Remember that working from home is still a job, and it won’t automatically give you the freedom you might be looking for.
Most franchisees say it’s profitable, but it demands 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. Do you even think it’s realistic? Can you work alone? Do you have enough room for an office or a working area at home? Do you have the funds required to pay for your start-up costs?
If you’re prepared for all these, then go ahead and start reviewing your franchise options. 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. After all, you can only succeed at something if put your heart and soul into it. As soon as you’ve done that, there are many reputable websites you can use to look for what’s available in your target industry.