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Investing in a Part-Time Franchise

Guest post by: Nick Strong

Article Overview: If your lifestyle is such that you have difficulty in working full-time, a part-time franchise business may well be a good option for you, especially for those with a young family or other personal commitments. I look at a few types of part-time franchise and how best to make informed choices when taking on a franchise.

Investing in a Part-Time Franchise

Opening a part-time franchise system can be a fantastic way to supplement an existing salary or is specifically suitable for people who could do with flexibility of working hours for example people with a young family. If your time is limited, and you may find working in a full-time employment unrealistic, then a part-time franchise opportunity may well present you with a method to earning income without giving up your existing family or personal commitments.

Even though a good number of franchise businesses necessitate a full-time approach of working commitment, there are a collection of opportunities which match the ‘part-time’ type of business:-

Pre-School Music Clubs

During recent years, childrens music club franchise businesses have turned out to be all the rage. Quite alot of these are aimed at providing an entertaining education setting for pre-school children through music and singing. The characteristics of these franchises require that they can run throughout school hours which is a great chance for those who have family commitments such as dropping off and picking up their offspring from school. These variety of franchise opportunities can usually fit in with school term times also providing extra give and start up costs are often extremely attractive. If you take pleasure in working with kids, and could do with a franchise system that can tally in with a household lifestyle then these can be a good match.



Dating Franchise businesses

Some dating franchises can additionally be operated as part-time business types. These are quite often evening or weekend event type businesses which once more can be valuable for individuals with kids as they can potentially be run outside of typical monday to friday working day periods when a significant other may be free to look after the kids. Any paperwork can of course be done through school times.

Investing in a Part Time Franchise

Above are just a number of of the businesses you could ponder but before investing in a part-time franchise opportunity, make sure you have considered financing selections with your bank as you could likely require finances to take on your franchise opportunity unless you already carry a quantity of personal savings capital. The franchise departments of the key high street banks can potentially be a helpful source of business information on the franchise system that you might be researching. Make time to enquire if they have any knowledge of the franchise.

As soon as you distinguish what you can come up with the money for, make an appointment to pay a visit to the franchisor so that you can check out their operation, support setup and head offices. Bear in mind that you will be in business with these people on a continuing basis so make sure you feel comfortable and at ease with them. Also, obtain a listing of their franchisees as references and take some time to chat to them to get some important feedback in relation to how the franchise opportunity operates for them every day.

Confer with a professional franchise legal advisor to make sure you will have all the options covered when it comes down to signing any franchise business agreement. You want to be confident that you are completely knowledgeable of the legal connection you might enter into with the franchise owner. As soon as you have made your selection, commit yourself to following the proven system and get pleasure from the advantages and lifestyle of running a part time franchise.

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Article Tags: franchise, franchise opportunities, franchses, part time franchise



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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]
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Re: Info for would be franchisers... - [quote="Sebastien":2gam0klq][quote="BuzzAroundBooks":2gam0klq]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.[/quote:2gam0klq][/quote:2gam0klq] That is really what I look for in any industry publication. We lead busy lives and when people fill their magazines with fluff, not only does it benefit no one, but it makes us truly appreciate those that don't. Thanks!


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