Home-Based Franchises in NZ
Many small businesses are operated out of their owners’ homes. If you don’t need retail premises or staff, you have space for the stock or equipment you’ll need and you are able to visit clients or have a suitable space for them to visit you, there are many advantages in being home-based. The major ones include no rent, flexibility of hours, the possibility of working with a spouse or partner and the ability to offset a fair proportion of your home costs against the business for tax purposes. The downside is that you’ll need proper office space, freedom from interruptions and you may find it hard to get away from work sometimes. Read more about working from home.
When you’re looking for a home-based franchise, it’s important to do more than ask ‘How much does it cost?’ and ‘What experience do I need? Do your research – we recommend putting in an hour of research for every $1000 that you plan to invest. Apart from talking to the franchisor and asking them lots of questions, it’s also a good idea to talk to franchisees who are already running the business to get all the information you need before you open your own business.
While there are many good home-based franchise opportunities for sale, they are all different. Before making your decision, you should consult a lawyer specialising in franchises. You’ll also want to know how much you can make from a home-based business so consult a financial advisor or accountant experienced in franchising. If you need finance, there are a number of banks which specialise in financing franchises.
What you need to know
Some useful advice to consider when looking for a Home-Based Franchise
What do you need to know before you buy a franchise? Here's a comprehensive list of over 250 vital questions to ask the franchisor that will help you make the right decision.
Would you make a good franchisee?
How can you best prepare for running your own business? Lorraine Lord takes some advice
Franchising can offer an inexpensive way to go into business with some real support behind you, says Simon Lord
With hundreds of franchise opportunities to choose from, how do you choose one that's going to perform for you? Here's our road map to starting up in business
Setting up a home-based business can be a challenge, but doing it properly will save you a great deal of time, frustration and money in the long run, says Heather Douglas
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