One of the hardest elements of starting a business is location selection. For traditional bricks and mortar business owners, finding an area with the right foot-traffic that won’t cost you a fortune can be the difference between a goldmine business and a bankruptcy file.
It isn’t all doom and gloom for entrepreneurs however, the economic landscape is evolving rapidly and an increasing reliance on new technology has made working remotely more achievable than ever.
The good news is that more franchise brands are incorporating at-home and cloud-based models, allowing prospective business owners to start their own venture from the comfort of their living room.
If you’re short on space, but not on ambition, here’s three reasons why franchising from home might be your best bet.
Flexibility
Home-based franchising presents the opportunity for flexible working arrangements, allowing new business owners to schedule their work life around their current commitments.
Bricks and mortar locations, particularly those in shopping centres are locked into set trading hours, with the rigid hours of operation rarely accommodating for life’s daily surprises.
The ability for franchisees to schedule around school pick-ups, appointments and existing commitments makes the at-home model a perfect transition into business ownership for mothers returning to the workforce and semi-retired professionals.
Wedding coordination and decoration business Circle of Love is one franchise that has allowed new business owners to launch their operation from home.
The model provides franchisees with a ‘business in a box’ system, including a website, admin materials and established branding, with the model best suited to the home office.
Franchise partners can work their own hours, provided all appointments are kept and client requirements met.
Low overheads
Aside from elevated stress, finding a suitable retail lease can also be an expensive process, pushing the overall investment cost of a potential business well beyond an attainable figure.
Franchise brands that operate on a cloud-based or online format allow a franchisee to commence business without the need for a physical location, significantly reducing outlying and initial set-up costs.
Presentation and visual assistance business, PowerfulPoints recently launched a franchise model that allows entrepreneurs with strong communication and client-facing skills to operate their own business from home.
A team of dedicated designers take care of the production side of the business, meaning franchisees are able to focus on their core competencies of generating clients and sales, with no need for a physical premise.
Support
While at-home franchise models allow new business owners to operate on their own, some entrepreneurs may fear isolation from the network.
When assessing at-home opportunities, it’s important to seek a franchise that provides ongoing support either through dedicated structures, such as a 24/7 technical support team like that seen in photo booth franchise TAPSNAP or regular franchisee networking events.
Connection with your fellow franchisees, in addition to business and industry advice from the franchisor is critical to any new business owner’s success, however this is especially true for at-home operators.
To increase support, a number of franchise brands are now introducing online and cloud-based support systems, providing round-the-clock support to franchisees across the network. Be sure to ask a potential franchisor about the model’s mobile and online support systems.
Operating a franchise business from home can be a great transitional opportunity for first-time entrepreneurs, however it is important to remember that it is not without its challenges.
All franchise opportunities require dedication and a commitment to follow the franchisor’s strict regulations and outlet requirements, regardless of physical premise. If you are willing to set aside the investment, in both time and money and commit to a franchise business, consider if working from home is a model you are interested in.
Want to know more? Click here to view all available home-based franchise opportunties.