The Benefits of a Home-Based Franchise

Benefits of Home-Based Franchises Include Low Startup Costs and Work-Life Balance

One of the many benefits of owning a franchise is that you may have the opportunity to operate it from home. Home-based work is becoming increasingly popular as more people rethink their careers and value a work-life balance. Whether you are a mother who needs schedule flexibility to care for your family or you’re a corporate employee who is tired of the 9-5 grind, there are great benefits to owning a home-based franchise.

There is no longer a stigma towards working at home in this technologically advanced world. Workers are searching for “home based franchises for sale” and “home-based franchises under 10k” for their next venture. There are 32.5 million small businesses in the U.S., and about 19 million of them are home-based, according to the U.S. Census Bureau. The trend of working from home doesn’t seem to be slowing down. Home-based franchises have many advantages, such as:

Low Overhead and Startup Costs 

When you operate one of the many low cost home-based franchises, you don’t have to worry about paying for additional rent or buildout costs that come with a brick-and-mortar franchise. Many of the top home-based franchises have lower requirements for working capital and more affordable entry fees. About 44% of home-based businesses can be opened for less than $5,000. This is great for those who don’t have access to capital.

Many of the best home-based franchises also don’t require a lot – or any – employees. According to the Small Business and Entrepreneurship Council, over 60% of home-based businesses don’t require any employees, which lowers labor costs.   

No More Commuting

A common complaint of many workers is that the commute is the worst part of the day. It’s unfathomable to think of all the time wasted sitting in traffic. But that all goes away with the top home-based franchises. Not only will you save a lot of money on gas, but you can spare yourself from the stress and headaches that are all-too common for commuters. 

Tax Benefits

Home-based franchises allow you to offset certain costs as business expenses. For example, some of your utilities, such as your phone and internet, can be charged as a business expense. To ensure you’re getting the maximum tax benefit from your home-based business, consult with an accountant. 

Schedule Flexibility

A major reason why you may be looking to buy a franchise in the first place is that you’re sick and tired of the 9-5 grind and want a more flexible schedule. When you operate a business from home, you are in control of your schedule, which allows you to decide how much work you want to put into the business. Do you want to run it full-time or part-time? Depending on your lifestyle, you may want more time to spend caring for a child or an elderly loved one, which is more manageable while.

Endless Opportunities

There are many industries that have become more prevalent in home-based franchising. These include:

• Senior Care
• Computer Repair
• Personal Fitness
• Child Care
• Accounting
• Medical Billing
• Pet Services
• Home Services

The opportunities to run a home-based franchise are endless.

Is a Home-Based Franchise for Me?

To determine if owning a home-based franchise business is for you, speak with a Franchise Consultant. This professional will help you determine if franchising is the right path for you based on your financial situation, lifestyle and more. A Franchise Consultant will recommend potential franchise investments and let you know if you are a good fit for the business.

With a Franchise Consultant’s assistance, you will read through the Franchise Disclosure Document, be prepared with questions to ask at discovery day, and more. The job of a Franchise Consultant is to make the discovery process as straightforward as possible. 

Benefits of a Home-Based Franchises

A benefit of franchise ownership is being able to own and operate a business from home. This can help franchisees achieve a great work-life balance. With a home-based business, you enjoy lower overhead and startup costs, no longer have to commute, get tax benefits, and have great schedule flexibility. To get a better sense if franchise ownership is for you, strongly consider speaking with a Franchise Consultant.