Wouldn’t it be great if you could literally do two things at once?
Well you can, through franchising. I’ll explain.
A Typical Franchise Opportunity
Today’s typical franchise opportunity requires franchisees to be actively involved in running the business.
For example, if you owned a retail franchise business, you’d be involved in things like:
- Ordering products
And most of those duties require your presence on a daily basis.
In other words, you’d be working a lot of hours.
As a matter of fact, most franchise businesses need to have their owners on-site most of the time. But you knew that, right?
Be that as it may, what if there was a way to own a franchise, and not have to be there all of the time?
An Unconventional Franchise Opportunity
I’m going to share a franchise opportunity that:
A. Doesn’t require long hours
B. Allows you to keep your job
The opportunity I’m referring to is a semi-absentee franchise.
Specifically, a franchise business that’s setup to have a manager in place-from day one. As opposed to a franchise business that requires the franchisee to operate the business from day-one, but who can eventually add a manager to assist her in the daily operation of the business.
But here’s the deal: there aren’t a huge number of franchise opportunities available that are truly semi-absentee.
An Example Of A Semi-Absentee Franchise
Fitness franchises such as 24 Hour Fitness are attractive to prospective franchise owners, because in most cases, you can open one of these fitness franchises without having to leave your job.
The reason you’re able to keep a full-time job when you own a fitness franchise comes from the ability for franchisees to hire part-time fitness coaches to help oversee things, and to signup new members.
In this case, the ultimate goal as a franchisee is to own several of them, and leave your place of employment when enough income’s coming in. (And buy even more units if you can.)
Other Semi-Absentee Franchises
Here are several other franchise types that are usually semi-absentee.
- Frozen Yogurt/Ice Cream franchises
- Hair Salon franchises
- Tanning salon franchises
- Vending franchises
- Car Wash franchises
As attractive as semi-absentee franchise ownership sounds, it’s not for everyone.
For example, you’ll need to have above-average financial resources.
That’s because multi-unit franchise ownership is almost always required with these franchise opportunities. For example, if you commit to 3 franchise units, your total outlay could be $500, 000 or more. (Over time.)
Secondly, you’ll need to have a good job. As in, well paying.
That way, you’ll be able to meet your personal obligations as your new business ramps up. Plus, you may find it easier to obtain loans for your future locations.
Going forward, a trend I predict* will be that more and more franchisors will start offering semi-absentee ownership options. Especially if our unemployment numbers remain low, as people won’t want to leave their jobs-but some of them will still be interested in starting businesses.
*Non-U.S. Government link