Is a home-based business for you?

Is a HOME-BASED business for you?

By Joseph Katz

Home-based franchising has become increasingly popular over the last decade, which hardly comes as a surprise. After all,working from home gives you the convenience of an easy commute(maybe just walking downstairs), offers more flexibilitythan the corporate world (schedule calls around the kids’ carpool),and lets you trim the overhead expenses that come with astorefront. More good news: These days, there is a home-basedfranchise opportunity for every budget and in every trade.

Running a home-based business can require strict disciplinethough. You must be able to separate your home life from yourwork life, which can be tricky given they’re both rooted in thesame space. So before you consider buying a business—anybusiness—contemplate how it fits with your lifestyle. On thefollowing pages, we list a few key tips that can help launch yourhome-based business on the road to success.

Get Motivated

Being your own boss is great, but without a manager looking over your shoulder, it’s on you to get things moving. Home-based businesses, especially early on, can have unpredictable challenges—people call in sick, shipments arrive late—so setting a realistic game plan each day and working ahead of schedule is beneficial. If you hit a hurdle, you’ll have time to deal with it.

Get Organized

In any business, nothing helps you stay ahead of the game like excellent organization skills. Juggling multiple roles—president, marketing manager, human resources manager, sales, office manager, and tech support—is much easier with a plan in place. While you may have a handle on the big picture, there are still those little everyday things—scheduling appointments, staffing, invoicing—that you’ll have to stay on top of to keep your business running smoothly. Come up with systems and schedules that work for you—maybe you pay your invoices every other Friday or order from vendors every Wednesday morning. Having a game plan right out of the gate is the best way to prevent endless rounds of catch-up.

Set Boundaries

If you’re launching a home-based business, it’s important that everyone at home understands the implications. While you may be at home physically, you’re also working, so you may not be available to help with homework or pick up the dry-cleaning. Set up a home office that you only use for work purposes, so everyone gets the message: “I’m working.” Just like in a big corporation, you always want to convey professionalism. When you’re on calls with clients, it’s best they don’t hear the kids arguing or the dog barking in the background. On the flip side, while it’s tempting to work late, scarf down dinner, and jump back on the computer, it’s wise to walk away from the office at the same time every day, too. This way, your clients know when you’re available to them—and so does your family. Work-life balance is important—I mean, isn’t that why you chose a home-based business to begin with?