For many people, home based working was a dream, realised during the COVID-19 pandemic of 2020 and 2021. Many businesses continued to stick to home based working, either in part or in full. It should come as no surprise that if one was asked to go back into the office after such a duration of home working, it would be challenging. Perhaps you’ve made a habit of walking your dog, or picking your kids up from school – or maybe you didn’t have kids before, but you now do! There are many advantages of home based franchises, so read on to learn more.
Home based franchises are fantastic opportunities to be your own boss. You’ll be running your own business in an environment you’re comfortable with. Becoming a franchisee comes with its own benefits, some that are mutual with other franchise types, and some benefits unique to home based running.
Let us take a look at some of the benefits of home based franchises. The infographic above summarises these points.
1. Home Based Franchises are Affordable
One of the main advantages of home based franchises is their affordability. Everyone will have their own definition of affordable. For some, it might be cheap franchises under £5,000. For others, it might be anything less than £25K. Depending on the business model, there are various types of home based businesses. You might even consider van based franchises to be workable from home. If the admin side is your responsibility as well, then some of your time running the van business, will in fact be operational from an office. But even van businesses like oven cleaning, lawncare etc, – these will usually cost no more than £25K and the van may even be included, or loaned.
Home based businesses with limited equipment will usually only need a laptop and a phone. Some home based businesses may allow you to work anywhere!
2. Home Based Franchises are Flexible
If you’re looking for a franchise that offers flexibility, then by reading about home based business ownership, you’re already on the right track. One of 8 advantages of home based franchises is the flexibility they offer. Working from home gives you the flexibility to work as and when you can. Work 12 hours, work 6, but like everything in life, the more you put in, the more you’ll get out.
With a home based franchise, you’ll be able to fit your personal life around the business a lot easier. Take half an hour to take your kids to school or pick them up, spend a couple of hours with them and make up for it when they’ve gone to bed. Perhaps you want to work from the beach, so long as you’ve got an internet and a laptop, you can work anywhere.
3. You Own The Business
You’ll be buying the rights to trade as the franchisor’s brand. Although there will be documents in place and rules that need to be followed, these are for the better. Marketing guidelines ensure that all franchisees carry the same message, the bigger the franchise network, the more powerful the delivery of the marketing.
Provided that you follow the franchisor’s system of operation, the business is still yours to control and you will still have plenty of flexibility. Once you’ve built up the business, created a strong brand recognition in your local area, you can later sell. But we’ll save that for number eight.
4. You’ll Get Full Training and Support
No doubt one of the biggest advantages of home based franchises, and the reason so many people choose to invest in a franchise rather than start up alone. When you become a franchisee, you’ll have the knowledge and brand power of the franchisor. Obviously find out exactly what training and support is included, but all franchises will offer at least some level of training and ongoing support. This will usually be included as part of the initial investment. There may also be an ongoing fee, usually a percentage of your turnover, to cover the franchisors time and costs.
Full training will usually either take the form of an online course, or maybe residential training, or on the job training with another franchisee. This training might be anyway from a few days to several weeks.
Regardless of whether you’re investing in a home based franchise or an automotive one, it is in the franchisor’s best interests to provide the best possible training and support.
The franchisor will want you to succeed. If the franchisor takes you on as a home based franchisee, you’ll be a part of their franchise network and if you fail, it can have consequences for the entire network. So that is why the franchisor will be committed to providing you the best levels of support. And just remember, you don’t get that with a sole startup. With franchising, mistakes have already been made, so you don’t have to make the same errors – which can have huge financial consequences. Home based franchise training can take teach you about:
- Marketing strategies and how to follow the brand guidelines
- How to manage your staff (if you have any)
- Management of your finances and accounts
- Ongoing support will usually help you to implement new practices or strategies, together with other franchisees, packing a bigger punch
It’s important to consider the franchise investment not as an expense, but a plus, in that it will be used by the franchisor to maximise your potential.
5. The Earning Potential is Limitless
There is a stark contrast which becomes apparent when you are your own boss. A contrast between employment and business ownership. When you’re in direct control of your business and its success, you feel a lot more determined. The contrast of your success Vs. your boss’s success.
When you are your own boss, there is absolutely nothing stopping you from putting in extra effort, extra work, extra time. The only thing stopping you is the length of the day. Do you want to take on more clients and maximise your schedule and therefore, maximise your earnings? It’s possible with a home based franchise. Remember, you’ve made extra time in your day by cutting out the commute. You’ll be saving on fuel. Perhaps you were earning minimum wage before. But with a home based franchise, there will be new opportunities and rewards to reap.
6. You’ll Be In Familiar Surroundings
Many people find working from home easier because it is in an environment they can recognise. Perhaps you love the idea of being able to walk into your garden for your lunch break. Or flick on the TV within minutes of ending your day. Mentally, some may also find it easier to come up with new ideas. But there is also the risk of distraction, but there’s no reason why you can’t set up a designated office space and separate yourself from these distractions.
7. You Will No Longer be Commuting…
…at least not first thing in the morning and last thing in the afternoon. Maybe there will still be an element of using your car. Perhaps part of your responsibility will be meeting your new clients. But just remember, it’ll be on your own schedule, now that you’re a franchisee. When you’re not meeting clients, you’ll be saving hours of time which would have otherwise been lost travelling to work. Precious time which you can now utilise for a lie-in, or taking your kids to school. Perhaps you can try that new home baking recipe you’ve always dreamt of doing but never found the time.
Just think back to COVID and all the time you can regain by working from home.
8. A Business You Can Later Sell
The advantages of home based franchises don’t stop there. Many franchises boast fantastic turnovers, some more than others. Some might earn you similar to what you’re earning now, whilst others may be considerably higher (the sky’s the limit when you put in more). But don’t forget, once you’ve established the business, built up the territory brand recognition, you can later sell the business. Franchise resales are popular due to the turnkey nature in that everything is in place. The clients, the marketing, the website and the localised business structure. When you’re ready to retire, sell the business and relax.
Home Based Franchise FAQ
Looking to run a business from home? Check out these frequently asked questions.
Many franchises can be run from home. Internet based businesses are the ones that first come to mind, but many franchises can be run on a management type basis. This means, you manage a workforce of staff who do the work, whilst you enjoy running the business in broad oversight from your home office. Back to the question at hand, with this in mind, many businesses – from cleaning to windscreen repair – can all be run from home, if a management type setup is employed.
The profitability of a franchise depends on your own input. Owner operated oven cleaning franchises can easily turnover £1,000 a week, doing 5 days a week of work at £200 per day (equivalent of 3 cleans per day), and the same manner can be applied to home based franchises. The more you put in, the more you’ll get out and for most franchises, £1,000 a week is easily achievable. So yes home based franchises are profitable provided you put the effort in.
Generally rules around territories are more relaxed when it comes to home based working, especially internet businesses. However for management franchises you will still be required to operate within a territory so your services do not conflict and encroach on other franchisee’s clients.
There are many fantastic benefits of being your own boss, coupled with the flexibility of home based working. Why not check out some of the below hot home based franchises?