Home-Based Franchises
While the first thing many people think of when they hear the word “franchise” might be a fast food chain requiring costly investment in premises, staff and materials, recent technological advancements mean that this need no longer be the case. With the advent of smartphones, high-speed broadband internet and cloud-based computing, many franchises now only require prospective franchisees to have access to a laptop, a phone and a stable internet connection before they enter into a franchise agreement with them. This has greatly democratised the franchising landscape, making it much more accessible for prospective franchisees with relatively limited financial resources.
Working from home is becoming an increasingly popular option for a wide range of people trying to maintain their work-life balance, and many commentators are now arguing that it need no longer be seen as an obstacle to productivity and innovation. Chiefly responsible for the growth in people working from home has been the dramatic change observed in recent years in family structures and associated working roles.
Over the past ten years, the number of maternal breadwinners has grown dramatically in Europe, and Britain is leading the charge, with a third of working families having a woman as the sole or main breadwinner. This demographic shift has been variously attributed to factors including the rise in double-income households, an increase in single-parent families, and the fact that employment rates for women have gone up over the past 40 years, while the employment rates for men have reduced.
With more mothers shouldering the financial responsibility for their family, coupled with the difficulties of juggling childcare and work, a franchise business can prove an excellent option for those looking for the flexibility that comes with being their own boss.
A 2016 Department for Education survey of parents discovered the following:
- 22% of families found it fairly or very difficult to meet childcare costs
- More than half of non-working mothers said they would like to work if they were able to find quality, affordable childcare
- 46% of working mothers said that their reliable childcare enabled them to work
On a similar note, there has recently been a call for employers to allow parents to work flexibly after the summer holidays when their child goes back to primary school. When a parent does stay at home, this is most often the mother, but the proportion of fathers staying at home is increasing: one in seven (14%) fathers now stay at home with their children, and 53% of fathers said they would like to find a less stressful job in order to help out with childcare. In the UK, both mothers and fathers desire a more equal balance between work and life, with eight in ten parents reporting that they are unable to spend enough quality time with their families.
With mobile technology and cloud computing improving rapidly on a yearly basis, employees are increasingly demanding flexibility from their employers and the option to work remotely. While many employers are responding to said demand – illustrated by the 4 million employees currently working from home in the UK – it’s estimated that a further 1.8 million UK employees still yearn for a better work–life balance. Currently, a majority of employees working from home are male, but recent research showed that 35% more women were working from home in 2015 than in 2005.
Both double-income households and single-parent families consider remote working a useful asset which can fit flexibly around one’s family life, resulting in high competition for remote working jobs; Forbes recently published a list of prominent companies offering working-from-home options. Employees can, unfortunately, end up being very much at the mercy of their employers in achieving this working pattern, and the option to work in this manner is not always available. Many opt for freelancing instead, but the fluctuations in work and payment which accompany this mode of working can be stressful and precarious for families who rely on a steady flow of income.
A franchise business can offer more freedom for stay-at-home parents, providing a suitable model for parents who wish to work and thereby allowing them to achieve a work–life balance not always possible as an employee. Many franchisors have become aware of this, and as a result some franchise systems are specifically targeted towards parents looking to work from home.
Potential benefits of franchises for stay-at-home parents
- Flexibility: A franchise model can provide parents with the much-needed flexibility to manoeuvre the hectic schedule of family life. Obviating the need for commuting and taking time off for appointments and special events leads to a happier and healthier family.
- Security: It’s important not to underestimate the potential unreliability of starting a new business from scratch. The stresses of starting out alone can be difficult on families which are dependent on the success of a business and regular income. A franchise provides an established, proven business model, along with reliable training and support from industry experts. The networking opportunities of franchising can also be highly beneficial to franchisees – associating with other franchisees in the same sector can lead to valuable contacts, and a useful opportunity to learn from the experiences of others.
- Being one’s own boss: Rather than trying to fit family life around a job, franchises allow the franchisee to be their own boss, which means the freedom to set their own hours and fit work around family instead. A franchise business can be set up and built from home, and many can be operated on a part-time basis. Franchises also offer parents the prospect of entering the career world again, possibly following a gap on their CV.
Additional factors to consider
Take your space into account
The first element to consider is where you’ll actually be working, and how much space you can realistically put aside for your workspace/office. It’s crucial, insofar as possible, to ensure that this space is kept separate from the rest of the home, to avoid distractions and inconvenience. For example, work-related items should be kept within your workspace only. While it may be tempting to migrate to different spots throughout the day, for maximum efficiency and concentration it’s ideal to keep work to a well-defined and neatly organised area. Depending on your childcare arrangements, it may be necessary to find the quietest area of your house – preferably behind a closed door! – in order to minimise distraction.
Just like a regular office environment, it’s important to bear ergonomics in mind when setting up and arranging your working area. Slumping over your laptop while sitting on your couch could eventually damage your health, so to prevent injury, do some research on office chairs, desk height and the best peripheral devices. Check out the Mayo Clinic website for some useful tips on office ergonomics.
Time management
One major advantage of working from home is the flexibility of one’s timetable, as the unpredictability of child-rearing (while accounting for sick days, appointments, school events etc.) means that working hours may change from week to week.
- To maintain focus and eliminate distractions, try Freedom, an internet and social media blocker.
- Plan tasks, set reminders, and share lists with Wunderlist, which can be synced across all computers and devices.
- Is conference calling necessary for your business? FaceTime, Skype or Google Hangouts are your best bets.
Legal requirements & taxation
Setting up a business from home comes with its own particular requirements; you may need permission from your landlord or mortgage provider, local planning office (if making adjustments to your home), or local council.
- In terms of insurance, your home cover may not be sufficient and it could be necessary to invest in separate business insurance.
- If you’re self-employed, you must fill out a self-assessment tax return, in which you can include business costs. Certain expenses can be partly claimed for, including council tax, internet, heating and lighting.
- If you’re using part of your own property for a business, you may be required to pay Capital Gains tax if you eventually sell your home. Business rates may be charged on the part of your property used for your business.
- It’s necessary to comply with health and safety requirements. Look up the Health & Safety Executive (HSE) website to ensure you’re meeting important specifications.
For further tips on setting up a business from home, Gov.uk outlines some essential requirements. The Guardian also provides some home working tips, along with a home business section.