Home based business opportunities

    /24-7PressRelease/ - DUBLIN, IRELAND, October 20, 2006 - Many young people wrongly believe franchising to be a riskier venture than starting a business from scratch, according to research undertaken by the Make Your Mark campaign and Domino's Pizza earlier this year.

However, a home based business opportunity could actually benefit a whole range of people who have the energy and diligence to make such a venture work for them and a whole range of possibilities are available in this line of work.

Director of policy for the Make Your Mark campaign Raj Patel remarked: "Franchising provides numerous benefits for the many young people who cite fear of failure as a barrier to going it alone. This growing sector offers many diverse opportunities: from convenience food through to printing and home services."

Working from home obviously requires a different mindset from working in other environments. Self-motivation would be a key personal attribute in determining whether or not a home based business opportunity would be the right career move. It could be easy to fall into a pattern of late morning rises and countless breaks so a strict routine would be advised.

Any respected franchisor, will give full training to the franchisee so that a tried and tested business formula is learnt by the franchisee and a return on capital can be maximised.

An example of this would be aqua-lec where a total investment of 22,350 ($41,681) is needed in exchange for the use of trademark and trade name, control of operating the franchise and providing the specific aqua-lec services in a designated area, among other things.

Due to the fact that the franchiser wants success just as much as the franchisee, companies such as aqua-lec will provide a lot of the donkey work, relieving the franchisee of many of the operating burdens such as bookkeeping and marketing.

One very attractive knock-on effect of a home based franchise is that costs can be kept to a minimum when operating a business from home. Added to the lack of travelling expenses and time, these factors can really start to benefit the franchisee in terms of time management and cost saving exercises.

Working from home should not, however, be an excuse for shoddy planning. The business exercise should be run with precision and should be treat as any other business venture, eliminating any oversights that may arise from having the relative comfort zone of one's own home as a base of operations.

There are many key factors to consider once a home based business opportunity is past the planning stage and into the implementation stage. The franchisee must make use of all available help from the franchiser. This can only be beneficial for both parties.

Any working area needs to be both practical and professional and so it is of paramount importance that time is taken to address this need when organising the house around the business.

Lastly, financial data must be analysed and be seen to be in correct order so that there can be no nasty surprises lurking around the corner, such as realistic profit and loss projections. Likewise, the franchisee should do their homework on the franchisor so that they know what to expect from the company they are to do business with.

Copyright Adfero Ltd 2006

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