Trends and Facts About Home-Based Franchises
Franchising is not just about restaurants and retail stores. There are plenty of proven home-based, work-from-home franchise opportunities available today that allow a flexible lifestyle.
Some of the most popular and most successful home-based franchise opportunities in Canada include: computer consulting, education tutoring, online trading, senior care, landscaping & maintenance, 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. If you are a motivated self-started who is interested in working for yourself from the comfort ofyour own home, take a look at the home-based franchise facts and trends below:
1. According to the Home Based Business Institute, about 79% of home-based businesses will last over a three-year period.
2. An IDC survey indicates that the average income for income-generating home office households is $63,000 a year.
3. 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% of home-based businesses, and retail accounts for about 14%.
4. Most home franchise businesses (more than 90%) are sole proprietorships, with the other 10% 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.