There are many franchise owners who find their life goal in business ownership. It’s their 9 to 5 (and then some), and it’s considered to be their full time gig. Then there are those who want to own a business, but don’t necessarily want to be married to the business. There are two kinds of franchisees, and where you fall simply becomes a matter of preference. But the important take away is that just because you own a business, doesn’t mean you have to live, sleep, and eat that business. You can do it on a part time schedule.
If you’re interested in becoming a part-time franchisee, there are a few routes that you can take. One is to become a part owner and work with others. In this scenario, before working into any financials, you and your business partners will set up a schedule. They’ll work X days and you’ll work X days. Perhaps you each fill in part time hours each day. Maybe you divide and conquer different responsibilities. The main point is that all involved are happy with the schedule and working the days they want to work, not feeling trapped or that they can’t step away.
You can also hire managers or workers who are on-site more often, allowing you or any business partners to remain more hands off with your franchise location. However, this option usually requires a bigger time commitment until the business can get up and running and off of its feet.
The “Work When I Want to” Franchisee
Another route with your franchise location is to choose a business model with a lower overhead, or wherein you don’t need to be tuned in so many hours of the day. Even as a sole owner, you can work part time by providing a weekend service, selling products from a remote location, or even working from a vehicle. Consider businesses that remain mobile: they’re only open when they choose to be.
More hobby-based brands are likely to succeed on part-time hours, allowing you to work when it’s busy, and take off when it’s not.
If this is a goal with your business ownership, be sure and discuss with your franchising brand from the get-go. They can offer advice on best working practices, how you can stay true to your preferred times, and how to still remain profitable.
You can certainly hire hourly employees to help keep things running while you’re away, but keep in mind that this essentially keeps you “on call” for anything that might go wrong. Ultimately, you’re responsible for your employees and how they perform, and in the event that someone can’t show up, you risk either losing business, or giving up whatever you had planned that day.
However, franchise ownership is give and take. With careful planning, you can pool your best outcomes and create a setup that you will most enjoy.
Franchise Business on the Side
To get started with your side-gig franchise location, start researching business models. Look for brands that have lower startup costs, low overhead fees, and that do not necessarily require you to be open during “normal” business hours.
Think mobile, location-centric businesses, or service businesses wherein you can book during available timeslots. You can also consider franchises that teach a class or some type of hobby. Look closely at the business model to ensure it’s something you will enjoy doing on a part time basis, and something that will help draw in dollars. After all, a side gig is still a form of income; hobbies can lose money, but franchises bring it in.
Whatever you choose, franchising as a side job is more than possible – whether you plan on sticking with your full time gig indefinitely, or want to eventually switch to a full time franchise owner.
With smart planning and following your wishes closely from the get-go, you can make your business ownership dreams a reality..