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What are the benefits of buying a home-based franchise?
Louise Harris writes:
Providing there is a modicum of self discipline and the space, running a home-based franchise is a more efficient, financially cost effective and productive option for most people.
The first benefit is undoubtedly flexibility. If the franchisee has a family or dependants, it’s far easier to manage time around these people if you’re based in the home.
The second is financial and is the consideration of property. Renting or buying suitable properties in the right location can take time, delaying the start date if the position of the business is critical. This also adds a significant overhead to any business and a commitment at a time when a new franchisee is unsure of the viability of the business.
Home-based franchises are typically lower cost and starting from a home base allows franchisees to scale into property when the time is right. Not commuting can have an impact on the environment too, since you’re not using transport.
Individuals, however, should be honest with themselves about their ability to work from home with potential distractions and gain a clear understanding of what working from home entails in terms of space requirements, visitors, etc.
Louise Harris is an experienced franchisor, having built and sold an award winning franchise. She is now head of strategic partnerships at easyStorage.
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