How You Can Make $100,000 A Year From Home

10 home-based franchises that fit your pocketbook -- and profit motive

grow our business.”

To go from a one-office operation to franchisor, Colbert/Ball took the following steps:

Identified a local franchise attorney that helped it structure the franchise agreement — a document granting the terms in which the franchisee can operate under the Colbert/Ball umbrella, and the UFOC. Colbert and Ball then defined and carved out the territories that each franchisee will have so they will not compete with each other if they were within the same neighborhood. At the same time, they developed an operations manual that franchisees could follow.

Creating a support mechanism for franchisees, including training, marketing, and technical assistance in running a Colbert/Ball franchise. oo Finally, they found individuals interested in purchasing franchises. “What we had found out is that our business has grown through word of mouth,” says Colbert. But to complement that, Colbert/Ball took out a series of advertisements in magazines and newspapers.

Start-up costs for Colbert/Ball franchises range from $11,000 to $19,000, which include a franchise fee of $3,500, and cover the cost of two or three personal computers, a laser printer, copy machine, file cabinets, and other standard office supplies.

One thing entrepreneurs have to keep in mind: The tax preparation business is highly seasonal with virtually all the revenues generated from January to the April 15 tax-filing deadline. Ball says a typical franchisee can expect to prepare 300 to 400 tax returns in that period and take in roughly $50,000 during their first year of operation and more than $100,000 by their third year. In fact, most of their franchise locations only remain open during that period. Franchises charge an average of $115 to $140 for each return, of which $22 goes to Colbert/Ball, which is their royalty fee and is based on the number of returns completed. “Over 80% of the people who come in for these services are black,” says Ball. “But they don’t have that many business owners that are servicing all these people. We have more in common with the people we’re servicing so we know how to service them.”

TOP TEN FRANCHISES YOU CAN RUN FROM HOME

Company

Location

Telephone
Number

Type of Business

Black-
Owned
Units

Domestic
Franchise
Units

Start-Up
Costs*

BuildingStars Inc. St. Louis, MO 314-991-3356 Commercial Cleaning

45

103

$1,495 — $8,000
West Sanitation Services Inc. Torrance, CA 310-793-4242 Restroom Deodorizing Service

8

65

$2,800
Coverall North America Inc. Ft. Lauderdale, FL 954-351-1110 Commercial Cleaning/Industrial Services

2,558

6,395

$6,300 — $35,900
Open Works Phoenix, AZ 602-224-0440 Commercial Cleaning

22

341

$15,000
The Home Team Inspection Service Inc. Cincinnati, OH 800-598-5297 Home Inspection Service

6

325

$19,450 — $46,050
ServiceMaster Clean Memphis, TN 800-633-5703 Disaster Restoration-Commercial and Residential Cleaning

40

2,917

$20,283 — $84,525
Novus Franchising Minneapolis, MN 800-328-1117 Mobile or Fixed Windshield Repair and Replacement,

3

412

$22,000 — $120,000
      Paint Restoration, and Paint-Less Auto Dent Repair

 

 

 
Lawn Doctor Inc. Holmdel, NJ 800-631-5660 Automated Lawncare

4

Pages: 1 2 3 4 5
ACROSS THE WEB