The franchising industry is the doorway to a world of opportunity. Thousands of franchises offer countless concepts, all with varying startup costs. And while many require a storefront and overhead expenses, a large number of them – ranging from commercial cleaning to dance fitness lessons to windshield repair services – can be operated right from home. Home-based franchises are becoming viable options for business ownership, enabling many new franchisors to grow their businesses more effectively and many more franchisees to get involved in the franchise industry.
The popularity of home-based businesses has been growing for a while now. Home-based entrepreneurship has become so common, in fact, that those running businesses from home have earned their own title, “homepreneurs,” and have become significant pillars in the economy. According to a recent survey conducted by Small Business Success Index and analyzed by Emergent Research, there are currently about 6.6 million home businesses nationwide that generate at least 50 percent of the owner’s household income. These businesses employ over 13 million people; 35 percent of them generate more than $125,000 in revenue, and 8 percent generate more than $500,000.