Part Time Franchises UK
A part time UK franchise can help many people achieve their dreams of having a perfect work-life balance of flexible working hours along with a generous income.
Parents that want to spend time with their kids at home but would like to make a bit of extra money, or professionals that have a demanding career and are seeking additional income could be perfectly suited to a part time franchise.
All of the benefits that a full time franchisee acquires can also be enjoyed by part time franchisees. Some of these benefits include full training and assistance, a recognised brand name, established market share and a proven, established system that reduces risk to the franchisee.
In addition, the franchisor understands that the very nature of a part time franchise is appropriate for a work from home business.
Some part time franchises include the following examples:
Vending franchises. An example would be where the franchisee sets up and maintains snack dispensers or vending machines.
Auto franchises. This may be where franchisee drives to the customer to offer cleaning and polishing services and mechanical repairs.
Business accountancy consultancy franchises. This is when the franchisee assists the customer to organise their finances and find out where to reduce outgoings.
Matchmaking franchises. The franchisee offers online matchmaking services for clients by way of their website and also arranges for diverse activities at various locations.
Advantages of UK Part Time Franchises
As alluded to above, there are a number of benefits associated with part time franchises, such as a supplementary income stream, an ideal work-life balance and a relatively low risk business.
Nevertheless, although these benefits sound very promising, a part time business should be taken just as seriously as a full time one. You have to do your due diligence on the franchise in question and don’t be afraid to ask many questions to get all the answers that you need.
For example, you want a part time venture so make sure that it is just that, otherwise you may be working on more of a full time basis
Some UK franchises may be advertised as full time but with a little ingenuity, they could be turned into part time.
For instance, some full time franchises are based on how much work that you are prepared to take on, but if you choose to, you could reduce the volume business to suit your needs.
Another way to make it part time is if you manage one side of the business but employ someone to manage another side of it, the operations side for example.
Assessing Part Time Franchises
Before you invest in a part time franchise, there are some essentials that you should think about to make the most out of them.
Small amount of supplies and equipment. As a general rule, part time businesses don't call for the same amount of tools and equipment or supplies of stock as would full time. This has a double benefit of not having to pay out on expensive items on setting it up, or finding the space to use and store everything.
Not many personnel. Some franchises may require you to employ some staff but most part time franchises mean that you won’t need to.
Low costs: Typically, part time franchises don’t cost a lot to get going. They are also a relatively low risk venture mainly because they don’t necessitate a warehouse or headquarters. This low investment capital allows for the franchisee to make a fast return on investment. An example of this would be an internet franchise where all you would require is a computer, an internet connection and a room to put it in.
Variable working hours. This is your business and you can choose the amount of hours that you want to put in and also what time that you want to work those hours.
How to Get a Part Time Franchise
Talk over the essential elements with the franchisor about the business prior to acquiring a part time franchise. This would involve the total amount of funds that it will require to commence the venture, what kind of assistance and coaching you will be given and what exactly you need to do. Be certain that you find out whether or not it really is a part time and not a full time business.
After that, you should find out if the franchisor is as good as they appear by asking other franchisees to give their truthful opinion. Ask them things like if it really is home based, what kind of profits they are getting and whether it is truly a part time business, not full time.
Although it is a part time venture, it is vital that the hours that you work are ample to be successful, that you are motivated enough to work from your home and that you have a structure in place.
One of the things that you have to be aware of is if the franchise sounds too good to be true. If it guarantees that you will make a lot of profit without any effort on your part, be wary. Although it is a part time franchise, you will need to put in the sweat and exertion.
If you start out with a credible outlook with how much money you can make and the hours involved, you will be a success with your part time franchise.