Many people wanting to work from home will 1st consider some of the available home franchise opportunities. Having had experience working from home, by myself, and also having had a franchise, here’s some questions to ask yourself before considering a franchise.
1. Do I want to invest in a business or buy myself a job? Many home franchise opportunities are jobs in disguise. Do all the existing franchisees work from home? Do they employ others to help them? If they don’t employ others, the chances are that you may be buying yourself a job and not the business.
2. Can I get better training elsewhere, at a lower cost? Although some franchisees offer great training, some of the training involved in the home franchise opportunities out there leaves a lot to be desired. You may be better off getting good business training and setting up on your own.
3. Do I want to set up a home based business because it gives me more freedom? Most people setting up in business do so because they would like more freedom. However, many franchisors will not give you that freedom, and they may have many rules and restrictions. Your franchisor could wind up being the worst boss in the world, and the worst thing is, he doesn’t pay you a wage at the end of each month.
4. Will I need to borrow a lot to get started? High initial borrowings when starting a franchise can leave you with little money left over for you to grow your business. Also, if you’ve borrowed a lot of money, and you’re not enjoying the business, it can make it difficult to leave. I have spoken to many franchisees who say that they would leave tomorrow if they didn’t owe so much cash to the bank.
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