Having the opportunity to stay home and raise a family can be an incredibly rewarding decision – although it comes with its own set of challenges and concerns. For those stay-at-home parents who are now looking to dip their toes into the world of business ownership, franchising can be an empowering and cost-effective way to start their own business on their own terms.
The International Franchise Professionals Group (IFPG) is a membership-based franchise consulting network with more than 1,300 franchisors, franchise consultants and vendor members. Our purpose-driven mission is based on integrity, ethics and collaboration, and our franchise broker group members guide aspiring business owners through the process of identifying and investing in franchise businesses.
This article will focus heavily on frequently asked questions (FAQs) and will help stay-at-home parents understand the ins and outs of franchising opportunities in their local communities. We’ll address questions such as what kind of jobs can stay-at-home parents find in franchising, what sort of resources are available to help them get started, and what are the rules and regulations that need to be taken into consideration when selecting a franchising opportunity.
What is a Franchise?
A franchise is a business opportunity in which a founder (or ‘franchisor’) licenses their trademark, logo, products, and services to an independent entrepreneur (or ‘franchisee’) for a predetermined fee. The couple then collaborates to own and operate a business that offers products and services under the franchisor’s brand name.
The franchisee benefits from the franchisor’s resources, support, and guidance while having the freedom to be their own boss. Franchising also has specific advantages such as reduced start-up costs and easy entry into popular markets.
What Kind of Jobs Can Stay-at-Home Parents Find in Franchising?
Franchise opportunities are wide-ranging, and there is something to suit nearly every professional interest – from retail and food to services, healthcare, and telecommunications. Depending on the franchising opportunity that the stay-at-home parent chooses to pursue, their daily tasks could include customer service, inventory control, accounting and bookkeeping, marketing and promotions, staff training and development, and more.
While the specific tasks associated with each franchise opportunity varies, franchisees are generally expected to serve as leaders, entrepreneurs, and problem-solvers. Many franchises also offer flexible schedules that works for stay-at-home parents; for example, many franchisees are able to adjust their hours to fit around their child’s school or daycare schedule.
What Resources Are Available to Stay-at-Home Parents Looking to Pursue a Franchise Opportunity?
The IFPG’s network of over 1,300 franchisors, franchise consultants, and vendor members provides an array of resources to help stay-at-home parents identify the right franchise and protect their investments. We offer a wide range of support services from financing assistance to providing access to industry events and workshops.
Our team also provides resources to help stay-at-home parents create a successful business plan, manage finances, analyze the market and competition, and develop their marketing strategy. Moreover, IFPG refers prospective investors to trusted franchise brokers throughout the United States and can provide access to qualified local franchise attorneys and a variety of financing options.
What are the Rules and Regulations for Franchises?
With any business venture, it’s important to make sure you’re following the rules and regulations. Rules and regulations for franchises can vary from state to state, so depending on where the stay-at-home parent is interested in pursuing an opportunity, they should make sure to research the applicable laws and regulations.
Generally speaking, all franchisees must adhere to the terms outlined in the franchise agreement, which outlines the expectations for both franchisor and franchisee. It’s important to review and understand the agreement prior to committing to a business opportunity – and keep in mind that the big picture doesn’t always remain the same throughout the life of a relationship. Different circumstances may require updates to the franchise agreement, so always check in with the franchisor to ensure everything is in order.
Franchise opportunities, both established and new, are growing in popularity among stay-at-home parents looking to re-enter the workforce. By seeking the advice and support of organizations like IFPG and researching the applicable regulations in your area, it is possible to confidently enter the business world.
We hope this article has helped equip stay-at-home parents with the information needed to select the right franchise opportunity for their needs. As always, IFPG is here to help aspiring business owners understand the process and start turning their business dreams into reality.