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Is A Work From Home Franchise Business Right For You?
Written by: Candice ClemArticle Overview: If you’re interested in opening your own business, you should definitely consider the potential rewards of a business that would allow you to work from home. A home based business offers an amazing level of autonomy, and there are a surprising number of work at home franchise opportunities. In this article we will discuss some of the pros and cons of working from home as well as some of the available home based business franchises.
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Free Download - Hottest Small Business Opportunities For The Summer By Candice Clem |
Is A Work From Home Franchise Business Right For You?
If you’re interested in opening your own business, you should definitely consider the potential rewards of a business that would allow you to work from home. A home based business offers an amazing level of autonomy, and there are a surprising number of work at home franchise opportunities. In this article we will discuss some of the pros and cons of working from home as well as some of the available home based business franchises.
Pros and cons of a home business:
One major advantage of home based business franchises is that the initial investment required is typically much lower than a traditional franchise. Work from home franchises are usually in the $15,000-$30,000 range. You can occasionally even find a work at home franchise for as little as $10,000.
Another advantage is that a home based business has very few overhead expenses. Of course you will have to maintain a home office, but your chief operating tools will be things such as a computer, telephone or fax machine. If you choose to employ one or two people, there would, of course, be some payroll.
Home based business franchises require you to stock little to no inventory, which is advantageous because it alleviates the responsibility of keeping up with an inventory system.
Many prospective franchisees find the lifestyle associated with working from home to be the key advantage. There are a number of work at home franchise opportunities that only require a part-time commitment to be successful. This provides franchisees with a great deal of flexibility in their schedules and often affords them more time to spend with their families. This flexible schedule also allows business owners to conduct business at times that are most convenient for them as opposed to adhering to the traditional “retail-style” hours of operation.
However, working at home does have some disadvantages, too. There is staggered revenue potential associated with these types of businesses. Because there is no walk-by traffic, home based businesses are dependent upon a loyal client base for repeat business.
As the owner of a home business, you will have limited exposure due to municipal law, which prohibits home based franchises from maintaining “street signage” on residential properties. You can get around this restriction if your home has been zoned for commercial use, but for the most part your business’s exposure will depend on your ability to market it through various advertising media.
National advertising campaigns are not commonly associated with home based franchises. Normally, marketing the business is the sole responsibility of the franchisee, and this may limit the reach of your marketing campaign to your own town or city.
Finally, as a home-based franchisee, your business practice will be isolated. This can curtail the number of networking opportunities you will have. If you do not maintain an active and effective advertising campaign, you are likely to lose potential customers to any competitor who operates a street-front or retail business.
Available home based business franchises:
If you’ve weighed the pros and cons and decided that a home based franchise is right for you, you might consider some these franchise opportunities:
PosiGrip is a turnkey, home based franchise that offers its customers protection from dangerous slip-and-fall accidents. PosiGrip is a process that creates a tread design on almost any hard surface including tubs and showers. The process does not discolor or change the look or feel of floors or showers. It simply makes them safer. For an initial investment of $8,000-$10,000, you will receive training and support, national advertising and a complete marketing program. PosiGrip imposes no franchise or royalty fees on its franchisees.
Guard-A-Kid™ Child ID Systems is a franchise that allows the franchisee to choose working from home or from a mall kiosk. The services and products they provide their customers are essential for child safety. For example, a complete child ID and safety package that includes two wallet-size printed IDs, a large file-size ID and a CD-ROM containing all the child’s information in digital format is available to patrons. The initial investment for this franchise is $19,900. Your start-up kit will include numerous technological tools to ensure your success including a state-of-the-art laptop PC and an FBI-quality digital fingerprint scanner. Guard-A-Kid was included in Entrepreneur Magazine’s Franchise 500® list and was also recently named one of the top 100 new franchises by Franchise Market Magazine.
You can even work from home in the travel industry. For example, Cruise Planners is a nationally recognized cruise planning agency, and they were ranked number one in their category in Entrepreneur Magazine’s Franchise 500® for 2004, 2005, 2006 and 2007. The initial investment required for this home based business franchise is $20,000. Franchisees in this system enjoy training programs, marketing and advertising programs, exclusive lead and website programs as well as the highest commission levels in the industry.
Final thoughts concerning home based businesses:
The possibilities for entrepreneurs seeking a work at home franchise opportunity are virtually limitless. You can see the diversity in available franchises just from the short list above, and it is a short list. Many other opportunities exist.
If you’ve done your research and concluded that a home based franchise business is for you, you shouldn’t have any trouble finding a franchise to meet both your personal and your professional needs.
