Adjusting to work life from home? Check out these different business plans.
You may have gotten a taste of working from home since social distancing rules have been announced. While it’s not for everyone, it has many of us asking, “How can this become a permanent gig?” You may have been laid off or furloughed, or maybe you are dreading going back to your 9-to-5 office routine. If you’ve thought about owning a home-based business, this is a great time to explore your options. There are a ton of opportunities out there to suit every interest and lifestyle. Taking away a commute and fixed hours leaves you with more time and flexibility. And, of course, owning a business gives you financial freedom and more security.
Within franchising, there are a surprising number of home-based business opportunities. And what’s even more surprising is that you don’t need to be an expert or especially skilled in any certain field. For example, you can run an educational franchise without a teaching certificate. Generally, the skills needed to run most franchises are business acumen and motivation. The franchisor will teach you the rest.
Below are 10 business sectors you might never have considered for work-from-home opportunities.
Education
If you love kids and want to make a difference, educational franchises make great home-based businesses. Often run as after-school enrichment programs, they require relationship-building skills to generate business. Owners develop partnerships with schools, daycares and community centers and offer add-on programs to existing curriculums. Once the relationships are in place, the business owners enjoy recurring revenue and can introduce additional programs, such as camps.
B2B Services
From corporate cleaning to building maintenance, being in a business that serves other businesses usually means recurring revenue and large-ticket jobs. Although many are home-based, these businesses usually require several vehicles and the ability to lead a crew of workers. Many times, franchisors have relationships in place with large companies, allowing the franchise owner to walk right into big contracts.
Business Consulting
As a work-from-home consultant, you can be trained to run a business that helps other professionals. These “white collar” franchises offer services like career coaching for individuals. They also work with businesses and provide services such as reducing expenses or acquiring funding. Training and ongoing support usually come as part of the franchise fee, so you will always have answers to your clients' questions. Depending on the franchise, you will likely have to get out to community events and join the local chamber of commerce to build your client base.
Franchise Consulting
As a work-from-home franchise consultant, you can help aspiring entrepreneurs identify and invest in a franchise business. A career as a consultant can be extremely rewarding for folks who like to help people and make a difference. Offering a great work-life balance, franchise consultants can choose a part-time or full-time schedule and reap the rewards of the effort they put in.
Senior Care
You don’t have to be a nurse or a licensed professional to run a senior care franchise. You just need a caring heart and the ability to lead a team. With baby boomers aging, the demand for quality home care is on the rise. This valuable service helps keep seniors in the comfort of their own homes longer. Services include everything from bathing and meal preparation to running errands. Many senior-care franchisees start out in a home-based setting and scale into bigger operations that are run from outside offices.
Home Services
This large area of work-from-home businesses runs the gamut from gutter cleaning and roofing to kitchen remodeling and drywall repair. Most home-services franchisors are looking to partner with people who can run businesses. They generally have low overhead and high margins and, depending on the business, they can offer a great work-life balance.
Property Management
Investments in rental properties are at an all-time high and have created a demand for property management services. With little overhead, many business owners can run the entire operation themselves, with no need for employees. The ability to sell is key for building a client base but will pay off with recurring revenue.
Vending
Although vending is considered a business opportunity rather than a traditional franchise, it has a lot to offer. Usually, it takes just a few hours a week to run these businesses. Today’s machines operate with sophisticated technology that automates payments and alerts owners when more stock is required. Because of a demand for healthier options, you will see them filled with items like protein bars, trail mix and gluten-free pretzels rather than candy bars and chips.
Mobile Businesses
From personal training services to traditional food trucks and even specialty services like shoe shining, mobile businesses are gaining in popularity for what they deliver: convenience. As a business owner, they are generally fun and easy to run and provide a built-in marketing vehicle — literally. Whether it’s a food truck or a service van, whenever you are out on the road or parked at a job, your wrapped vehicle will grab attention and generate business.
Pet Services
If you love animals, you can find a home-based business that caters to our furry friends. There are pet grooming, pet training and even pet poop pick-up services. These are feel-good businesses that can bring in repeat business and word-of-mouth referrals.
If working from home during quarantine has you thinking about making the leap to owning your own business, franchising offers a wide array of choices for different interests and skill sets.