The word ‘franchise’ seems to carry a fairly conformist spin to it — when you think about a ‘franchise,’ you tend to think about pretty traditional businesses like Subway, Merry Maids, or the UPS store. But there are a huge variety of franchises in the world, and some of them are home-based ventures that will have you doing things you never knew you could do for money, much less do as a franchise with an established business plan and proven historical success stories to emulate. From using border collies to chase geese off of golf courses to providing breakfast-in-hospital-bed to immobile soon-to-be-mommies, the number of home-based franchises you can get into is stunning.
The number of home-based “business opportunities” on the Internet isn’t just stunning — it’s downright unbelievable. It’s trivially easy to find websites out there insisting that you can ‘start your own business’ and ‘turn a huge profit overnight’ by doing ridiculous things that range from classic scam material (envelope stuffing, anyone?) to downright bizarre (collect discarded batteries and ‘recondition’ them to work ‘like new’?)
What’s the Difference?
Simply put, the difference is that, no matter how unusual the franchise concept seems, it is always, 100% of the time, going to be a significantly more reasonable investment. That’s because a “business opportunity” is almost always just a product that you buy along with a vague outline of how you can use it to make money. A “franchise,” on the other hand, is a specific kind of transaction wherein you buy everything you need to turn a profit, from the equipment to the step-by-step business plan, along with a promise of future services including training, advertising, and more.
What’s the Downside to a Home-Based Franchise?
The cost. Very literally, there are purported “business opportunities” that claim to be able to get you turning a profit by having you download a free e-book and spending $75 on some product or other that you’re supposed to be able to use to provide a valuable service. The cheapest home-based franchise will charge you around $4,000 to get started — and those franchises are little more than “here’s the plan, you’ll be managing a website that sells products, by the way executing the plan will require several dozen 18-hour days in a row, good luck!” The more successful home-based franchise models start in the $20,000 range and go up to several hundred thousand dollars’ for the upfront investment.
And $20,000 is the “More Reasonable” Investment? …For a Home-Based Business?
Absolutely it is. Let’s take just one random example: $46,250 to get into a property management franchise. You could go check out every book on property management, read every blog about property management, and then go try to start a property management business out of your living room on your own…and you would almost certainly fail unless you already had years and years of experience. Sure, all you’re out several grand and a few months of your time…but if you put in the money up front, you can hook up to a system that has proven to create successful property management business time and again. You’ll lose more if you fail — but the chance that you’ll fail is massively reduced compared to trying to go it alone. And that’s really the best reason to choose a home based franchise over a “biz-op” — because you’re willing to invest in your own success.
The number of home-based franchise opportunities is overwhelming, and the process of inquiring with the franchise recruiter for each brand before you find the right one for you can seem daunting. At Franchise City, we offer a better way. If you are interested in home-based franchises or any other kind of franchise business model, we offer free unlimited consulting to help you find the business that fits your skills, tastes and budget. Through a unique and proven 20 step process, we take clients by the hand and give them all the tools they need to find the franchise they are most likely to succeed in. To learn more, fill out the form below for further information.