Home Based Franchises


Home Based Businesses – Are they right for me?

Excerpts from “Home Based Business Resource” –  www.business.gov

Introduction

When you realized that you are just not going to be able to open your own McDonalds, because it will take a million and a half dollars, it is time to look for alternatives.
You may want to start more basic, with a home-based business. According to www.business.gov:

  • 90% home-business owners said “they would go into business again”
  • 78% home-business owners stated that “having more control over their lives
    was an important reason”
  • 46% home-business owners cited that “making lots of money was a motivation
    for starting their own business”

Advantages of a Home-Based business

  • A flexible schedule
  • Integration of family and work responsibilities
  • Less involvement with others in a regular work environment, such as power struggles
    and red tape
  • No commuting time (unless you travel to a customer’s home or place of business)
  • Control of your own personal environment (temperature, light, work breaks, etc)
  • Self-determination and independence; increasing personal fulfillment
  • Seeking and setting personal goals
  • Enhancing creativity
  • Remaining in a community or moving with a spouse to a new community even when jobs
    are scarce or not available

Disadvantages of a Home-Based business

  • Needing to know a lot of information to operate a business successfully
  • The risk involved in operating a business
  • Conflict in ownership of time (when is it my “own” time and when is “business”
    time?)
  • Lack of guaranteed employee fringe benefits
  • Many competing roles and responsibilities (producer, promoter, bill collector, customer
    service representative)
  • Lack of job security
  • Loss of home space use by family
  • Interruptions
  • Lack of self-discipline
  • Little opportunity to delegate tasks to others
  • Long hard hours
  • legal requirements including zoning regulations

Choose a Franchise Home-Based business to reduce the risks:

  • Specialized Employment like senior care, maid services, commercial cleaning or tutoring
  • Business Coaching
  • Financial Services – Credit consolidation, Credit repair or Expense (operating cost)
    reduction
  • Repair Services – glass, leather, furniture, floors, disaster, bath and cabinets
  • Home Decor – blinds, carpets, paints
  • Advertising – digital, publications
  • Security Services

“Can You Live Where You Work… and Work Where You Live?”

A unique situation occurs when a business is operated out of the home. Conflict
can result from the infringement of the customer/business interaction on family
functioning. A family and business does not integrate successfully in the same space
without some planning. Five areas of family functioning are likely to be affected.

  1. Family cohesion. Can your home support space for both business and family?
  2. Personal and family time schedules: Can you set up parameters for business
    schedule and family schedule?
  3. Use of space: What type of space is needed? Office space? Storage space?
    Equipment? Confidentiality? Living space? Space separations must be maintained for
    deductions as business expenses for tax purposes. One must determine if this part
    of the house has too many uses that are part of the pattern of your family’s
    life to also be used in the business.
  4. The Neighborhood: Will the activity of your business violate any city ordinances?
    Be inconvenient for neighbors?
  5. Risk handling behavior Is your family willing to take financial risks and
    changes in your life? Or are you risk adverse and desire a more secure environment

The most challenging business tasks include:

  • Marketing to gain additional business;
  • Time management
  • Financial record keeping
  • Avoiding overhead when possible
  • Assistance in managing varied responsibilities

The information from this article can be found on www.business.gov
Excerpts from
“Home Based Business Resource”

After reviewing the information above and if you are still ready,
check out the following website with a large list of quality
Home Based Business
Opportunities


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