A guide to home-based franchises
Many people dream of working from home and escaping the workplace. Working from home offers more freedom and flexibility, allowing you to work to your own schedule. However, setting up a business from home can be a difficult task. There are many different areas to consider, and it can be time-consuming and expensive to design an efficient business plan. This is where franchising at home comes in. Having a home-based franchise allows you to work from home and be your own boss. Continue reading this guide to learn more about home-based franchises.
Home based franchises
To put it simply, a home-based franchise is a business that doesn’t require a fixed premise such as a retail unit. Many home based franchises involve mobile work, such as consultancy, gardening and fitness services like yoga. The popularity of home-based franchising is on the rise. The number of UK workers who have transitioned into remote working has risen by nearly a quarter of a million over the last decade. This is largely due to the freedom that comes with running a business from home. Eliminating commuting times means workers can easily manage a work and home balance.
There are many different types of home-based franchises available in the UK. Some of the most common types involve education, such as tutoring franchises, computer franchises, such as web development, and admin support franchises. You could open a franchise offering cleaning services, pet grooming, travel planning; the list is ever-growing.
How to start a home-based franchise
4 out of 10 UK franchises are home-based or have the potential to be home-based. This means that there are plenty of opportunities available to become a franchisee from home. If you think starting a home-based franchise is right for you, then you first need to look at your options. It is essential to look for a business that centres on something you enjoy and are passionate about. If you are struggling with this, think about the businesses you use regularly and trust, to see if they have any franchising options. Make sure you research to ensure you are able to start this kind of business from home.
When you’ve settled on the right brand, think of important questions to ask the company. The franchisor should provide you with a legal document detailing all of the information about the franchise, to help you make the decision of whether to join them. It’s important to understand all of the conditions before signing anything. Ask the company if they offer startup tools and if they offer continuous training. Make sure you ask what travel is involved, and whether the franchise will teach you how to target clients.
The home based franchise benefits
There are many great benefits that come with opening a home based franchise. Firstly, they are cheaper to buy and run than traditional franchises. There are generally lower franchise fees, one-off overheads and marketing capital. They are also cheaper to run as you don’t have to pay rent and bills for a physical location. You may also not need to hire staff, which will save even more money.
Another advantage is that franchises are already well-established businesses. This means that you don’t have to spend the time and effort looking for new business ideas and finding a target audience. Becoming a franchisee means that the hardest step is already done.
Freedom and flexibility are a huge advantage of home-based franchising. You can work on your own terms, and be flexible in scheduling your work hours, balancing with your social life. For this reason, work from home parents franchises can be ideal for parents looking after a young family. It provides a steady stream of income while allowing you to stay at home.
Other things to consider
While there are many benefits to home-based franchises, it is important to consider any challenges you may come across before signing any agreements. Firstly, some people find working from home difficult as they are unable to separate their work life from their home life. There is an added temptation to work extra hours and a struggle to sign off.
Another thing to consider is that you may need to take out business insurance, as your home insurance may not cover you. If you are having customers visit your home, you may need public liability insurance.
If you need to change elements of your home for your business then you may require planning permission. Furthermore, you may need to pay business rates instead of council tax on the property. You may also need to carry out a health and safety risk assessment.
If you dream of working from home and are up for the challenge, then opening a home based franchise business UK may be a great option for you.