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Is a Home-Based Franchise Right For You?

By: Bill Bradley

 

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Resources like America’s Best Franchises offers many different home-based franchises for you to choose from. Before you dive into these opportunities, we encourage you to evaluate whether or not owning a home-based franchise is right for you.

Owning a Home-Based Franchise

Life as the owner of a home-based franchise has a lot of benefits including working from home, lower overhead costs and increased flexibility. But is it the lifestyle for you?

Of course, daily activities vary depending on the industry you’re franchising in, but many home-based franchisees will tell you, there is no such thing as a “typical” day. Activities and routines adjust constantly. Regardless, you will be able to determine a schedule that works for you and your family. If you’re a morning person, you can start your day as early as you’d like and finish up when you’re ready for lunch or it’s time for you to pick the kiddos up from school.

If early rising isn’t your thing, you’ll be able to start your day later because there is no store or office for you to open up at a certain time. Owning a home-based franchise means having the scheduling freedom you just can’t get in a corporate career.

It Takes Self-Motivation

Like any business owner, you need to be self-motivated to succeed. But when you run a franchise from your own home, it can be really easy to procrastinate business tasks when there are other things to be done around the house. Being a franchise owner means that you keep your eye on the prize. That prize is a little different for everyone: retiring early, building a business to pass down, making a positive community impact. No matter what your goal is, home-based franchisees need to have the internal drive to work toward it consistently.

Because you work from home, you won’t be able to depend on a team of employees to keep you accountable. While you are ultimately accountable to your franchisor, on a daily basis, home-based franchisees have to be self-motivated to build and grow their businesses.

You Need to be Disciplined

As a home-based franchisee, your workplace won’t be a physical location. it also means you need the discipline to get every necessary task done in a day. Many franchisees, that aren’t home-based, have their hours set by the franchisor. As a home-based franchisee, you won’t have that strict guideline. You’ll have to balance that freedom with the discipline it takes to be an executive leader who connects with clients, manages a team and meets franchisor expectations.

Flexibility is Key

In every position you’ve held, you’ve needed some level of flexibility. That’s no different when you own a home-based franchise. As we said, there is no average day for a home-based franchisee. You will have lots of different tasks to get done during the day, but when you work at home, things like helping your kids with school and chatting with the mailman can interrupt the traditional workday. When you own a home-based franchise, you have to be flexible enough to bounce back and forth between work and life without missing a beat.

If home-based franchises seem like a good fit for you, explore the opportunities America’s Best Franchises has to offer.

Published: October 15, 2020
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Source: America's Best Franchises

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Bill Bradley

Bill Bradley is founding member and CEO of America’s Best Franchises, LLC.  Bill founded three financial services firms, Ocean Shores Ventures, Denali International and William Bradley Enterprises. In addition, to launching America’s Best Franchises in 2005, Bill orchestrated approximately 20 private equity transactions in excess of $31 million, and launched five specific purpose private equity partnerships.

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