Franchise Opportunities Blog
Start a Home-Based Business with Your Tax Refund
There are many rewards to owning your own home-based business, but how do you get the money to start it? Here are the answers to a few common franchise funding questions and how you can put your tax refund to good use by investing in yourself.
How Much Money Do I Need?
The answer to this question depends on the type of franchise you are starting. Some franchises, such as a fast-food restaurant, cost a whole lot to open. Between real estate, expensive equipment, staff training, and employee payroll, you’ll be looking at a large financial investment.
Fortunately, not all franchises require this high of a price tag. In fact, a home-based business requires far less cash to get up and running, due to lower equipment costs and fewer people on payroll. In fact, opening a minimum-investment home-based franchise can cost as little as $3500 down with Dream Vacations.
How Do I Get the Money I Need?
Using your tax refund to fund the startup of your own business is a good place to start, especially if you will be running it out of your home. With as little as $3,500 down, which is pretty close to the national average tax refund amount people receive each year from the IRS, you can begin your journey as a travel franchise owner.
Though your tax refund may be enough cash to get you started in your home-based franchise, you will most likely need additional funds to keep it open and running while it gets off the ground and begins to turn a regular profit. Fortunately, many franchises including Dream Vacations offer in-house financing options as a more convenient and less expensive alternative to traditional bank loans.
Of course, you’ll also get all the training you need, award-winning marketing opportunities, web-based business tools, and ongoing support when you team up with a franchise company that keeps your best interests as their priority.
Perks of Owning a Home-Based Franchise
There are plenty of perks offered to the owners of a home-based franchise. Financially, investing in your own business can be a lucrative venture. Not only do you alone enjoy the profits, but your home-based business may be also be considered tax deductible, saving you money on your next year’s tax return.
Of course, financial perks aren’t the only reason to start a home-based business. Serving others, through your work, and helping them achieve their own dreams is a very rewarding reason to pursue a career that truly interests you.
Perhaps the number one reason to take the plunge is passion. When you choose a franchise within an industry you enjoy, such as Dream Vacations, your work will never really feel like work. Being able to enjoy the freedom of working during your own chosen hours, whether it be from your bed or on the beach, is perhaps the biggest motivator for people who are living their dreams.
Don’t let your tax refund go to waste. Instead, put it to work for you so you can make your home-based business dreams a reality!