How to Keep Your Corporate Job and Own a Franchise

Education is a big part of what we do here at FranNet of DFW & Oklahoma, which we share with clients from all backgrounds and walks of life. While there are plenty of myths about franchising that we like to debunk, one in particular is fairly common – those who think franchise ownership in and of itself is a full-time job. This is both true and false, wholly dependent on the type of franchise ownership you’re looking for. Some clients want to be as active as possible in running the day-to-day operations of the business, typically referred to as the executive model. But there’s another option available to those who can make it work.

What we used to refer to as the semi-absentee ownership model is transitioning to what we now call semi-active ownership. What it means is that even though you’re the franchise owner, it can be a part-time commitment, allowing you to keep the safety and security of your corporate job. In this edition of our blog, we look into semi-active franchising, along with the pros and cons of this particular ownership model.

Many Different Monikers, Same Description

Part-time franchise ownership does have a lot of monikers. This model is often known as semi-absentee, semi-active, or even semi-passive ownership. Regardless of which description you prefer, they all mean the same thing - that your commitment in running the franchise is limited enough for you to pursue other opportunities simultaneously. Though the precise number of hours you still must allocate to running the franchise can vary, most experts agree that anywhere from 10-25 hours per week is a decent benchmark – which is far less than our standard 40-hour workweek commitment.

But Who’s Minding the Store?

All those who choose this limited ownership commitment have one thing in common – the need to recruit, train, and retain a qualified and capable executive to oversee the operation. In the franchising arena, this is known as “managing the manager.” With over 4,000 different franchise concepts in the marketplace today, many require a particular aptitude, skill, or expertise. When you find an experienced manager who knows the business inside and out, you will count on this person to handle the business in your absence. You’ll still be responsible for strategic decisions and oversight, but the day-to-day operations belong to the manager.

Pros of Semi-Active Ownership

Aside from a full-time commitment, there are other pros to exploring the semi-active ownership model. As FranNet of DFW & Oklahoma touched on above, it’s possible to keep your “day job” in the corporate world and consider transitioning to a full-time franchise owner on a timetable of your choosing. It also allows for income diversification and can generate what we in the industry call “semi-passive income”. All in all, you’re methodically growing your wealth with an asset that can be passed down, legacy style.

Cons of Semi-Active Ownership

The part-time ownership model doesn’t come without its drawbacks, beginning with the quality of employees you have minding the proverbial store. It’s extremely important to seek out qualified individuals whom you can trust to make sure the operation runs smoothly. And not every franchise concept is meant to be run part-time – in fact, some actually prohibit the practice altogether. The biggest challenge is knowing it can be hard for others to care about something as much as you care about it yourself.

Before we go, we’d be remiss if we didn’t share another ideal scenario for semi-active ownership. The part-time oversight of a franchise operation can be quite advantageous for enterprise-level business owners who have a portfolio of revenue-generating companies. Franchise concepts are notorious for their proven business models, comprehensive training, and close-knit, ongoing support – which can make them attractive investment assets to add to the overall operation.

If you’d like to explore part-time franchise opportunities that don’t require a full-time commitment, reach out to FranNet of DFW & Oklahoma and we’ll set up a time to discuss options that align with your lifestyle and goals.

Let’s Chat!

If you’d like to know more about franchise opportunities and ownership, please get in touch. FranNet of DFW & Oklahoma is uniquely qualified to match your potential with the possibilities that come from small business ownership through franchising. All you have to do is allow us to be your guide. Our no-cost, no-obligation consultations have helped hundreds of entrepreneurs in North Texas and Oklahoma secure a future that belongs to them and them alone. If you’d like to get started on your own entrepreneurial journey, we’d love to introduce you to a whole new world of possibilities through franchise ownership.