If you aspire to be your own boss but lack the finances, knowledge and confidence, then operating a home-based franchise could be the best direction to fulfil your entrepreneurial dreams.
There are many benefits to investing in a home-based franchise and there are a plethora of industries that offer this kind of opportunity.
Other than the benefits of investing in any franchise model; such as ongoing training and support or being part of a proven business model. If you desire a simpler work-life balance and flexibility, then these are just some other benefits to being part of a home-based franchise:
- Low initial investment cost
- Low overheads
- Able to manage demands of family and personal life
- Even whilst at home, you become part of a network and community
- Freedom to travel or work remotely
- The chance to achieve a healthy work/life balance
The beauty of breaking into the home-based sector is that you can choose a sector that you’re passionate about that has a healthy and stable market and customer base.
Here are some home-based opportunities that are on offer:
The pet care industry caters to a huge market, with 45
However, the concept of home-from-home pet boarding alternatives
Operating through a recognised franchise name also gives customers the peace of mind that your home-boarding business will meet the high standard of care they want for their beloved pet.
In today’s world, there’s an app for everything, and the tech industry shows no signs of slowing down.
Building mobile apps for local businesses is a big market, with many entrepreneurs lacking the technical skills or time to set up their own.
If you’re considering owning an internet-based franchise, but you have no design or technical experience, training programmes and one-on-one mentoring offered with franchise packages can help you overcome these barriers.
Speak to other franchise-owners, especially ones that lack initial technical experience and skills, and gain a broader understanding of what support each franchisor offers before you decide which franchise is right for you.
Some entrepreneurs may not be suited to working in solitude, but just because your business is home-based, it doesn’t mean you can’t still be client-facing. Setting up a tutoring franchise allows you to interact, as well as support and develop children’s academic level, giving you a sense of personal fulfilment too.
Securing a job within a successful company is a lot harder for current students; there are limited graduate openings and high competition from the increasing numbers of alumni. In today’s education system, children are taught from a young age how important hard work and high grades are in order to achieve success.
The tutoring industry in the UK has grown to £6 billion, with one-in-four school children across the country booking extra private tuition. The industry is forecast to increase over the next decade, making it a healthy and stable sector to break into.
Some franchise opportunities may be more managerial-based, which again offers you the flexibility to operate from the comfort of your own home. The cleaning industry contributes more than £24 billion to the UK economy, with over 700,000 employees working with the sector.
Growth in the industry is expected to continue; however, high revenue means fierce competition. Opening up a cleaning business on your own could be risky, especially in an industry that has high staff turnover figures.
There are also more specialist services within the cleaning sector that you could consider, such as oven cleaning or beer line cleaning franchises, that could capitalise on a niche market. However, these van-based opportunities may mean you have to spend time out on the road.
Ultimately, you should weigh up the pros and cons of each franchise opportunity and consider what business model will suit your aspirations and lifestyle.