Home-based franchises offer essential services and a great office environment: Your House. But which one is right for you? Let’s take a look.
When you hear the phrase “home-based franchise,” you might picture waking up, grabbing a cup of coffee and sitting at your desk in your pajamas. In fact, your usual daily rituals—dressing, hair-combing, showering—might feel kind of optional. But while some businesses offer work-at-home opportunities, most home-based franchises offer services performed out in the community, where clothing is definitely required.
With the right opportunity, however, franchise owners can enjoy the advantages of working from home while trimming the cost of overhead. Here, we list a few industries that let you manage a franchise from your kitchen table.
Senior Care
Thanks to those baby boomers, the number of American senior citizens is growing. In fact, approximately 10,000 people will turn 65 every day for the next 20 years. This means a demand for more senior healthcare—and more home healthcare. The global home healthcare sector could see revenues reach $545 billion by 2028 according to Grand View Research. Which makes non-medical home healthcare the best franchising opportunity within the senior-care industry.
Home Improvement
According to a report by Harvard’s Joint Center for Housing Studies, “nesting is investing.” With today’s hectic schedules, homeowners often prefer to have professionals tend to their home-improvement needs. That’s why so many professional services—property restoration, painting, windows, deck expansions, kitchen and bath overhauls, you name it—are taking off. Statistics show home-improvement franchises are a $300 billion market, which is only expected to grow.
Property Management
Business is booming in the property management arena, one of the fastest growing industries in the country. More than a third of residential housing in the United States are rental properties. Each of those rentals needs a property manager—someone to find and screen tenants, collect rent, enforce lease agreements, handle maintenance and accounting, among other tasks. Sound interesting? With the ratio of renters to buyers on the rise, this $69 billion industry should continue to grow.
Pet Care
There are currently around 63.4 million pet dogs in the U.S., and around 42.7 million pet kitties in homes across the nation according to Statista. Baby boomers are launching children into the world and replacing them with dogs and cats, while Millennials are adopting and spoiling them. This makes for a booming business opportunity—Millennials could be your customers for decades. Niche or specialty pet-care services are the best opportunities—think in-home training, mobile grooming, dog walking, and pet-sitting services. The Census Bureau projects faster-than-average growth for various parts of the industry through 2020.