St. Louis Home Based Franchises
Many who have wanted to start a business and be their own boss are seeing great success with St. Louis home based franchises. Done right, franchising has the better ROI and yet safer option compared with its alternatives. A one-time license payment and a continuing royalty fee in return for selling an established product, using the brand, having access to the established company’s extensive resources and training programs, and having ongoing support, make franchises an attractive option with much higher chances of success.
The Benefits Of St. Louis Home Based Franchises
Once you decide on franchising, there is still a lot more to consider. A trending franchising option has been home based franchises; a solution where you run your franchise from your home.
Once you know the range of benefits home based franchising offers, you will understand why it has become so popular. Some of the advantages of home based franchising are:
- Lower startup cost and overhead: While franchising in general has a lower startup cost compared with other business options, home based franchising is even more economical. The fact that you don’t need to rent premises and invest heavily into construction, equipment, phone lines, electric bill, etc. means you incur even lower startup costs and overhead than a typical franchise arrangement.
- Offers a better balance with family life: For many people wishing to start out on their own, a young family and a busy family life can be the biggest hurdle. However, a home based franchise allows for more flexibility and availability, facilitating a better balance with family life. This might not be the case with the traditional brick and mortar franchise arrangement.
- No more commuting hassle: For many cities like St Louis, the commute is the biggest hassle for people heading to work. The appeal of a home based franchise becomes even stronger as commute is completely taken out of the equation.
- Lower operating costs and tax advantages: Working from home means that fuel costs, parking tickets, even spending on buying office clothes, will all be cut down, reducing the overall costs incurred. Additionally, working from home comes with its share of tax advantages. You can offset several of your expenses through your business.
Is a Home Based Franchise For You?
While home based franchising comes with its share of benefits and can be extremely appealing, it is not an option for everyone. There are certain factors to consider when deciding if one of our St. Louis home based franchises is right for you:
- Are You Organized: Being your own boss and operating from your home is a lot more challenging than you think. One of the most important factors to consider is how organized you are. If you are not organized enough then being on your own will hamper your productivity and ability to deliver effective results, reducing your chances of success.
- Are You Willing To Put In The Hours: Starting a new business means navigating new waters. And doing so from within the confines of your home, on your own, you will have your work cut out for you. To be able to succeed, you have to be willing to invest the hours- particularly in the beginning when setting up- if you want to have a chance at succeeding.
- Are You Self-Motivated: To work on your own daily and be productive, it is of the essence that you are driven and motivated. Without a proper office environment and others working around you, how well your business runs will depend largely on how motivated you are to see it succeed.
- Do You Have The Necessary Resources: To have a business of your own, you need more than just a financial investment and a franchising license. You need to understand the legal and tax issues involved in running a franchise; you need to have a basic understanding of financial management and HR management, and you need to be able to set up an effective, technologically appropriate home office. (The good news is many franchise systems help you with all these resources!)
St. Louis home based franchises have a lot to offer as long as you do your research and put in the effort.
However, to increase your chances of success, it is best to choose a product or service that interests you, an established franchisor that is offering significant resources for support, and a business that can be run from home. These are mostly services which typically don’t require heavy equipment or extensive staff.
If you are able to choose the right brand for your home based franchise and are driven to succeed on your own, then you are on the safest road to achieving success in the entrepreneurial world.
Contact ‘That Franchise Guy’, John Anderson, to learn more about exciting home based franchise opportunities and how he can help guide you to the franchise of your dreams.