Nowadays, it’s so easy to connect with people on so many levels. The world has become a much smaller place with the advancement in technology. Between social media, the internet, text message and Skype, communication has extended beyond anything we could have ever imagined.
We can reach out to businesses on different platforms at any time of day. This access to communication has changed the world of business in a variety of ways. This advancement has allowed the economy to take up space in different locations, including the home.
With families working full time and commutes to and from the office taking up the majority of people’s workday, the benefits of working from home have become an idealistic situation for a lot of business owners. The American family wants to reclaim their personal time and be more available to their loved ones. Of course a franchise provides a better work life balance but a homebased service allows a franchisee to be more committed and stabilized within their household.
There are many benefits from running a homebased business; clearly the time not wasted traveling can lead to more time spent on productivity while also allowing more time for family.
From a franchisor’s perspective, one of the most consuming costs is location and office space. In the case of a home business there is not office space to rent nor a building to construct. On the downfall, you may have to provide your own office supplies, which may seem minute in the grand scheme of things but it can all add up. Before investing in a home base franchise, speak with the franchisor regarding expectations and costs. It’s important to understand where your startup fees are allocated and what is necessary to run such a franchise.
Compare and contrast what you would be spending on location including rent and bills, as well as transportation costs compared to living at home. It’s important to consider how much would be expected from you outside of the home and how a certain franchise would fit into your lifestyle.
Would being at home mean that employees would have to be within your space at times?
If so, is that infringing on your privacy?
Do you like the idea of having your office within the comfort of your own home?
There are a lot of opportunities for homebased franchises now; it’s in your best interest to truly navigate the system before investing. Reach out to other franchisees and ask them what their work-life balance has been like, have a prepared set of questions for franchise offices and inquire about your own personal goals with a home business.
The drawback of homebased services is the lack of tangible office space. Many people work from home but without distinct separation of work and home, family members or house calls can interfere with work and the balance and can be a constant conflict. Depending on what you desire from a home work space, you can set fine lines that help create separation in any home. Some people refuse any personal infringement during their work time to establish that separation while others enjoy running around with a laptop in one hand and a kid in the other. That’s the great part about working from home: you set the rules and you determine what kind of environment works in your favor to be successful.
Sometimes a lack of location can set a business back in some ways. Having a stable office space makes you more accessible to the public but some home based franchises do not need a space to function; therefore research is necessary to determine the expectations of the business.
With the internet becoming a powerful shopping location, it’s easy to take advantage of technology and generate a profit. A lot of homebased franchises are delivery or mobile programs and how those systems are scheduled and work would determine how a franchisee would work from home.
Of course, a passion for an industry would be helpful. A lot of us dream of working from home, but in a field of interest would be preferable.
A franchise is a great opportunity to create the perfect work life balance. It can allow more time at home and a stress-free environment, and it also allows investors to step into the business as needed and work on their own time. For those interested in putting in a day’s work on their couch and never missing another birthday party or concert or school play. A homebased business could be the right fit for people who want to have control of their time and the freedom to be with their family.
Some homebased businesses would create longer working hours. Global communication has been beneficial to the economy but sometimes conference calls may be on the other side of the world. The time difference can make for odd working hours and irregular schedules. Franchises usually work with you to create a schedule that suits your needs and provide support and efforts to avoid such a chaotic schedule. In comparison with other home businesses, franchises have a support system and a home office that guarantees a better lifestyle for their franchisees.
Home businesses are the ideal for most Americans and a franchise is an accessible and safe way of achieving that dream. In fact, 70 per cent of home based businesses succeed within 3 years versus 30 per cent of regular businesses. Families would have more time with one another; people would have more personal time for themselves and spend less time on the road. It’s a lifestyle that’s always been hard to achieve but technology has changed the discourse and possibility of how we run business. A franchise now provides numerous homebased businesses to consider so not only do you work from the comfort of your own home, you determine what type of work you will be doing. It truly is the American dream.
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ABOUT THE AUTHOR: After receiving an English Degree, followed by a Journalism Diploma, Gina Gill became a freelance journalist in 2008. She has worked as a reporter and in communications, focusing on social media. She currently works as a community information officer with Epilepsy Society, while pursuing her writing career at the same time.