Learn More About Investing In a Franchise
Are you a professional looking to leave the corporate world and needing help finding a franchise business investment you can run full-time?
Most franchise companies would prefer to find owners that can commit themselves to their new business venture full-time. Fully involved franchise owners statistically yield better long term results and profitability in their business. Which is logical given that you are taking the place of a full time manager/director/project manager. While many franchise offerings can be defined as “buying yourself a full time job as a self-employed professional” most want to see you grow the business so that you are working “on” the business more than working “in” the business. All that being said, it’s not at all uncommon for franchise owners to focus their efforts on behind the scenes work, marketing and managing the manager. Frankly, your ability to scale your business is predicated on eventually getting out of the day to day operations and focusing on long term growth activities. Full-time franchise ownership can often cost less than formats more friendly to semi-absentee ownership. You’ll still want a minimum of $50,000 of personal liquidity to invest in the business, and most options will run you less than $200,000 to get started.
Are you a professional seeking a franchise business opportunity as a secondary source of income?
More and more professionals these days are looking for an opportunity to augment their full-time salary with a secondary source of income through business ownership. There has been a significant increase in franchisors who are modifying their operations to embrace this demand for semi-absentee business ownership. Many were already ideal for the part-time owner, like fitness, home services and certain categories of retail. While semi-absentee ownership typically comes with higher payroll expenses – after all someone does need to run the day to day operations – this approach also lends itself to faster growth and multi-unit ownership. Semi-absentee owner friendly franchise options typically cost a bit more to get started, so I recommend a minimum of $100,000 of personal liquidity and preparation for an an all-in investment between $250,000 – $800,000 for a single unit/territory.
Is Owning a Franchise Business Right For You?
Take this free survey/assessment to find out…