Working from home or having a home-based business is on the rise. So many people are turning to self-employment or franchising as a way to gain more control over their life and to produce something they are truly proud of.
According to a report it shows 2.9m homepreneurs are delivering in the region of £40bn to the local economies. With companies seeing the benefit of outsourcing work the UK shows around five million freelance jobs created. In the US 43% of the American workforce work remotely and around 50% of small business are home based. Forbes says the rise of the solopreneur means increased interest in home-based franchise opportunities.
Franchising is when a company or franchiser grants the rights to their business model, products and/or services to a franchisee. All parties enter an agreement which covers using the companies methods, systems, brand and other properties to operate and grow their business. The Franchisee is supported by the company to support business growth and protect the business model.
The decision to become a Home-based franchisee offers the flexibility to run your business from anywhere.
Benefits to operating a home-based franchise
Making the decision to operate is a good one, although you do need to do your homework. Taking up a franchisee is a great way to get started. You have the advantage to use a proven system and/or business minimising risk and maximising on support. Franchises are not a guarantee of success but statistics show that Franchisees as a whole are successful. Coproate businesses such as McDonalds, Subway and KFC are some of the major franchises not only in the UK but across the world.
Let’s talk benefits
RENT & REDUCED COST
Running a home based business is overall cheaper. You say money on dedicated premises. You also save when it comes to the regular commute on such items as travel. If you choose a business that requires an office or you don’t have the space at home there are great alternatives too. With remote working and home-based businesses on the rise there has also been an increase in serviced office space. Rent single desks in a co-work environment or small 1 – 3 man offices (or larger). This means, in most cases, utilities, furniture, rates and so much more are included.
BEING YOUR OWN BOSS
Working from home is great but being your own boss in means the buck stops with you. You can enjoy the luxury of making the decisions and organising your own time and hours. You can manage a home as well as earn a living.
You can save time on communing not only saving you money but giving time back to you.
One of the best advantages is the ability to work anywhere. If you take on a business where this is possible you can work anywhere, even while sat on a beach in the Bahamas (now that’s an office!).
GET YOUR TIME BACK & TIME WITH LOVED ONES
Another huge reason why people are turning to home-working is being able to be more involved in our family & friends live as well as having time for us. Being able to manage school runs or school activities or just being there for dinner are massive up sides.
Tips for Success
Running any businesses is hard. What you think will take an hour will take three. Everything with a home-based business usually is dealt with by one or maximum of a few people. This means you have to be super organised.
You have to manage your time well, avoid distractions, and know your don’t slack off. Getting a franchise or business is easy. Getting that business established is harder, keeping it that way is even harder – especially if there is only you!
We live in an ever changing world and with technology assisting us to work more effectually and giving us control and opportunity working from home or for your self is more possible than ever. The idea of this style of career or job is very appealing and we think it is a great way to achieve a better work/life balance. With more businesses small, medium and large agreeing we see that this is only going to increase.
If you need help with a home-based franchise or perhaps you’re considering a Small Business Box opportunity, we have the skills and information to help. We aren’t biased and want you to get the best out of your life and future business.