Can You Become A Part-Time Franchisee?
by FranchiseKing, Guest Blogger
- Created: July 3, 2012, 9:31 am
- Updated: January 3, 2013, 3:46 pm
Is it possible to find a legitimate franchise opportunity that only requires a few hours a week to run? And, if you do find a part-time franchise, can you make enough money for it to be worth your up-front investment, and of course, your time? Let’s find out.
First off, it’s important for you to be able to distinguish a true franchise-type of business, from a non-franchise business.
In most cases, franchise ownership offers:
· A proven business system that’s easy to replicate
· A formal training program
· Proprietary software and technology
· Marketing and advertising tools and systems
· A support team
· Formal and lengthy contracts
· Protected territories
Business Opportunities, or Biz Opps, as they’re sometimes called, aren’t very structured when compared to a franchise business. You won’t usually find territory restrictions with a business opportunity, and there are no royalties.*
In addition, the total investment amount is usually less than a franchise business.
While there may be training, and even some marketing tools, the support structure isn’t as tight as it is with a franchise business system.
(It's not because purveyors of Business opportunities are mean-spirited people that they don't supply a tight support structure. It has to do with the business model; in a Business Opportunity, the investment amount is collected up-front. There’s no royalty-stream coming in that could support a lot of well…support, in this type of business set-up.)
There’s another type of non-franchise business that’s worth mentioning here; Network Marketing businesses. Also known as MLM’s (Multi-Level Marketing) these businesses are almost always marketed as “Part-Time Opportunities.”
There isn’t enough space here for me to go over all the pros and cons of a Network Marketing business. Suffice to say, there’s a plethora of information available, including an article I found over at FTC.Gov that defines Network Marketing businesses in easy to understand terms.
Part-Time Franchise Opportunities
While the thought of owning a franchise that doesn’t require a full-time commitment may be appealing to you, the reality is that there are very few franchise concepts around that fall into that category. Most franchises are designed to be owner-operated, with the owner on the premises.
But, if you do have your heart set on investing in a franchise that can allow you the flexibility to not be there all the time, know this; you’ll probably need deep pockets. That’s because most of the franchises that tout things like “flexibility” in their marketing methods are multi-unit ownership opportunities.
In addition to the promise of flexibility that several franchisors offer their franchisees, there’s another option offered in the franchise marketplace that may also have a nice ring to it for you. Ready?
How would you like to keep the job you have while you start a franchise business?
Right off the bat, it’s very appealing, cash-flow wise. That’s because if you can keep your day job while launching a new franchise business,* you’ll have cash coming in-via your paycheck, and that can really give you some breathing room.
To summarize, if you have a pretty sizeable net worth, want a lot of flexibility, and like the idea of maybe being able to keep your current job while your new business launches, there are opportunities available in the franchise marketplace.
*Non US-Government links
About the Author
The Franchise King®, Joel Libava, is the author of the book, Become a Franchise Owner! He's also a franchise ownership advisor; Joel teaches people that are interested in franchise ownership how to properly select and carefully research franchise business opportunities so they can increase their odds of success.
Top Rated Articles
About This Blog
Views from small business experts on growing your business
- December 2013 (8)
- November 2013 (26)
- October 2013 (17)
- September 2013 (24)
- August 2013 (21)
- July 2013 (26)
- June 2013 (24)
- May 2013 (29)
- April 2013 (29)
- March 2013 (27)
- February 2013 (26)
- January 2013 (30)
- December 2012 (24)
- November 2012 (29)
- October 2012 (26)
- September 2012 (29)
- August 2012 (26)
- July 2012 (29)
- June 2012 (25)
- May 2012 (33)
- April 2012 (35)
- March 2012 (36)
- February 2012 (35)
- January 2012 (30)