As more and more franchisees enter the industry with a rich and full life, whether pre- or post-retirement from a career, or straight out of college, alternative ways to run a successful business are in-demand. Well loved careers, including family care, educational pursuits, other business engagements, and passions that involve travel are all reasons why many franchise investors seek opportunities that allow for even greater freedom in their daily lives.
Full-Time Franchising Alternatives
A 40 hour work week may be full time for the typical employee, but running a franchise that requires in-person support throughout its course can top that, with some franchisees present at their locations 50-60 hours a week or more. This is usually typical where hiring others to support the location is limited, which can mean that by choice franchisees invest more time into their franchise because they wish to, or the nature of the concept is not conducive to semi-absentee operation.
Not all franchise opportunities that appear to involve at least a full-time commitment actually do. In fact, certain franchise systems promote maintaining an existing career, which makes it possible to enter franchising while maintaining a career you are passionate about. Sport Clips is just one example of a franchise that offers this opportunity to franchisees, with a training system that includes team building support so that new franchisees are prepared to hire a winning location manager and stylists to operate the barber shop on a daily basis. This arrangement, and the comprehensive training package to go along with it, allows franchisees to invest in a business concept that they are passionate about while learning how to put together a team they can trust as they supervise without full-time physical presence.
Know Your Wishes & Ask Accordingly
Potential franchisees performing research or attending discovery days while prospecting can find out much about semi-absentee opportunities in advance. If family, career, or other pursuits will divide the amount of time available for daily operation of your franchise, and semi-absentee opportunities are of interest, it is important to consider a few things as you research franchises.
- Was the concept created with semi-absentee opportunities in mind, with a system that supports franchisees that aren’t physically present each day? If franchisors claim yes, make sure this is demonstrated with proof in the FDD, training, resources, and culture of the system.
- Is the concept conducive to semi-absentee supervision based on your personal skills and limitations, and is the concept compatible with the lifestyle you aim to maintain? An honest appraisal of your own abilities and the sustainability of the arrangement is absolutely necessary.
Home-based opportunities may naturally require less time investment and more freedom, as do online based franchises, which can be appealing. Whether or not these options actually do require less time investment to suit your needs must nonetheless be carefully considered. Home-based and online concepts do not always allow for semi-absentee operation.
Investing in a franchise and a winning team to manage the location while you supervise may be ideal for individuals already familiar with management, or human resources, as well as the running of a business, though this may not be the case. Some franchisees find that the available training and the business concept allows them to use their particular talents and skills to enter semi-absentee franchising without management or business ownership experience. Each franchise is different, whether franchisees are present at their location everyday or not, and each franchisee must consider whether a semi-absentee arrangement suits their goals, strengths, and lifestyle.