Benefits of Franchising for New Mums
If you are a new mum looking to start work again, starting a home based franchise might be the best option for you. A massive 60 per cent of women change career following maternity leave, and it is easy to see why. From plenty of flexibility, excellent opportunities and reduced childcare costs, there are so many benefits of franchising, particularly home-based franchises for new mothers. In this article, we run through some of the main reasons franchising is an excellent idea for your next step on the career ladder.
Work-life balance
For many women, owning a business is the ultimate career goal. However, often starting an independent business requires long hours, extensive finances and time away from your family. Starting from scratch takes a lot of hard work and running a business while juggling childcare responsibilities can seem impossible.
However, work from home franchises for parents offers you the opportunity to work hours that suit you. It is even possible to run a home-based franchise on a part-time basis, allowing you to make time for other commitments and spend more time with your family.
Work around school hours
One of the most significant benefits of a home-based franchise for new mums is being able to avoid the commute. Working from home allows you to take your children to school or nursery and pick them up too. You are in charge of your schedule so you can plan to work during school hours, and without commuting, you have additional time to work on your business. Working only while your child is at school can help relieve some of the ‘mum guilt’ working mums often experience. Although it may seem like your child starting school or nursery is a long way off, we promise that time flies in! Starting your business now means by the time they are off to school, you will be fully prepared. Running a home-based franchise means you will have time to enjoy their early years too, spending time with other new mums or attending mum and baby classes and meetups – all while running a successful business.
Save on childcare costs
The average cost of childcare in the UK is more than £6,000 per year (according to The Money Advice Service). If you planned to return to work as an employee, this could significantly eat into your earnings. You may even have to weigh up whether returning to work is worth the cost of childcare when you factor in hours away from home, commuting, eating away from home and other things you may need for work, it might not make financial sense. Starting your own home-based franchise means you can be in control of your working hours and run your business while taking care of your children.
Low startup costs
While many women worry about how much it might costs to start a business, lack of savings or startup funds needn’t stand in your way. When you become a franchisee, you are buying into a proven business model. You will also have the support and advice from an experienced franchisor who wants to see you succeed. Most home-based franchises are not expensive, and you can easily find a franchise that suits your budget.
Access to finance
Starting a family isn’t cheap, and you may have used up your savings during maternity leave or while planning for your child. If you need access to finance to start your business, your lender will assess the risk involved in your venture. Many lenders prefer to lend to franchisees, as they are buying into a proven business model. Buying into a home-based franchise is more secure, as you will be provided with training and support, as well as having the goodwill that comes with an established brand behind you. Franchising is deemed to be less risky, which is good news for those looking to start a home-based franchise as it can be easier to access the finance you need to get started. To obtain funding from a lender, you will need to provide a business plan to your lender, which sets out your ideas, how you plan to achieve success and your current financial position. Buying a franchise can make this process simpler too, as you have many other businesses to model your business plan on.
It is possible to start a home-based franchise in a wide variety of sectors. Perhaps you want to work with children and always fancied teaching, why not start an education franchise teaching online? Are you interested in serving your local community? A care franchise might be the right option for you. With more opportunity than ever before, there has never been a better time to start your own franchise business.
Ready to start your home-based franchise? Browse franchise opportunities at Franchise UK.