Home Based Franchise Opportunities

Franchising is not just about restaurants and retail stores. There are plenty of home based franchise opportunities available today. Some of the most popular and successful include computer consulting, tutoring, senior care, landscaping, cleaning and janitorial, financial consulting, marketing services, and home décor, which can range from floors to windows to painting. The good news about home based franchise businesses is the success rate.

1. According to the Home Based Business Institute, about 79 percent of home-based businesses will last over a three-year period.

2. A recent IDC survey indicates that the average income for income-generating home office households is $63,000 a year.

3. According to the Small Business Administration, there are more than 24 million home-based business operating in the US, and these make up 53 percent of all small businesses.

4. About one-third of these businesses are part-time, with the majority acting as primary household income sources.

5. The SBA also reports that over 90 percent of home based businesses have no employees, and that about seven percent have less than five employees.

6. The majority of home based franchise businesses are in services, including business services, financial, janitorial, food preparation, computer consulting, and marketing. Construction accounts for 16 percent of home-based businesses, and retail about 14 percent.

7. Most home franchise businesses, more than 90 percent, are sole proprietorships, with the other ten percent owned as partnerships or “S” corporations.

Running a business from home requires strict discipline for separating your home life from your professional commitment. Beyond the tax advantages of having a separate office space to conduct your business, it also makes it easier to maintain boundaries between work and home. Working from home has its rewards as well as drawbacks. If you can stay focused, ignore distractions, and keep to a schedule, it could be the right option for you.