A recent piece in What Franchise magazine pointed out that 4 in 10 franchises can be run from the comfort of your own home. In the article, Frank Miller of Tudor Doctors points out several of the key benefits:
• LOWER SET UP COSTS & OVERHEADS – The financial efficiencies are many. No extra rent. Utilities and modern media facilities are already in place. Adding ’Business use’ to your home insurance can often be straightforward and relatively inexpensive
• FREEDOM & FLEXIBILITY – You won’t be limited to set open times, like many retail businesses and without the work commute or set office hours you’ll be able to maximise your productivity. Personal appointments, like doctors, are easier, and things like home deliveries or having workman around is less of a problem
• TAX ADVANTAGES – You can claim a proportion of your increased home costs against your business income. Just make sure to get an accountant’s help to maximise these and also to ensure you are following the rules
• FAMILY LIFE – You obviously get to see more of them! School runs become easier, as do sports days, afterschool clubs and parent’s evenings. You can choose to spend some quality time with the kids during the day then continue working when they are in bed. Overall, you’ll have many more shared experiences to help cement those important family relationships.
All the benefits above can even apply to a franchise like Card Connection, where you can be based at home and keep your stock in your garage, but still need to go out to merchandise greeting cards displays in stores. That’s why a franchise can still be a really smart choice for anyone looking for a better work/life balance than is offered by a traditional commute-to-work job.