Benefits of Home-Based Franchises Include Low Startup Costs and Work-Life Balance
One of the many benefits of owning a franchise is that you may have the opportunity to operate it from home. Home-based work is becoming increasingly popular as more people rethink their careers and value a work-life balance. Whether you are a mother who needs schedule flexibility to care for your family or you’re a corporate employee who is tired of the 9-5 grind, there are great benefits to owning a home-based franchise.
There is no longer a stigma towards working at home in this technologically advanced world. Workers are searching for “home based franchises for sale” and “home-based franchises under 10k” for their next venture. There are 32.5 million small businesses in the U.S., and about 19 million of them are home-based, according to the U.S. Census Bureau. The trend of working from home doesn’t seem to be slowing down. Home-based franchises have many advantages, such as:
Low Overhead and Startup Costs
When you operate one of the many low cost home-based franchises, you don’t have to worry about paying for additional rent or buildout costs that come with a brick-and-mortar franchise. Many of the top home-based franchises have lower requirements for working capital and more affordable entry fees. About 44% of home-based businesses can be opened for less than $5,000. This is great for those who don’t have access to capital.
Many of the best home-based franchises also don’t require a lot – or any – employees. According to the Small Business and Entrepreneurship Council, over 60% of home-based businesses don’t require any employees, which lowers labor costs.
No More Commuting
A common complaint of many workers is that the commute is the worst part of the day. It’s unfathomable to think of all the time wasted sitting in traffic. But that all goes away with the top home-based franchises. Not only will you save a lot of money on gas, but you can spare yourself from the stress and headaches that are all-too common for commuters.
Home-based franchises allow you to offset certain costs as business expenses. For example, some of your utilities, such as your phone and internet, can be charged as a business expense. To ensure you’re getting the maximum tax benefit from your home-based business, consult with an accountant.