As the popularity of children’s service franchises increases, the number of home-based franchises account for 30% of those franchise systems. Combining the benefits of a home based franchise with the increased demand for children’s services represents a good opportunity for certain franchise candidates. The use of new technologies has accelerated the growth and efficiencies of home-based franchises. In the past, a person that operated from a remote location would have limited resources to manage their affairs. Today, it’s become common place for business owners and employees to work from home.
This phenomenon has impacted the franchise industry as evidenced by the large number of home-based franchise opportunities. A review of home based franchise concepts has revealed some interesting results.
There are a number of advantages that a home based franchise offers:
There are significant franchise opportunities available in the children’s service category that feature home-based operations. In the majority of cases, a home-based franchise can enable an individual with limited capital to own and operate their own business.
Children’s Services include education, tutoring, creative and enrichment programs, fitness programs and other specialties.
When it comes to franchising, Murphy’s Law comes into play more often than desired. In many cases, a new franchise takes off slower than anticipated.
The emphasis on franchise system growth is as old as franchising, having been accepted as the indicator of a quality franchise.
After owning 4 successful businesses, in different business sectors, there are two common attributes my good hires have shared; Curiosity and Tenacity.
In the franchise industry, franchisors can view comparisons and relationships between consumer satisfaction for the products or services a franchise offers.
These traits lead to low franchisee turnover, an attractive investment opportunity, outlet growth and brand recognition and consumer satisfaction.
Owning a business is hard. Each venture has its differences – different customers, different go-to-market strategies, different business partners.