Buying a Franchise: Should You Keep Your Day Job?

A Washington Post article yesterday reported on a growing trend of some franchisees that are keeping their day jobs and choosing franchises as a way to create a second revenue stream and as a hedged bet in case of layoffs.

According to the Post, franchise investors that choose a franchise that can be operated remotely generally fall into three categories:? (1) currently unemployed but want to keep their options open in case they get an offer; (2) consultants who want to supplement their income; and (3) the fully employed who want to make money on the side.

Obviously, working a full time job and running another business is challenging ? which is one reason that a number of franchisors do not sell franchises to people who don?t plan to operate the business themselves.? The key to success is finding a great manager for your franchise business who you can trust to run the business without your full time involvement, as well as good back-up support for your manager.

Prasad Raju, an IT architect who invested in a Great Clips hair salon franchise, plans to keep his day job and says he expects the salon to add $40,000 to $50,000 in net income to his personal bottom line.?

Raju said that he plans to keep his day job and is not concerned about managing the new franchise business.?? ?Franchising appealed to me because they have a proven model,? he said. ?If you can execute your model, you?ll be successful.?

To learn more about franchising opportunities, attend our free July 26 webinar, Franchise Ownership as a More Stable Career Path.? The webinar is free, but you need to pre-register, which you can do online by clicking on the linked seminar title.

You may also register by calling 866-246-2884.

Source: http://eauth.com/_blog/The_FRANtastic_Blog/post/Buying_a_Franchise_Should_You_Keep_Your_Day_Job/

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