What is the best part time franchise? Don’t despair!
There are so many variations on how to search for a part time business with low investment… Many small part time business ideas came into fruition after searching through the part time business for sale segments on the BFA website. BFA stands for the Business Franchise Association.
Go out and research exactly what is available and which industries are in line with what is available locally. If a customer was looking for a particular service, how easy and accessible is it going to be to find it?
Part time opportunities are out there. Not everyone wants to start out with a full time business. One way to start out is by staying in full time employment and starting a part time home based type to see how the land lies and get a feel for becoming a business owner.
Even the best part time business ideas can take up a great deal more time than anticipated. It is not a good idea to choose to work with a franchisor who wants a full time commitment when in reality there are definitely part time small business opportunities available.
The pros and cons
Let’s look at the pros and cons of part time options. The meaning of pros and cons is of course, for and against, or advantages and disadvantages.
There are many advantages of a part time version. There is the benefit of customers already recognising the brand name. A training manual or prepared guide will be available to work from. One of the stipulations of a BFA franchise is regarding the location or territory, there is going to be enough business to make it viable.
The company owner has already considered what works and what doesn’t work. Someone will be on hand to help, whether it be online, or someone to discuss issues face to face.
One of the disadvantages of looking for part time business is how to know the other franchisees are holding up their end of the bargain.
Will one recruit give the whole business a bad name? Other disadvantages…What about fees? There is an upfront fee to buy it, but once the business is up and running, there are also ongoing fees.
Also, those guidelines that were such a help in the beginning are there for a reason. One franchise should be the same as the next, so no tweaks or changes, and that can be one person’s friend and another person’s nightmare!
Reading this article about part time franchises and part time business with investment of less than £15,000 gives some indication that you are looking for some extra income, and searching for the part time aspect, it stands to reason that you are already doing something.
So, make sure the opportunities you investigate work with what you are currently doing. Will there be times when you are not available? What are you willing to sacrifice? How much are you willing to invest and how much extra are you hoping to earn? These considerations will help to pick the right match for you.