If you follow developments in the corporate world, you will know that the working world as we know it is changing and that people are no longer content to work strictly within the confines of the 9-5 world. This partly explains the rise of home-based franchising in the last ten years.
So it will come as a surprise to no one that home-based franchising is bigger than ever before. A new report from Emergent Research, covered on Allbusiness.com, provides a pretty clear portrait of the size of the industry:
There are currently about 6.6 million home businesses nationwide that generate at least 50 percent of the owner’s household income. These businesses employ over 13 million people; 35 percent of them generate more than $125,000 in revenue, and 8 percent generate more than $500,000.
Franchise attorney Ken Hestenbaum explains the trend like this:
“More franchise companies have gone to the home-based model, when possible, since the tightness of the credit market has made selling the big-box franchises very difficult. The home-based model opens up the opportunities for prospects with lower budgets, which is a good thing.”
It's a really important development in franchising. We recommend you read the story today.