Can you open a franchise while working another job?

Can you open a franchise while working another job? It really depends on the franchise, but yes, it is possible in many situations. You’ll find some franchises have a semi-absentee or absentee model. The semi-absentee model means that the owner doesn’t need to put in as much time throughout the week as if they were fully running the show. Instead, these models rely on hiring staff to handle the day-to-day. You would manage the supervisor left in charge and need to check in periodically during the week. This might require that you put in anywhere from ten to twenty hours weekly, depending on your situation and the franchise. Now, an absentee model would allow you to be even less involved in the daily operations.

Taking a closer look at the semi-absentee model, this could work well for someone who isn’t ready to give up their current job but would like to bring in more income to build wealth and save for retirement. It may be something that the person decided to do until retirement or just until their franchise was succeeding and they felt ready to quit their job. This would also be a good model for those who wanted to make more investments or just wanted to free up their time to do other things, allowing them to only work ten to twenty hours in a week.

Just think, if you have the capital and you’re ready to give up your full-time job, starting a franchise that has a semi-absentee model would allow you more time for your hobbies and your family. Now if you’re not ready to quit your job, it also allows you the opportunity to start your franchise on the side, you could put in a few extra hours while you built up your franchise, then eventually quit your full-time job. Or, you could continue to do both. That’s one of the benefits of franchising, there’s some flexibility to choose what works for you.

While the semi-absentee and absentee models work well in certain circumstances, you’ll find several franchises also have an owner model, which would require you to be more involved and hands-on. This model would be difficult to do while working another job. But, if you find something that you’re passionate about and has the potential to earn you greater income, it may be worth exploring the opportunity and considering quitting your 9 to 5 job.

When it comes down to it, you have options when it comes to franchising. If you’re considering doing it on the side or going all in, it’s best to talk with an expert who can help you determine what’s the right fit for your situation. Give us a call at (888) 352-9779 today and we’ll be happy to answer any questions about franchising that you might have.