Since the pandemic, the idea of “working from home” has jump-started the new age of starting your own home-based business. The ability to become a business owner is now something that can be made to fit into your life instead of the other way around. Continue reading to learn more about this new wave of creativity and flexibility.
Circumstances brought on by the pandemic led to public health policies that have changed the way we work, maybe forever. Suddenly unable to meet in large groups or confined spaces, entire workforces were remanded to their residences and a new acronym, WFH, entered our lexicon. In the adjustment to “working from home” many employees realized the newfound freedom to conduct businesses from the end of kitchen tables, converted guest rooms or even elaborate home offices. Overnight, there was no commute, no traffic and no idle chatting by the proverbial water cooler. Unsurprisingly, many Americans have found remote work to be preferable to the old model. Various surveys have revealed that the majority of employees would rather resign than return to the office, a factor that at least partly contributes to the Great Resignation.
A scalable opportunity for business ownership
Many entrepreneurs are looking for an uncomplicated, convenient way to launch a business of their own. They’d rather not investigate more complicated and complex franchise concepts that require site selection research, massive inventories and brick-and-mortar locations. Thankfully, there are thousands of franchise concepts on the market today from which to choose. Both home-based and mobile franchise opportunities span across a wide range of industries. For instance, mobile franchises aren’t just variations of food trucks, but also reference pet grooming, cleaning, window washing and landscaping businesses. PuroClean, a property damage and restoration franchise, is a great example that also ranked in the top-100 of Entrepreneur’s 2022 Franchise 500.
Home-based businesses offer more choices than most people realize, including categories such as senior care, cleaning, consulting and advisory services, home improvement and home services. Lendio, a franchise that helps business owners secure the financing they need to expand and grow, is a perfect example of a business that can be run from the home. One of the primary benefits of these concepts is the scalability it allows the business owner. You can start small, ramp up, then grow accordingly.
Side hustles and the gig economy
Many people who use franchising to launch a business of their own have no immediate plans to quit their day jobs. The scalability of home-based and mobile franchises offers entrepreneurs an opportunity to continue supporting themselves while the business grows. These entryways into the gig economy allow many families to close the income gap through the “side-hustle” nature of the business models. Especially for those who prefer the semi-absentee franchise model, in which they simply “manage the manager,” home-based and mobile franchises are a wise route. While an increasing number of Americans have some form of side-hustle or gig economy business arrangement, only the franchising route can put them in the driver’s seat of ownership.
Less is better
Home-based and mobile franchise opportunities have become attractive business ventures because of the countless advantages they present for convenience and scalability. They’re typically less expensive to operate, have much fewer upfront costs and offer franchise owners an environment where freedom and flexibility are at the forefront of their operations. The franchising industry is filled with former 9-to-5er’s who previously toiled away in a gray cubicle – not exactly the best environment for creativity, expression and self-determination. A home-based or mobile franchise allows owners to get out and chase new business ventures, experiencing the thrill of the hunt. From a customer acquisition and service perspective, it’s a way to build a better connection and establish a lasting relationship – the very key to recurring customers. When customers become recurring, so does revenue.
Home-based and mobile franchises offer more than a business, but a scalable lifestyle. It allows for a means to become a business owner in a comfortable and reassuring environment – your own. If you’d like to explore options in this growing industry of franchise ownership, you can start by reviewing the full rankings of Entrepreneur’s recently released 2022 Top Home-Based and Mobile Franchises. Happy hunting!