7 Challenges of Home-based Franchise Opportunities
1:
Maintaining Personal and Professional Balance
Unless you are self-disciplined enough to
maintain a healthy work-life balance, things could go really wrong before you
even realize it. Create clear work and personal zones before you explore
home-based franchise openings.
2:
Create a Work Culture
When you are at home, you tend to ‘work for home’
rather than ‘work from home’ since there is no end to household chores. Create
and meticulously follow work rules, regulations, and discipline when choosing
to own home-based franchise business.
3:
Income may be Limited
Any single-person run business is unlikely to
earn as much money as a full-fledged business that is supported by expert teams,
resulting in limited income. Check if the franchisor offers you the option to
expand the business, once you are ready to scale up.
4:
Franchise Rules Needs to be Honored
Even if you have chosen to operate from your
home, you still cannot work to your timings when running a home-based franchise
business. There are franchise rules and procedures that need to be followed.
Even if you have a better idea to improve your
franchise, you may still not be able to implement it.
5:
Every Role must be fulfilled
In a regular franchise, you have staff to take
care of marketing, sales, operations, etc. In a home-based franchise model, you
need to put on all the hats and manage these things all by yourself.
This requires a huge amount of dedication, time, management skills, and energy.
6:
Distractions are More
During your working hours, everyone around you
should recognize that it is work time. If family members fail to respect this you
may be distracted often.
7:
Space Issues
Initially, it is all good and nice to own a
home-based franchise opportunity. If you have the potential to earn more and
expand your business, then you need to move your business to a bigger place and
hire employees to support you. So, be ready to step out of your comfort zone.
You may as well choose a home-based franchise that provides this option.
For more potential challenges of owning a home-based franchise opportunity, Contact Us.