If there’s anything positive that the Coronavirus pandemic has taught us, it’s that it’s perfectly possible to run all kinds of businesses from home.
Many of us have found that working at home gives us a better work-life balance. Eliminating commuting time gives us more time with our families and reduces our stress levels.
So if you’re looking for a way to be completely home-based – with the added freedom of running your own business, read on for some great home based franchise opportunities.
If you love the idea of working for yourself, the first step is to come up with a great business idea. But for most of us this can be a real challenge, and taking the plunge can seem too risky when you have a young family.
A home based business franchise can be the ideal solution, as it gives you a tried and tested business model, with advice and support to get you up and running.
Here’s how franchising works. Somebody sets up a small company and invests to build and establish the business. Once it proves to be successful, they realise that there’s the potential for someone to set up a new branch in a different area. The franchiser sells their brand and business model to the franchisee, and supports them to launch and run the new company.
There’s much less risk in buying a franchise business compared with starting your own from scratch, You’re buying into a proven approach that has worked elsewhere. You’ll also have support and advice from the franchisee, as well as detailed processes to follow. You might be one of a number of franchisees that network and share their experiences, too. Also, it is usual for franchises to restrict the number of franchisees trading under their name in each area, meaning you will have exclusivity in your chosen area of business.
There are so many franchises to run from home – visit our home-based franchising section for a flavour of them. They include professional services such as travel agent work, virtual administration, cleaning businesses, children’s activity classes, adult learning and many more ideas you won’t have even imagined!
You’ll also find testimonials from parents that are running a successful home based franchise.
Choosing a top five of home based franchises is very subjective, but to give you an idea of the types of franchise that can be run at home, here are five great examples:
You should find a home based franchise that will suit your budget. Many cost less than £10,000, with some just a few hundred pounds – while others can reach £20,000 and more.
Often you can gain a bank loan to get you started with a home based franchise opportunity. You will need to work with the franchiser to get projection figures and details, then approach your bank or building society about the loan. Read more on how to fund a franchise.
Whatever the type of home based franchises you’re interested in, the most important thing you need is time. You’ll need to be able to set aside a number of hours each day to focus on your business and get things going. It also helps to have a dedicated workspace where you can focus completely on the business each day. The great news is that there are a lot of franchises out there which can be run to your own schedule – and many which can provide you with a good income working part time as long as you are dedicated enough to make a go of it.
Before you take the plunge with a franchise business working from home, make sure you’ve explored every angle to make sure it’s right for you.
Here’s one thing to consider. While you might be starting a home working franchise to have more time with the family, achieving this in practice can be a challenge. Working from home can be tricky – especially if your children are at home with you.
Think carefully about how you will run a franchise business at home. Will you need to rely on family, clubs and childcare providers to give you the space to establish the business, and is that affordable in the early weeks?
Consider your personality traits and working style before comparing franchise opportunities. Are you easily distracted and will find yourself doing household tasks rather than getting to work? Or, alternatively, will you find it hard to switch off and stop work at the end of the day?
If you feel that you can overcome these hurdles, you’re in a good place to start looking for home based business opportunities. As you’ll see from the case studies on our franchise pages – it can be a life-changing move that will help you achieve your career and family goals.