“Is possible to keep your full-time job and open a franchise on the side?” This is a common question we as franchise consultants are often asked. Speaking with experienced franchisees in the industry, the answer is yes, of course! In fact, it is becoming increasingly popular for franchise owners to stay with their regular job while beginning a franchise. Those who want to pursue business ownership, or even those who are looking to generate additional income on the side, have found that it is certainly possible to juggle both effectively.
Franchises that require a person to quit their full-time job could be a turn-off for many. It is common that full-time jobs take top priority as it pays the bills and secures a family. Fortunately, there has been a recent growth in franchises that require a lower-investment and can be operated from a home office or executive suite. Businesses of all types are applying what are known as manager-run models to their franchise. These models are built upon the theory that the manager can run the daily operations of the business so that the owner does not need a constant presence. Technological advancements, including internet-based tracking systems, have made it easier for franchisees to monitor their business from a far. What many do not realize is that franchises still play an active role in their business, but this type of role will dominate less of their everyday time.
Client, Mark Reischer, recently opened a Healthy-U vending business, entitled Mark Vending LLC, while keeping his full-time job as a Golf Professional at Doral Golf Resort. It was important to Mark to find a part-time business opportunity that he could start small and manage on his own. He decided to purchase five vending machines to be distributed within driving distance in South Florida.
Mark explained that one of the best things about keeping his job while starting his business was that he had the flexibility to wait for the best location opportunities for his vending machines. Since he had a steady income, he was able to hold off and be particular about where they were placed. “You need to realize that steps are going to take much longer when you do something part-time. For me, this worked to my advantage because I didn’t have to jump into anything.”
“People should know that managing a job and a business on the side is serious work and you must do your research. Call around and ask for any kind of feedback,” Mark said. He went on to advise, “Find something that will allow you to still have time out for yourself. Having a work-life balance is important.”
There are many reasons people feel more secure keeping their steady job while venturing off into business ownership. If you believe this type of opportunity could be for you, contact a Franchise Consultant today.