Are you currently working from home and dreaming of running your own business from it?
Have you recently returned to the office and hanker after being your own boss running a home-based company?
If your home is your happy place, then running a franchise from it could be just the thing.
You could create your own supplement business from your front room, and outsource the necessary co packing companies to create the best products! It is now easier than ever to create a business from your home.
The COVID-19 pandemic led many of us to reevaluate our circumstances and pursue long-held ambitions that could previously never be put into place from a practical or financial perspective.
With so many franchise opportunities that can be operated from home, now is the time to consider a change.
You can utilise your own unique knowledge and skill set to run the business you have always wanted to, or take an entirely new direction in life that will enhance your work-life balance.
Many of the services and items we buy every day are operated by individuals operating under a franchise model, and many of them can be run from home.
Business models for home-based franchises
There are many lifestyle and business benefits of running a home-based franchise.
If you run a business from home, you’re right in the heart of your customer base, you already know their needs and can easily listen to them.
Plus you can serve local communities quickly and directly and offer a tailored, personalised service.
There are actually very few limits to the types of business that you can run from your own house.
If you can provide something that people want there will be a franchise opportunity for it.
Most franchise businesses require relatively modest investment sums meaning you can set up quickly and efficiently – running a company from your kitchen table if need be.
In the UK, there are three main types of franchising models – business format, investment franchise and conversion franchise.
It helps to think in these terms if you’re considering a franchise because each type offers opportunities for the home-based entrepreneur, you can select the model that’s best for you.
Business format home-based franchising
The business format is the most popular type of franchise.
The franchisee gets to use the franchisor’s trademark plus plans and procedures for operating the business.
You tap into an established brand and will be responsible for the day-to-day running.
This means that it’s an ideal model for first-time entrants and smaller investors to be able to run a business from home.
The types of home-based franchises that are often run in this type of format are:
● Business services, e.g. consulting
● Training and educational provision
● Fitness and lifestyle services
● Trades people and home maintenance Cleaning and renovation services
● Domestic, personal and care services
● Parcel and courier services
● Direct selling
● Printing and graphic design
● Automotive services
● Baking and catering providers
That list is by no means comprehensive.
Theoretically, any operation that has a brand and is willing to allow investors can be bought into.
Investment franchises for home-located entrepreneurs
Investment franchises for sale UK and globally tend to be projects on a bigger scale, often with considerable capital investment.
Typical examples include hotels, large restaurants, gyms and play centres for children.
The franchisee will often have little involvement in day-to-day operations and will usually appoint a manager to do this.
The franchisee tends to operate in an ownership capacity.
This of course can be done from home. High investment franchises are often not suitable for the enthusiastic home-based individual whose capital reserves don’t entirely match the scale of their ambition.
However, it can still be a route for you to consider.
Conversion franchising for the at-home entrepreneur
Conversion franchise models operate by taking an independent business into their portfolio.
This is a really interesting type of format for established business owners keen to speed up their growth.
This route would allow you to set up in a new geographic location, or a new but related field, for example, without the requirement for sizable start-up costs for the new operation.
The types of home-run businesses that could benefit from considering a conversion model are:
● Plumbers, electricians and gas engineers
● Grounds maintenance, construction and landscaping companies
● Professional service providers
● Home care providers
● Cleaning services, janitorial services and washroom services
● Mobile hairdressers
● Corporate event planning
● Travel agents and advisors
● Innovation and franchising
The key message if you’re considering starting up a business from home is that with a franchise you will be buying into a proven business model, with options to suit start-ups and those operations that are looking to grow.
Not only that but in many countries, such as the UK, there are a number of schemes which help to identify qualified businesses and tradesmen.
Which? Trusted Traders are one example, and are actively getting involved in the franchising industry, with a badge of recognition displayed on franchisees vans, the kudos is phenomenal.
Whatever skills, experience, ambitions or ideas you may have, there almost certainly will be a franchise out there that matches them.
To run a business from home these days, all you need is a telephone and an internet connection plus a space to operate from that works for you.
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