A semi-absentee owner will be present in day-to-day operations to some degree but will only sometimes be there to oversee how everything is going. Semi-Absentee Owner: This level of involvement, for many, is an excellent balance of the previous two. If you micromanage or can't trust others to make decisions, this approach probably won't work for you. They see the franchise as a financial opportunity and continue to pursue other business ventures while reaping the benefits of being away from the business. Many investors take this path of ownership. They are primarily involved in financing the business, not looking for a career change. They prefer to let the day-to-day operations of the business rest in the hands of trained staff. So don't be surprised as a fully dedicated franchise owner to find yourself often arriving early and leaving late on some days.įinally, you'll be the face of the franchise and have the opportunity to build a rapport with your customers and employees.Įxecutive/Absentee Owner: An absentee/executive owner only spends a little bit of time, if any, at franchise locations. The downside is that you'll have less time to pursue other activities because of the commitment needed to run your business. This full-time ownership approach can also help keep expenses down as there's less need for additional management. It's perfect for those who prefer a hands-on approach. Because you're doing it full-time, you'll quickly gain experience in all aspects of the franchise, from working with employees and customers to operations and logistics.Īnother good reason to consider being present, at least most of the time, is to control your business versus letting someone else do it. They might work alongside employees or be tucked away in a back room, bookkeeping, ordering supplies, or interviewing prospective employees. Owner/Operator: This type of owner has their feet on the ground and their hands in the franchise's day-to-day operations. Let's examine and compare the most popular ownership models to help determine which one is right for you.Įach level offers different responsibilities, time investment, expectations, etc. While being a part-time franchise owner has many advantages, it comes with challenges. Semi-absentee franchising could be your first step in transitioning from full-time employee status to full-time franchise business owner. Managing a franchise on a limited basis allows you to build a business around your lifestyle, career, and other obligations in life. Whatever your goals are, there is an approach that allows you to achieve them. The good news is that different levels of franchise ownership make it possible for you to own one without having to be present 100% of the time. You might even be an entrepreneur who wants to build a franchise empire but also needs time to pursue other business ventures. Maybe you're working a 9–5 job you're not quite ready to leave, or perhaps you're semi-retired and want to slow down to enjoy life. And you may be hesitant about opening one up because you might not have the time to devote to it. However, owning and managing a franchise is easier said than done. Franchising is a great way to take advantage of the benefits of owning a business.
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