Every year, thousands of people make the switch from having a job to operating their own business. Franchising is a well established way to get up and running sooner than starting from scratch. Within the franchise sector, there are many business models and categories to choose from. There are restaurants and auto repair and retail and so many other concepts which are bricks and mortar and selling items. There are also options in the service sector. If are evaluating what concept is right for your investment and your lifestyle, consider these 6 reasons to choose a service franchise.
#1. Lower Investment Level
A service franchise tends to have a lower investment level. When the concept is about providing a service to people instead of selling items, that means no stock orders, no shipping costs, no inventory control, no warehouse or shelving.
#2. Environmentally Responsible
If you are concerned about treading a lighter environmental footprint, then a service business is a good fit for you. Providing a service means your key resource is people - not fuel or wood or plastic. A service business means no packaging and bags.
#3. Never Out of Stock
With a service franchise, you never have to worry about new tariffs driving up your costs, or supply chain issues interfering with the availability of your stock. With a service business, your main concern is staffing adequately to meet demand. While this can be a challenge, there are many strategies to proactively manage this. Factors which are outside of your control, such as politics, mergers, and business closures - have no impact on your franchise service business.
#4. Always in Demand
Avoid the latest fad when selecting a service franchise concept. Choose a service which people need, and which people understand. A stable service which is needed all year long is the ideal fit to build a business with a solid revenue stream which can grow over the term of your franchise agreement - giving you great return on your investment.
#5. Feel-Good Factor
It always feels good to help people. It always feels good to be appreciated. When your business is providing a service that people need and want, you get the best of both these feel-good factors.
#6. Work From Home
Some service franchise concepts are suitable to operate from a home office. This further lowers your initial investment if you do not need to sign a lease and fit out a location. It also minimizes your overhead and improves your profit margin. Running a home-based business also has certain tax advantages. Finally - a home based business gives you great flexibility to balance building your business with family and personal time. If you have discipline and can set strong boundaries for yourself, a home based service business may be a perfect fit for your lifestyle.
Selecting a franchise concept that fits your goals and personality is an important process. These are just 6 reasons to choose a service franchise. To learn more about our home-based franchise concept, please get in touch with us and we’ll be happy to answer your questions.