By Dan Citrenbaum
Did you know that there are franchises designed to generate full-time income, with only part-time hours? We usually call these businesses “semi-absentee”.
There are some franchise companies that have hundreds and hundreds of franchisees who earn six figures, but rarely work more than 15 hours per week. One example is Great Clips Hair Salon. The average salon makes a profit of more than $60, 000. The average owner owns four salons. Do the math – the typical owner of a Great Clips Hair Salon makes a very good living. But ninety percent of owners work twenty hours per week or less.
With more than 3,000 franchises, and a 98% rate of success, Great Clips can be an ideal semi-absentee franchise.
But there are others, and in many different types of business – clothing retail, automotive, financial services, sports nutrition, fitness, moving and storage are just some of the semi-absentee franchises.
The right business can earn $200,000 or $300,000 or more for the owner. And the owner might only work ten to fifteen hours a week.
Who tends to own a semi absentee business? There are usually two types of people.
Some people start a semi-absentee business while they are employed. Maybe they are dissatisfied with their career path, but don’t want to leap into business ownership without a safety net. So they start a semi-absentee franchise.
While they keep their day job, they watch the business grow and prosper. When the business earns a large enough profit they can confidently leave their job, knowing their franchise will continue to supply a nice pay check.
Other owners include individuals who have retired from corporate America. But at the age of 65 they are not ready for a rocking chair. They still have plenty of energy to build a business – not to mention desire to continue making money.
So they start a semi-absentee franchise. The part-time schedule allows them lots of leisure time for traveling or hobbies. At the same time, the successful business they build provides plenty of earnings. Not a bad way to start one’s golden years.
So, yes, there are many part-time franchises. If you want to earn a lot while not working a lot, there might be a good one for you.
Dan Citrenbaum is a Franchise Coach and Entrepreneurial Consultant, and is a franchisee himself. He has spent over 25 years helping small business owners start and grow their businesses, in order to achieve their dreams. He offers a free service to help people find an existing business to buy, or a successful franchise to start. View his company’s web site at www.EntrepreneurOption.com Mr. Citrenbaum can be reached at DCitrenbaum@gmail.com or at (215) 367-5349.