How to spot franchise opportunities for a good lifestyle

by Sarah Stowe | Editor | Franchising magazine
How to spot franchise opportunities  for  a good lifestyle

Sarah Stowe | Editor | Franchising magazine and www.franchise.net.au

Many people consider becoming franchisees to improve their lifestyle options. Sarah Stowe offers her expert insight into what issues to consider in choosing among the various franchise options that are available.
How to spot franchise opportunities for a good lifestyle

Franchise opportunities for a good lifestyle – isn’t that everyone’s dream? The opportunity to run your own business with a back-up team of experts in marketing, IT, training, admin and sales just a phone call away – and the flexibility of being your own boss, free to attend school events, take a leisurely lunch, play a regular game of golf.

So how do you do it? How do you match your desire for freedom and flexibility with a franchise system that will offer you a good return on your investment and be there to support you when help is needed?



"So once you’ve thought through whether time or income is the key driver, you can start to research business models that fit your needs. Australia offers top franchise opportunities which come in many sizes and shapes. All systems will offer the freedom that comes with being your own boss, but there are plenty of long hours and financial responsibilities that come with being head honcho too." 

Set your own goals

First up is identifying your own goals – both personal and business – so you can pinpoint just what a good lifestyle means to you. For some it might mean the freedom to spend every afternoon with the kids, for others the benefits might come in the guise of a bigger house, a pool or a new car that a good income affords.

So once you’ve thought through whether time or income is the key driver, you can start to research business models that fit your needs. Australia offers top franchise opportunities which come in many sizes and shapes. All systems will offer the freedom that comes with being your own boss, but there are plenty of long hours and financial responsibilities that come with being head honcho too.

Ask yourself

• Do want to keep admin to a minimum so there is more time with the family after hours?

• Do you want to work Monday to Friday only? Are you happy to work weekends and evenings instead?

• If this is a mobile business, do you want leads sourced for you through a centralized system? Do you want to run your business from an iPad?

• Do you want to be a one-man or one-woman business or get involved with employing staff or contractors as the franchise builds?

• Do you want to be a hands-on franchisee, or be an investor and employ a manager from the start?

Ask about the franchise opportunities you are looking at

• If you are searching for flexibility, does the business require evening and weekend work and will this fit in with family needs? Perhaps the hours are flexible enough to spend time with the kids in the afternoon and work later at night.

• Has the franchisor invested in IT to ensure admin, management, training and communication materials are easy to access online whenever it suits the franchisee?

• Can you drive the business without being there all-hours, and still make money?

• Will the franchisor let you grow your business as much or as little as you like?

• Does the franchisor welcome investor franchisees?

And one surefire way to see if the franchise opportunities you’re investigating are going to meet your lifestyle requirements is to speak with existing and past franchisees and find out how many hours, and when, they work; whether they have achieved their financial goals; and if the franchisor provides the promised support. There are many franchises for sale, and you have to find the right one for your personal lifestyle.

Choosing a franchise with the right level of support for you will make building the business easier and get you closer to achieving the freedom and lifestyle you want.

Some flexible business options include: mobile services and coffee vans, management-based franchises, home-based business, vending, 24-hour gyms, mortgage broking, education and child-focused franchises.

To find out more about Franchise lifestyle opportunities refer to the Franchise lifestyle awards.

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