Become a franchise owner while keeping your day job
The Semi-Absentee, Multi-Unit Ownership Model
One of the biggest trends in franchising today is the semi-absentee, multi-unit model. Many people refer to this as "the best of both worlds" or "having your cake and eating it too."
Semi-Absentee Franchising
Many franchisors have designed their business model to be suitable for semi-absentee ownership. A semi-absentee franchise is one you can launch and own while holding on to your job and/or other obligations. Contrary to a business that requires you to quit your job and devote your full-time attention to operations, this ownership model typically requires only 10 to 15 hours a week of your time once it’s fully up and running. Your role as an owner is to provide executive leadership, coordinate administrative functions, and set long-term strategy, while the manager you hire oversees day-to-day matters. Of course, you can always put in more time and effort if you prefer to work in the business full-time and eliminate the cost of hiring a manager.
Multi-Unit Franchising
Historically, single-unit franchises have been the bedrock of franchising. Typically, an individual or pair of spouses looking to own a business would invest in and operate a single franchise unit. This was the dominant form of franchising for the better part of the last 50 years.
However, over the last 20 years multi-unit franchise ownership has increased in volume, power, and influence. Since the 2008 market downturn, multi-unit franchising has become an especially popular choice for those looking to protect and grow their wealth.
While purchasing multiple units of a franchise requires a larger investment, it also provides greater stability and a higher success rate. This is because any risk is spread across locations and savings arise from efficiencies of scale. In addition, franchisors often offer reduced fees as an incentive for multi-unit ownership.
Top 5 Reasons to Pursue Semi-Absentee, Multi-Unit Franchising
Diversify your sources of income
Own a business without giving up your day job
Build wealth and equity
Involve your family in the business
Own a business that can support you in retirement