Home-Based Franchises
Though most people think of franchises in terms of stores and restaurants, but there are plenty of home-based opportunities available too, such as computer consulting, pet care, financial services, cleaning etc. Some may require specialized equipment, like a van with the company logo.
There are pros and cons to running a business from home. An obvious advantage of a home office is the possibility of tax deductions -- your accountant can determine what is applicable to your situation. One sensitive issue is whether you can separate your business life from your personal/family life. It’s easy to fall into a routine of never being “off work” when you’re based at home, so to maintain a healthy lifestyle, you should draw boundaries between work and home.Set up your office where it is separate from the distractions of children, pets, television screens etc. Let family members know that you are working when in you’re office and should not be disturbed unless it is urgent. Establish a regular schedule for yourself, with breaks to stretch, eat lunch, work out or attend to domestic tasks. You’ll be more productive if you stick to an established work schedule.
Since working from home can be isolating, reach out to other franchisees and home-based business operators in your area. It’s a great way to network -- you’ll get useful tips and maybe even some new customers.
The first thing you must find out before buying a home-based franchise is whether your town permits a business to be run out of a home. Make sure your business operation will be in compliance with any applicable zoning laws, and be sure to get whatever permits are required.
Next, you’ll have to think about the equipment you’ll need. Some franchisors provide the equipment, which might be specialized tools, such as those used for home repair or landscaping maintenance. The franchisor may also provide a computer with customized software for the business. But you may have to outfit your own office from scratch, and it’s probably helpful to talk with other franchisees in the business to find out what items are essential and most practical – notebooks, a pager, stationery, business cards, multiple phone lines, broadband Internet, etc.
Working from home has its rewards as well as drawbacks. If you can stay focused, ignore distractions, and keep to a schedule, it could be the right option for you.
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