Being an employee for many is a controlling place which motivates them to start exploring the options of being their own boss. Many seek the benefits of a home based business franchise but forget to consider the following truths.Who’s Really The Boss?A home based business franchise has a number of great incentives and advantages which is why many people choose to start one for themselves but what needs to be said here is what is your motivation for wanting to start one?Are you looking for time freedom, job satisfaction, desire to become your own boss, control your future, build something the way you desire?The well known truth to a home based business franchise is that you are paying for a system. Now although the system may be great, you end up paying for something that you must follow. Are you looking for someone to tell you how and when you must do something or are you looking for the ability to create something yourself having full control over direction and celebrating challenges and achievements along the way?What Are You Paying For?The great thing about a home based business franchise is that the model and system is proven.This can be best described using the illustration of a coffee.If you were to buy a coffee from a coffee shop you well pay $4 or $5 for it yet if you were to buy the ingredients yourself it may only cost you $1. Now you may be thinking to yourself ‘but I can’t make it as good as they do’ and that is what you are paying for – the system.The same can be said for a home based business franchise, you are paying for a proven system and the added value. Paying an upfront fee and ongoing royalty is the exchange for using their system and benefiting from it.Developing a system for yourself can mean acquiring the value added component within the business which can often mean a great deal of business profits.Remember business profits are calculated after ALL costs and make up your return for investment of time and money.Give it away sparingly!On Whose Terms?I’m a strong believer in taking control of all situations within your business. Whether it be the introduction of one new product or the total rebranding of the company image, as a business owner I like to and always recommend having the ability to control every change that is made.Importantly, a home based business franchise will have many aspects to it that must be considered before purchase such as; Whom you may onsell the business to in the event you decide to move on, What level of input you have in terms of corporate direction Product creation and implementation Marketing budget and planning A home based business franchise offers great rewards and benefits for those looking to start a business for themselves but should be entered into after careful consideration of the previously discussed points here today.

Difficult economic conditions and poor consumer spending have affected the financial health of many small business units. It is therefore critical to cut down on unnecessary expenses to increase profit margins. Home based business units should regularly review the budget in order to maintain a healthy cash flow.Appropriate evaluation of cash position can help overcome problems and it also creates opportunities. Self employment can be expensive with the requirements for corresponding utilities and infrastructure.
The following measures should be adopted by small business ventures to cut down futile spending and achieve operational efficiency:Negotiate with Pricing: All forms of services, products and consultations should be solicited through competitive bidding whenever possible. The least expensive quote with potential for high deliverables should be pursued.Leverage Partnerships: Essential resources can be effectively utilized through merger and partnership operations with other small business units. Mutual efforts can be initiated by compatible home based business owners to tide over competition.Monitor Expenses: Managerial actions should be initiated to keep track of expenditure. An annual budget for anticipated expenses should be formulated and frequently monitored over time. Heavy expenses should be broken down in to smaller affordable components.Avail Discounts with Bulk Purchase: Lucrative discounts available for purchase of products in bulk quantities should be undertaken. This provides for advantages and benefits with price difference. This can help save money on a long term.Advantage with Lease/ Rental: Equipments, office essentials and technological accessories can be obtained on lease to avoid shelling a heavy price with one time buy. Sale opportunities at auctions, garage sales and warehouses should be pursued in order to cope up with the pressing purchase needs.Consider New Suppliers: New suppliers should be considered for benefits with pricing, delivery and credit period with orders. There should be negotiations for cutting down expenses.Apply technology: Internet communication can be utilized wherever possible to save costs with postage. Marketing activities can be carried out through economical blogs, websites and internet marketing.Reduce outlays: Home based business owners must look for ways to cut operational costs. This can work to provide savings and higher profits.Update Asset List: An asset audit must be carried out to ascertain appropriate items for the computation of taxes and insurance premiums. Shadow assets that are no longer utilized can cause unnecessary expense for business units. Strategies must be devised to depreciate the given assets for tax purposes.Business costs must be reduced to increase profit margins. The cost cutting measures must be thoroughly evaluated before initiation.Home based business owners must consider outsourcing rather than hiring full time employees. Efficient management of cash flow and liabilities through smart cost cutting measures is essential for the viability of a business.