Many people like the idea of part-time business ownership because it offers the benefits of an income stream, as well as increased flexibility and independence. If that’s you, you may want to explore semi-absentee franchise ownership.
A semi-absentee business is one a person can own and work 5-20+ hours per week managing operations; in most cases, the owner manages the day-to-day manager(s). At the other end of the continuum is the owner-operator model, where the owner manages day-to-day operations, which may or may not include employees and managers.
People who own this franchise model do so for one or more reasons, including:
- They want to grow a business on the side while employed.
- They want to grow a business as part of a portfolio of businesses.
- They’re retired/semi-retired and want to keep their hand in the business world—on their terms.
- They want to build an empire.
- They want to help their adult children or others own and/or operate a business, e.g., they acquire a franchise and then share or transfer ownership over time, opting to stay actively involved or to be a passive investor.
What types of franchises fit this model?
A growing number of franchises are designed to be semi-absentee from the beginning or to evolve into that model after the startup and initial growth phases. These franchise concepts include brick and mortar) to mobile/kiosk to consumer services to consulting/advisory.
Why not semi-absentee?
This model may not be the right fit for you if:
- your total investment in a franchise won’t allow for the added overhead of a management level, which can also stretch out the time to reach break-even in the startup phase;
- you’re a confirmed hands-on person who’d be frustrated by not managing day-to-day operations; or
- the franchise really isn’t designed to be—or to evolve into—a semi-absentee model.
Semi-absentee franchise concepts are hot, and demand for them continues to grow. Fitting the owner’s management style to the business model is critical. For that reason, it’s a good idea to work with a franchise consulting professional to decide whether the model is right for you, and then to determine which concept is the right fit for all involved.
Why FranNet MidAmerica?
Exploring business ownership requires assessing information about a market, as well as navigating means for securing funding. In the franchise world, there are many concepts in a variety of industries. All this information can be overwhelming.
At FranNet MidAmerica, we’re franchise consulting experts who serve others in all aspects of business. We use proven, proprietary procedures to match people with the right business opportunities to meet their personal, professional and financial goals. We know the franchise industry, we live in and know the area, and we’re entrenched in the region’s entrepreneurial community. Let us help you on your journey to becoming a small business owner.
Take advantage of our no-cost consulting services, including taking our personal assessment to see if franchising is right for you.