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Running a Franchise While Keeping Your Career!

Running a Franchise While Keeping Your Career!

Something that is possible with franchise ownership that may not always work with a start-up business is the ability to maintain your career while you run your business. Although many franchisees rely on their business unit as the basis of their revenue stream, there are more people interested in buying a franchise to generate a second source of income. A flexible franchise option makes this a possibility and can afford some opportunities that other franchises cannot.

Franchise Owner Profiles

All kinds of people that come from different backgrounds with various goals are interested in buying franchises. The individuals that are interested in being a part-time franchisee want the benefits of owning a business but want to invest in a franchise that doesn’t take over their life. People that want to be involved in a part-time franchise opportunity typically fall into one of the following four categories:

  • A good portion of their time is consumed by a career but they would like to make additional income on the side.
  • They may be involved in freelance work or business consulting and want to add a steadier stream of income to their overall revenue.
  • They are not currently employed but don’t want to commit all their time to running a business.
  • They have recently retired and would like to supplement their retirement income without taking on a full-time venture.

Keeping Your Day Job

It is becoming more and more common for franchise owners to keep their day jobs as they run their franchise. Whether they are looking to generate additional income or create more security for themselves it is possible to achieve this while running a franchise part-time. This does not mean that you won’t have an active role in your business. Instead you will be taking on a role that dominates less of your time.

While this is not possible with all franchises, numerous companies apply a manager-run model that does not require the constant presence of the owner. This makes franchise ownership simpler and allows the franchisee to keep their current job and the option of opening new franchise locations in the future. These types of franchises will also typically receive a good deal of support from the franchisor.

The ability to run a franchise with a reduced number of hours spent at the business unit is a relatively new concept and the demand for this type of franchise is growing. Technological advances have supported this shift and have made it possible for franchise owners to keep track of their business from a distance. Whether you are interested in growing your income, building your financial security, or starting a new business venture with a part-time commitment then investing in a franchise may be the thing for you.

Author Bio: Orlando Rivera is an authorized internet marketing representative for Supercuts, which offers low cost franchise opportunities. In addition to being an avid rugby fan, he is also very competitive when it comes to participating in dog shows with his bulldog Gordo.

Developing Trust in the Sharing Economy

2000s. We’ve started to ‘share’ and trade our materials. The sharing economy is part of our daily life; from the photos we share on Facebook, the couches that host travelers at night, to the TV show marathons we watch on Netflix. What began as a technology shift providing efficiency in our communities, is now an industry filled with multi-billion dollar companies.

Searching for the Best Franchises for Minorities

Many franchises incentivize minorities to join their systems. As president of the World Franchising Network Rob Bond puts it, these franchises "grease the skids" on behalf of minority candidates because they see value in promoting diversity among their franchisees. On account of a still-languid economy, however, many franchisors' approach has changed significantly in recent years. As Bond explains, “African Americans and Hispanics were being aggressively recruited five years ago to fill vacancies.” But today most franchisors are more concerned with trying to grease the skids for foreign investors with significant piles of investment capital.

5 Start-Ups That Make Us Thankful

Friends. Family. Food on the table. Yeah, yeah, yeah, all good stuff to be thankful for. But what about the really important stuff? All the sites and apps that make our lives just a little bit easier and bright? This year brought with it some innovations we didn’t even know we needed, like a site that tells you exactly which three minutes you need to watch of a football game to get the best of the game. So here are five wonderful start-ups to be thankful for this Thanksgiving.