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Jun, 10 2011

Comfort With Caution

Are you among those who want to be an entrepreneur but don't want to leave the comfort of home? Are you looking for big business but want to invest low. Then, join the league of home-based entrepreneurs, who have the best of both the worlds.

Are you among those who want to be an entrepreneur but don't want to leave the comfort of home? Are you looking for big business but want to invest low. Then, join the league of home-based entrepreneurs, who have the best of both the worlds.

THE traditional Indian: risk-averse, happy with the salary he gets at the end of the month. The modern Indian: loves taking risk, want more out of life than just salary. He wants to be an entrepreneur. But yes, he is not fully ready to leave the comfort of his job. Here comes home-based business to his rescue. He can be an entrepreneur, earn more and work from the comfort of his home. Supported by franchising, there is scope enough for growth and expansion.

Majority of the brands offering low-cost franchise have started exploring home-based opportunities for franchisees. And most of the home-based franchises quintessentially fall under the low-cost category, as one doesn't have to shell extra pennies on retail space, hiring and paying employees or even on inventory. There are many franchisors, who even offer part-time business opportunities. Applicable for almost all sectors, home-based franchises no more need a physical location and can reside wherever a suitable franchisee does. While many franchises require a store, restaurant or format office setting, these types of franchises allow you to work out of your own home office. This has tremendous benefits for entrepreneurs who are seeking a better quality of life, especially women.

Big bucks at home

To start with, home-based franchises cost much less as compared to other franchises. Running an office from home saves a lot of money, which is spent in commercialised offices like storefront, signage or inventory. Beginning from a meager amount of Rs 25,000, it can go up to Rs 2.5 lakh. So, a franchisee as per his /her investment and area of interest can avail a franchise sitting at home. These franchises encompass varied sectors to choose from, including cleaning services, purifying services, education and training services, brokerage services, healthcare and much more.

For people who plan to culminate their long lasting dreams of owning a business and want to set themselves free from their employers must not forget the following things: First of all, clearly establish your goals for the business chosen and analyse the feasibility of new business franchise and its likelihood of being profitable in near future. Before investing, explore about the brand or the franchisor. It is also very important to define your customers and competitors before settling in any business. Also don't forget to consult outside professional like a lawyer, accountant, banker, business consultant, insurance agent or a broker who can guide you well.

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Fascinating facts

People in the bracket of 55-64 age group shows highest rate of entrepreneurial activity. Unexpectedly, the 20-34 age bracket has the lowest rate

Thirty nine is the average age of US-born tech entrepreneurs when they founded their companies

50% of all US businesses are home-based

13 million people are employed by home businesses

6.6 million home businesses contribute at least 50 per cent of their total household income

8% of home businesses have revenues of $500,000 or more, 35% have revenues of $125,000 or more

50% of all US businesses are home-based

13 million people are employed by home businesses

6.6 million home businesses contribute at least 50 per cent of their total household income

8% of home businesses have revenues of $500,000 or more, 35% have revenues of $125,000 or more

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