Looking for something more lucrative than a “side hustle”? You don’t
necessarily have to quit your day job or devote a fill time schedule to
become a franchise business owner. Not all businesses need a constantly
present franchisee at the helm. Actually, hundreds of industries and
opportunities can thrive with a semi-absentee owner with a smaller time
commitment to work on the business. But let’s start with explanations.
What is a Semi-Absentee Franchise?
A semi-absentee franchise is a business concept that an individual can operate while simultaneously having another career or obligation, compared to a full-time business that requires complete effort and constant presence. It’s important not to confuse semi-absentee ownership with partial business ownership. Being a semi-absentee franchise owner oftentimes requires the same amount of capital, time and upfront investments from a franchise owner to get the business up and running, but once it’s operating then the semi-absenteeism begins. Once the business is established, semi-absentee franchise owners typically spend 10-20 hours per week working on the business.
How do these Semi-Absentee Concepts Work?
Many opportunities specifically structure their models to run this way for various reasons, but regardless of the reason, it’s important for prospective franchisees to understand this. Where people tend to get into trouble is when they try to turn a business that is intended to be run by a full-time and try to turn it into a semi-absentee model. For this reason, individuals looking to invest in a semi-absentee franchise brand are advised to contact a Career Transition Coach at The Entrepreneur’s Source to help them to
identify the possibilities that are designed for this model. In the end, it’s important to make sure that whatever possibility you invest in fits with your long-term strategy, ability, and time availability. Brands that embrace this model range from brick and mortar stores to mobile concepts or portable businesses even to vending and kiosk-based investments – the possibilities are vast!
How to Know if A Semi-Absentee Franchise is Right For You?
When contemplating whether a semi-absentee business is the right investment for you, it’s essential to examine your goals, needs and expectations of your investment. Do you want to become a franchise empire builder? Do you want to build numerous possibilities? How much capital do you have to invest? Working with a Career Transition Coach at The Entrepreneur’s Source can help a prospective business owner identify the right questions that should be asked before exploring a model. Prospective franchisees need to consider what will be required with the presented franchise opportunity and if this meets the goals, needs, and expectations of that individual.
Take the First Step on Franchise Match: For those wanting to take
the next step toward the route to self-sufficiency and business ownership,
or for individuals looking to learn more about semi-absentee franchise
brands, complete the simple five-step process on FranchiseMatch.com