Home Based Franchises: How To Do It Successfully

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home based franchise

Originally posted on 04/09/2017. Updated on 21/03/2019.

While working from home has the obvious benefits of being easy, convenient and flexible, dont assume that home-based franchises are an easier option. There are countless opportunities out there to start your franchise business from the comfort of your living room, but you still have to work hard to ensure its a success.

Still, according to the TUC, working from home is an increasingly popular choice, with nearly a quarter of a million more people working from home than they did ten years ago. Government research reveals that a further four million UK workers would like the opportunity work from home, but employers are not moving at the same speed as employee demand.

So, it should come as no surprise that more and more people are considering home-based franchises as an alternative business ownership option. Working from home not only allows more franchisees to become part of the franchise industry, but it also enables franchisors to develop their businesses more efficiently.

Any business that does not require office or retail space can be adapted to suit a home environment, and with technological advancements meaning that the majority of the UK population has access to the internet at all times (as a result of improvement in smartphones and high-speed broadband), there is scope for anyone with access to an internet-connected device to become a franchisee.

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Which franchises can you run at home?

  • Child-related franchises - There is a wide range of franchises involving children. From a personalised book retailer with a minimum investment of £999 to a performing arts franchise with a minimum investment of £12,000, there are plenty of opportunities to get involved in. If you love the idea of working with little ones, there has never been a better time to get involved, as the demand for new ventures at an all-time high.
  • Cleaning franchises There is a wealth of franchises available in the domestic and commercial cleaning services industry, with minimum investments varying from as little as £1,000 up to £29,997. One of the best franchises in the industry at the moment is the award-winning Nationwide Cleaners, with a minimum investment of £4,000.
  • Education franchises With parents becoming increasingly willing to pay to improve their childrens grades in school to get them set for exams, there is room for those with relevant experience in the far-reaching, heavily debated and emotionally charged sector to have a go at starting an education franchise.
  • Internet franchises Unsurprisingly, as mobile apps, gaming and social media continue to rise in popularity, there are a whole host of IT franchises available. Minimum investment starts from as little as £450 as all thats required to hit the ground running is a laptop and a decent internet connection.
  • Photography franchises This is a great chance to turn a hobby into a money-making franchise based at home. Whether its setting up a portrait studio in the spare room or going on the road with a mobile photo booth, if youre passionate about photography, there will be a franchise to suit your requirements.

Its easy to see the appeal of basing a franchise business at home, so lets take a look below at some of the advantages and disadvantages of this option in more depth.

Advantages

Achieving a work-life balance Running a franchise can provide the flexibility that many people, and particularly parents, long for. This flexibility is even more accessible when the franchise business is run from home. Without the dreaded commute to work and with the ability to fit work schedules around the family, achieving a healthy work-life balance is much more feasible.


Lower investment Although a home-based franchise has the same costs and fees as a traditional franchise, the investment can be significantly lower. In comparison to setting up and maintaining a shopfront location, a business with no set premises can be more affordable.


Disadvantages

Time management As with any home-run business, it can be difficult to ignore the myriad of distractions that working from home can create, such as weekly chores and playing with pets. The key is to set a schedule on a weekly basis - allocate time for work and time for home-life activities and be realistic with how long you need for each task.


You need the space to work For the times when youre not out on the road meeting clients, its important to have a space in the home thats dedicated to work. This doesnt have to be an established office space but having somewhere quiet where you can work in peace with minimal interruptions can enable you to run your business more effectively.


Potential income restrictions If youve chosen a home-based franchise so that you can run a one-person business, your growth ambitions may be limited. This may suit your needs when you start out, but when you choose your franchise, make sure that expanding your business is possible when youre ready to grow.

Its clear that home-based franchising does have some obstacles which need to be addressed and overcome if youre going to become a successful franchisee. Therefore, its essential to consider whether this franchising route will work with your personal situation, skills and ambitions so that you can make the best decision for your business.

Finally, dont think that because home-based franchises are more likely to require a lower investment, that this makes them less risky. This is certainly not the case. They may cost less money, but they are subject to the same risks that some more expensive franchises are exposed to. However, if youve researched the opportunity well, a home-based, low-cost franchise is a commercially savvy way for you to own your business. Lower start-up costs and ongoing fees can often lead to a business achieving a profit more rapidly. This is just one of the many benefits that choosing to run your franchise business from home can provide.
 

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