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You Can Juggle a Franchise and a Family

Written by: Michael Hemenway

Article Overview: Juggling work and family is very easy with franchising, as the franchisor helps the franchisees with many things. Still, try to maintain a separate timing for business and family affairs.

You Can Juggle a Franchise and a Family

A franchise is a kind of business and business owners are notorious for being “married to the job”! But people starting a franchise have a better chance of being with the family than people who are starting a stand-alone business. That is because franchisees are helped in many ways by the franchisors while an independent business owner has to do everything by him or herself. Still, keeping a balance between professional life and family life is very important even for a franchisee; so here are some tips in this matter:

• If you are starting a franchise because you want to be more with your family, then going for a part-time franchise or a home-based franchise might be a good idea. If you go for a home-based franchise business, then keep a separate time for attending your business during the day. Never receive phone calls or do business-related works beyond that time (unless it’s an emergency). Otherwise, you will end up working all the time!
• Many franchises, especially those that are home-based small business franchises, let the franchisees decide the pace of growth. If you have family commitment, say a small child or a sick parent, then take less work. When your child is ready for school or your parents are better, you can accelerate the pace of your work.
• There are many franchise concepts like Snap Fitness that allows the franchisees to monitor the locations remotely. Responding to such franchise business for sale offers that allows passive-ownership will help you in juggling both the business and family. But, make sure you employ a skilled manager and go for the initial training.
• There are many franchises that work only for fixed times such as cleaning franchises or some catering franchises like City Kitchen. It operates only for a set time in the day, leaving you free to enjoy the rest of the time with your family members.

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Article Tags: better chance, business for sale, business owners, family commitment, family members, franchise business, franchise concepts, franchisee, franchisees, franchises, franchisors, home based franchise, independent business owner, initial training, part time, phone calls, professional life, related works, snap fitness, time franchise



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Re: Enticing Franchises - Top 9 List - All Franchise listed above are in millions of dollars. Do you have the list of Franchise in thousands
Re: Info for would be franchisers... - [quote="Sebastien":1d29sdv1]Like Franchise Times, Franchise Update is a very practical magazine. There is no blah blah, just straight facts that anyone in the franchise community can relate to. I just want to mention that all these magazines are NOT franchisee oriented. I mean these magazines are for franchise professionals. If you're looking to buy a franchise, you won't find much information in there. To answer your question, getting published in Franchise Times was fairly easy. I don't want to brag too much but I think I am known in the franchise industry. I was the marketing guy at Franchise.com for a few years before joining my new company, the World Franchising Network. So people know me and I have a very good relationship with Nancy Weingartner, the Managing Editor at Franchise Times. I was talking with her at the last Franchise Expo South in Miami and she mentioned she'd like me to be profiled. I was like "ok, sure!". I like this franchise executive profile thing in Franchise Times as it is rarely BS. People are usually really natural in there.[/quote:1d29sdv1] Thanks for the follow up Sebastien! And I can't say that I'm surprised that networking with the right people and managing your relationships with them properly are the keys to being published. I guess the old adage holds true of "it's not who you know, but who knows you" that's important.
how much for a franchise fee? - Dear Colleague There is no easy answer to this question. Things to consider: [list=] The sizeof the Franchise Clent base Expected Turnover Intellectual Property costs (recoup) Number of Franchises Number of employees Original Set up costs Franchise admin costs An example: A franchise that I was involved in setting was to a simple "lawn mowing/home repair" franchise. The Franchise included national/local advertising - preparation of client lists - general admin - central accounting etc The Franchise involved 300-500 clients - and an annual turnover of about $300,000 . The annual franchise fee was $30,000. Hope that this gives you some idea Take care Ian[/list]
Re: Franchise Surveys - Another good tool to researching a franchise is to speak with their existing franchisees. This contact information is included in most Franchise Disclosure Documents. In order to get a Franchise Disclosure Document or FDD as it is often referred to, you will have to complete a basic franchise application. The franchisor will then usually provide you with the FDD at that time. Included in that book of information is a list of the existing franchisees, the contract, the investment information etc... This information is required by Federal Law to be disclosed to your prior to making a purchase. So be sure to do your research and start with the Franchise Documents to get the initial information.
Re: Kevin. What happened to all others moderators? - Hi Carol, It's good to see you back. Family comes first. Take your time.


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