TEN FRANCHISES POISED FOR GROWTH
Franchising with all its Success
About 60% of all franchise opportunities have less than 50 units.
You Can Juggle a Franchise and a Family
Why Use a Franchise Consultant?
Article Tags: autonomy, business franchises, business owners, computer telephone, fax machine, flexible schedule, franchise opportunities, home based business, home franchise, initial investment, inventory system, opening your own business, overhead expenses, payroll, pros and cons, prospective franchisees, time commitment, types of businesses, working at home, working from home
Related Forum Posts
Try wikipedia.com for more information
- That depends what type of business you are involved in. Maybe if you share that, we can help you a little better.
I work mostly in the Work at Home industry so my advice would only be along those lines.
Books for Women Entrepreneurs
- There's a thread for good books in the Resources folder, but it doesn't target books for businesswomen particularly, so I figured I'd start such a thread here.
It doesn't matter how successful you are in your business - it's always possible to learn something new.
In subsequent posts I give Table of Contents and brief descriptions for various titles - most of them devoted to the businesswoman - and sometimes a review. If anyone else has read a review, or has read the book and found it useful, please comment!
1. The Old Girl's Network
2. Mother's Work
3. The 7 Greatest Truths About Successful Women
4. Pitch Like A Girl
5. Workplace Warrior
6. Treasure Hunt: Inside the Mind of the Modern Consumer
7. Contingency Planning & Disaster Recovery
8. She Wins, You Win
9. Napoleon On Project Management
10. Why Good Girls Dont' Get Ahead, But Gutsy Girls Do
11. Comeback Moms: How to Leave Work, Raise Children, and Restart your Career even If you Haven't Had a Job in Years
12. The One Minute Millionaire
13. Talking From 9 to 5
14. Soloing: Realizing Your Life's Ambitions
15. 101 Best Home Based Businesses for Women: Everything You Need to Know About Getting Started on the Road To Success
16. Work With Passion: How to Do What You Love for a Living. Revised and Expanded
17. Fail-Proof Your Business: Beat the Odds and be Successful
18. Confidence: How Winning Streaks and Losing Streaks Begin and End
19. Women Don't Ask: Negotiation and the Gender Divide
20. Millionaire Women Next Door: The Many Journeys of Successful American Businesswomen
21. Start Small, Finish Big: Fifteen Key Lessons to Start - and Run - Your Own Successful Business
22. Rewired, Rehired or Retired: A Global Guide for the Experienced Worker
23. The Martha Rules: 10 essentials for achieving success as you start, build or manage a business
24. The Essentials of Entrepreneurship: What it takes to create Successful Enterprises
25. Net Ready: Strategies for Success in the E-conomy
26. The Promotable Woman
27. Leave The Office Earlier: The Productivity Pro shows you how to do more in less time and feel great about it
28. The Work At Home Balancing Act: The professional resource guide for managing yourself, your work, and your family at home
29. Secrets of Six-Figure Women
Re: Enticing Franchises - Top 9 List
- All Franchise listed above are in millions of dollars. Do you have the list of Franchise in thousands
Re: Info for would be franchisers...
- [quote="Sebastien":1d29sdv1]Like Franchise Times, Franchise Update is a very practical magazine. There is no blah blah, just straight facts that anyone in the franchise community can relate to. I just want to mention that all these magazines are NOT franchisee oriented. I mean these magazines are for franchise professionals. If you're looking to buy a franchise, you won't find much information in there.
To answer your question, getting published in Franchise Times was fairly easy. I don't want to brag too much but I think I am known in the franchise industry. I was the marketing guy at Franchise.com for a few years before joining my new company, the World Franchising Network. So people know me and I have a very good relationship with Nancy Weingartner, the Managing Editor at Franchise Times. I was talking with her at the last Franchise Expo South in Miami and she mentioned she'd like me to be profiled. I was like "ok, sure!". I like this franchise executive profile thing in Franchise Times as it is rarely BS. People are usually really natural in there.[/quote:1d29sdv1]
Thanks for the follow up Sebastien! And I can't say that I'm surprised that networking with the right people and managing your relationships with them properly are the keys to being published.
I guess the old adage holds true of "it's not who you know, but who knows you" that's important.
Re: How do you budget your life?
- Here is my financial management categories for today:
15% Long Term Savings;
10% Home Expenses;
45% Business and Marketing charges;
10% Friends (Meeting);
20$ Scientific and Law Books.
But this will change when it is August or September.
Orxan
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