If you’re looking to work part-time while running your own business, a franchise can be a perfect solution. Let’s explore some part-time business ideas and what you need to consider…
A franchise is often described as ‘a business in a box.’ It’s a start-up business that has been successfully launched and grown elsewhere, where its owner decides to sell the concept on to other entrepreneurs.
There are all kinds of opportunities on offer, many of which work as part time or home based business ideas.
Once you’ve found a franchise opportunity that interests you, you’ve researched the market and had positive conversations with the owner, you pay a set amount to buy the franchise.
You’re then given lots of support to help build and market the company.
There are many part time businesses for sale in a wide range of locations and fields. A quick look on our franchise opportunities page brings up all kinds of opportunities, many of which are centred around children and parenting, but also span administration, travel, food, pets and much more.
As with any small business the more time you’re able to put in, the better – but many opportunities, particularly the small franchises for sale, will work for parents on a part time basis. The secret is to narrow down the field you’re interested in and explore opportunities from there.
Franchises are available for most budgets. There are many franchise opportunities under £5k, for example, while others can reach £20k and more. Yet some part time franchises for sale cost just a few hundred pounds.
While most franchise businesses will require certain skill sets – admin skills, catering experience or childcare, for example – there are some generic skills and attributes that every successful franchisee will have.
The most important skill is to be a good listener. You need to pay close attention to the franchise owner and adopt their systems and processes. Remember, they’re tried and tested – there’s no need to reinvent the wheel.
You need to have a certain head for figures, to be able to manage the income coming in and going out – although a good accountant can help with this.
Finally, people skills are very important – both in working with the franchise owner and adopting their approach, and in building new relationships to get the business established.
Once you’ve found a franchise idea that appeals to you, you should think carefully about how it will work in reality.
The most important element is to look at how you will balance the business with your family life. Don’t assume that you can work from the kitchen table with young children around.
Building a business takes commitment and dedication – most people find it’s easier to work when the children are at school or childcare, or in the evenings when they’re asleep.
Also think about whether it would be practical for you to run a home-based business; will you need proper premises, or at least a home office? And while running a franchise part time is exciting and rewarding, it can also be stressful, especially in the early days. Be realistic about the additional worry this could add to your life.
Our franchise pages feature case studies of many people that have taken up franchise opportunities part time. Take a look for honest advice and tips to give you the best part time franchise experience possible.