Be curious, not judgmental

Franchise ownership has changed. You can keep your job and still create a diversified income stream and build equity. Easy? Of course not. Be curious, not judgmental.

Many franchises have been built with semi-absentee ownership in mind. Note that these franchises are semi-absentee; not absentee. Curious? In each case the owner will oversee a manager, ensure that the franchise systems are implemented, and watch key performance indicators.

?Semi-absentee franchises can be very different. Some may require owner involvement 15-20 hours per week while others much less. Some may enable owners to devote their time mostly during evenings or weekend; others may require that the owner be available during normal working hours, Your job flexibility is an important factor.

?Still curious?

?Many semi-absentee franchise models are location based and therefore require a larger total investment. These franchises require retail space and must be built out to meet specific needs and may require specialized equipment. Examples include fitness, schools, massage, health care facilities. Other semi-absentee franchises may be home based and therefore less expensive. Once again it is essential to understand the specific role of the semi-absentee owner and to validate the amount of time semi-absentee owners are actively working in the business. A few examples including health care, pet services, educational enrichment, and coaching.

?A newer “managed services” investor model is growing in which franchise companies run day-to-day operations utilizing a management company for an additional fee. Owners meet with the management company just a few hours monthly. ?

With all businesses, a thorough research process is crucial to empower you with the facts and data to make knowledge-based decisions. An efficient professionally guided due diligence process should include multiple conversations with franchisors, franchise owners, review of franchise disclosure documents, site visits, and review with professional advisers.

Here are examples of a few questions that might not be obvious for prospective new business owners: How many franchise owners are operating on a semi-absentee or managed services basis?

?For how long?

?How many franchise owners have opened and later decided to purchase additional territories?

?How did the franchisor help their franchise owners during the pandemic?

?What ongoing training and support is provided after initial training?

?What differentiates this product or service from competitors?

?Are there franchises operating in similar markets?

?Are there franchise owners who had similar professional backgrounds to my own?

?If you’re still curious and not judgmental, let’s have a 10 minute, no-pitch, conversation to answer your questions.?

Schedule a call