At Rhino7, many of the franchise brands we represent can operate as semi-absentee business models. But what does this really mean?
A semi-absentee franchise opportunity is one that does not require a full-time commitment on the part of the franchisee. In other words, you do not have to quit your day job to become a franchise owner. In fact, many franchise concepts (including PRO Martial Arts, Scout & Molly’s Boutiques, and All About People Staffing – all represented by Rhino7) accommodate semi-absentee owners who have smaller time commitments to work on the business.
Benefits of Being a Semi-Absentee Owner
There are advantages to the semi-absentee model. A semi-absentee franchisee might spend between 10 and 20 hours per week working on the business – sometimes less, sometimes more. Basically, this type of structure can make it possible for someone to start and operate a franchise on the side, while simultaneously having another job or obligation in the mix. This can create a greater sense of security – both financial and emotional – when starting a new business.
Another advantage is that as a semi-absentee business owner, you don’t need experience in the business model. Instead of being fully hands-on in the business, you’ll hire managers to take that role, leaving you to focus solely on managing management. For many franchisees, this is an attractive and rewarding proposition.
Perhaps the greatest advantage of being a semi-absentee owner is the opportunity to own multiple units of a franchise. Franchisees that aren’t working “in the business” can spend more time working “on the business,” managing managers, overseeing marketing and other key areas, and growing additional units.
Beware the Pitfalls
As attractive as semi-absentee ownership can be, you’ll need to do your homework before deciding if it’s the right fit for you. If you are considering a franchise offering that is a semi-absentee model, be sure to work with a business coach or a franchise development company to help you understand exactly what the business model is for that particular franchise.