Work From Home Franchises A Growing Niche
Written by Jenna Weiner
Cheaper purchase prices make home-based franchise businesses an enticing opportunity.
Home-based franchises are seeing a rise in popularity as many buyers interested in entrepreneurial news are lured in by cheaper costs and greater convenience, according to The Wall Street Journal.
The news source adds that while conventional franchises such as cleaning and tax-preparation services have been around a long time, niche franchises such as dog training, math tutoring and medical billing have sprung up in recent years and are fast expanding.
One example is Berkeley, California-based Fetch! Pet Care, which provides pet sitting and dog walking services. Founder Paul Mann tells Crain's New York Business that there is high demand for the service in urban areas, and setting up another franchise in New York should be beneficial since many residents don't have the family resources to watch pets.
Peter Schwarzer, research director for market research firm FRANdata, explains to the media outlet that his company looked at 80 home-based franchise brands from 2007 through 2009, and found that they were expanding at an average annual rate of 7 percent.
"Home-based businesses are easier to finance right now, so we're seeing growth in that area," Mary Jo Larson, publisher of Franchise Times, tells the news source. "Often, because the franchise fee is lower, the franchisee doesn't need typical bank financing to buy in."
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