Essentials for running a home based Franchise
The franchise sector is witnessing a huge boom. More and more franchisors are realizing that home based franchises can be as successful as office based ones. In fact franchisors are now encouraging home based franchisees because it reduces the risks for both the franchisee and the franchisor by reducing costs and improving margins. So what should one keep in mind when going in for a home based franchise? Here are 6 quick tips to make sure that your home based franchise is successful:
• Special training by the franchisor Working from home is not everybody’s cup of tea. You should make sure that you receive specialized training from the franchisor in this respect. Working from home for a franchisee is an altogether different experience which needs a lot of self-motivation, commitment, discipline and various other resources.
• Separate office space Although you can use your main room as your office it is always advisable to demarcate some separate space in your house for your office as this will help give it a professional look and help you to concentrate. As work piles up, it is possible to misplace your files and hence it is always advisable to have separate office space, say in your spare bedroom or your basement.
• Proper furniture and stationery It is very important that your office has essentials like a desk, computer, good lighting etc. Also office stationery is an integral part of day to day office life. These things help greatly in the day to day running of the business and their easy accessibility increases efficiency.
• Create a Schedule Although a home based franchise does give one the liberty to work at ones own convenience it is in the interest of the business as well the individual’s personal life to prepare a work schedule and to stick to it. This will help the individual to balance his/her time between personal and professional life. During work time, you shouldn't compromise your professionalism and this is one of the biggest challenges of a home based franchise.
• Develop a network with other Franchisees Working alone from home can at times become very lonely and hence it is very important to network with other such people. This will help in keeping you motivated and also help in getting new ideas from others.
• Legal Validity Some states don’t allow residential properties to be used for commercial purposes so it is always advisable to check whether your business has the necessary legal permissions from the concerned authority.