Enterprise Nation hosts the UK’s largest website for home-based entrepreneurs and as well as providing hundreds of free resources, advising the government on this increasingly important sector of the economy and running the annual Home Business Awards they also produce an annual Home Business Report. The latest of these was published in October 2008 and one of the most surprising results (from their point of view, not ours!) was the number of respondents who started their home business by way of a franchise.
When asked ‘how did you come up with your business idea?‘, 22% of respondents said they bought into an idea, compared with 18% who spotted a gap in the market and 21% who turned a hobby/passion into a way of making a living.
As Emma Jones (founder of Enterprise Nation) writes on the site, “Starting a home business through a franchise is a great way to start. Admittedly, there’s an initial outlay of cash but what you’re buying into is a proven idea and business model. You benefit from the freedom and flexibility of being your own boss whilst still being part of a team; it’s like self-employment with added support!”
If you’re setting up your own home-based business in 2009, the Report, compiled by Enterprise Nation and sponsored by BT, will make interesting and encouraging reading. To download a copy visit the link below.