As prospective business owners look to make a significant career change from their current job to that of a franchise business, many will ask how to invest in a semi-absentee franchise. Investing in a semi-absentee franchise presents an innovative business opportunity that offers investors the opportunity to build a business with a hands-off approach. Whether you are looking to invest in a semi-absentee franchise to supplement current income, or make the jump into a full-time business opportunity, these five frequently asked questions will help you to determine if a semi-absentee franchise is the right investment for you.
What is a Semi-Absentee Franchise?
A semi-absentee franchise is a business opportunity in which the franchisee takes a limited role in the day-to-day operations of the business. This role usually involves a minimum of 10-15 hours each week. Semi-Absentee Franchisees will typically choose a business that involves limited customer contact and is more of an administrative role, such as a franchise consultant or financial planner. The semi-absentee franchisee’s responsibilities can also include marketing the franchise and performing other tasks that are not customer-facing.
What Type of Franchise is Best Suited for a Semi-Absentee?
The best semi-absentee franchises are typically those that offer a service or product line that can be easily managed with minimal customer contact. These businesses often require little to no physical presence, allowing the franchisee to focus on marketing and business development rather than managing customer accounts. Examples of these types of businesses include financial planning, tax services, real estate agencies, travel agencies, and other consultative services.
What is the Typical Investment for Semi-Absentee Franchises?
The investment cost for semi-absentee franchises can vary greatly based on the franchise model chosen. Generally speaking, the investment cost will include the franchise fee, as well as an additional fee to cover startup costs. For example, some semi-absentee franchises may require a franchise fee in the thousands of dollars, plus an additional fee of $30,000 or more for marketing, signage, and other startup costs.
What are the Benefits of Investing in a Semi-Absentee Franchise?
Investing in a semi-absentee franchise is attractive to prospective business owners who are looking for an opportunity to make a significant career change, without completely upending their current lifestyle. The main benefit of a semi-absentee franchise is that the franchisee can continue to work their current job while building a business of their own. Furthermore, since the franchisee will have limited customer contact, the business can generally be managed with minimal stress and maximum flexibility.
How Can I Find the Right Semi-Absentee Franchise Opportunity for Me?
The best way to find the right semi-absentee franchise opportunity for you is to consult with a franchise consultant from the International Franchise Professionals Group (IFPG). IFPG consultants have access to a wide range of semi-absentee franchise opportunities and can provide you with experienced advice on which opportunity is best suited for your skills and financial goals.