If there was ever a year to think about running a business from your home, it was 2020. If there was ever a year to actually do it, that would be now — 2021. Remote work has become a new normal even as the economy has re-opened and consumers are coming back into the market in full force. These days, it’s possible to be successful with a lot of flexibility and a lot less overhead.
So why stick with the 9-5? There are bound to be home-based franchises out there that speak to your passion, from pet care and food trucks to home services, garage workshops, and more. Opening a franchise out of your home gives you the chance to follow your bliss, ditch the commute, and be your own boss.
Still on the fence? Check out these eight perks enjoyed by home-based franchises across the nation.
1. Low Start-Up Costs and Overhead
Opening a franchise at home is much cheaper than starting a brick-and-mortar business. Of all franchises, home-based ones are low-cost franchises with high-profit potential. With all or part of the business operating out of your house (or out of a client’s home or place of business), you’ll eliminate extra expenses like rent, property taxes, down payments, security deposits, utility bills, upkeep costs, and more. There’s no more economical way to become your own boss. And initial investments for home-based franchises can be incredibly low. Some brands require as little as $10,000 cash on hand to get the ball rolling.
2. Set Your Own Hours
You’re the boss. And it’s your house. Enjoy awesome flexibility to set your own hours and run a successful business that caters perfectly to your own lifestyle and daily needs.
3. Resilient Business Model
We all had a 2020. The best kind of business to start in times of uncertainty is a resilient home-based franchise. Unlike public restaurants or large offices, a home-based business has certain pandemic-proof qualities that will allow you to keep working as usual, even during a public health crisis. The proven success of the brand gives you additional assurance, and the ownership will have the resources to provide support and training that aren’t accessible to start-up entrepreneurs.
4. More Time With Family & Friends
Opening a franchise at home can be a huge convenience for your off-hours. You’ll get to spend more time with your family and friends even as you run your own business. No commute, flexible hours, and the freedom to be home on your lunch break is irreplaceable for a positive, family-centered lifestyle.
5. Tons of Opportunity Right Now
With vaccination well underway, the stock market soaring, and the economy rebuilding, the U.S. is on track to rebound strong. Tons of folks are rejoining the economy this year, too, after a rough 2020 led to a rise in unemployment. This will make it easier to find eager employees with the skills you need to grow your business. And plenty of home-based franchises have been booming lately, with the rise in remote work. Check out Zoom Room (dog training), Lawn Doctor (lawn care), Men in Kilts (window washing), and other businesses that benefit from the increased time folks are spending at home.
6. Low Interest Rates
Don’t have a ton of capital on hand to start the business? No problem. Interest rates on financing for opening a franchise have reached record lows. They won’t last forever, though. There’s no better time for opening home-based franchises than right now.
7. Do What You Love
There’s a home-based opportunity for everybody. Follow your dreams and control your destiny. Home-based franchises range from consulting and coaching to lawn care, food trucks, ghost kitchens, cleaning services, moving companies, garage workshops, and more. You’ll be able to choose a business you love and make money with your passion.
8. You Won’t Regret It
The odds are excellent that you’ll absolutely love opening a franchise and being your own boss. A report from Franchise Business Review found that 90% of franchisees enjoy operating their business and nearly three quarters (73%), given the choice, would do it all over again. Explore our Learning Center to decide if running a home-based franchise is truly the right choice for you.