Franchise Business Ownership for Parents
Whether it’s as big as the school play, or as simple as the drive home, missing important moments with your kids is difficult for working parents. At the same time, paying the mortgage, building a college fund and planning for retirement are non-negotiables.
Many parents with that entrepreneurial spark have found that franchise business ownership is a great answer. It gives them the freedom to be their own boss while providing a substantial income to support their family.
Of course, not all franchise opportunities are created equal for a busy parent. Here are some guidelines for selecting the right opportunity:
- DO find out how much of the day-to-day you can turn over to a qualified manager, so that you can be flexible with how much time you actually spend on-site. Pick an opportunity where you can hire professional employees to execute the services while you concentrate on growing your business.
- DO be thorough in evaluating franchisor support. Franchisor business support is why so many parents choose franchising in the first place. Look for intense support up to the grand opening, and then ongoing support in all areas – operations, training, marketing and business growth. And be sure to call a number of current franchisee-parents to find out what the business you’re looking into is really like on the ground.
- DON’T get tangled up in inventory. Inventory-based businesses require intensive management. Dealing with deliveries, product loss and market fluctuation demands lots of attention. Save yourself the headache; stick to a service-based business.
- DON’T get calls at all hours. Consider the hours of operation. Every hour that the business is open to customers is an hour that you could receive a phone call. As a parent, you get woken up at 2am enough already!
Of course, Kiddie Academy has been a great choice for parent-franchisees.