A recent survey by the Small Business Success Index found that there are currently about 6.6 million home businesses in the U.S. that generate at least half their owners’ household income and employ 13 million people. Suffice it to say, there’s a lot of business going on at home these days.
The franchise industry has been an early facilitator of working from home, and the economy spurred a surge in home-based franchising in the last few years, since investment capital for startups was scarce. The lack of a large cash outlay at the beginning is one of the most attractive factors about investing in a home-based franchise, and the types of franchises that can be run from home have grown significantly.
While cleaning services were early entrants into home-based franchising, there are many other options, including fitness, pet services, travel agencies, sports leagues, photography, dry cleaning delivery, tutoring, children’s activities, custom closets, blinds, shelving, window cleaning, moving, painting, business services, lawn care and many more.
Most home-based franchises have a total investment of well under $100,000, which includes the upfront franchise fee, equipment, inventory and working capital. Some opportunities cost less than $10,000. Some of the low-cost options may be offered by new home-based franchises, but be careful before you invest and be sure you are comfortable with the risk of being a pioneer. Most franchisees pay for brand recognition and a track record of success; an experienced franchise broker can guide you through the decision-making process at no cost to you.
While home-based franchising still requires serious commitment and hard work, it also provides the potential for great rewards, since some low-cost home-based franchises have a high rate of return on investment.
If you want to learn more about home-based franchise opportunities, plan to attend our free May 24 webinar, Franchise Ownership as a More Stable Career Path. The webinar is free, but you need to pre-register, which you can do online by clicking on the linked seminar title.
You may also register by calling 866-246-2884.