Are you a workaholic? Achieve a work/life balance as a franchisee

29/06/2018 14:00 | Start a business

Are you a workaholic ?

Did you know that there was such a thing as Workaholics Anonymous? Well, there is. Following a similar 12-step recovery plan to that developed by Alcoholics Anonymous, Workaholics Anonymous was established in the US in the early 1980s. Today there are over 100 meeting groups help all around the world, with some even located in the UK.

But how do you know if you are a workaholic? According to Wilmar Schaufeli, a professor of work and organisational psychology at Utrecht University in the Netherlands, a workaholic is defined as an individual that works obsessively hard in a compulsive way. Anyone can become afflicted with this disorder, but self-employed people are particularly vulnerable because they grow so focused on their business.

So how can you ensure that you don't become a workaholic as a franchisee? Here are just a couple of ways that you can fulfil your dream of being the boss without compromising your work/life balance.

Start a van-based franchise

If you already own a van and have a passion for driving, then it makes perfect sense to make a living from it. Considering a van-based franchise is a great way to start a business which often requires no specialist equipment or previous experience. Here are some reasons why owning a franchise on the road could be the right choice for you:

  • Lower overheads

Because you'll need no fixed premises to run your van-based franchise, your start-up and ongoing costs will be significantly lower than some other franchises. Also, because it will be just you and your van, at least in the beginning, you wont have to fork out on expensive recruitment costs.

  • Less local marketing is required

Youll also save money on local marketing activity as your van will do the hard work for you, promoting your business as you drive around. It's likely that you'll need to purchase or lease a vehicle, but your van will be branded as part of the franchise package. This will make it instantly noticeable when youre on the road and give your business a professional touch. The money youll save on overheads, recruitment and marketing will make owning a franchise much less stressful, making it a more enjoyable experience.

  • Increased flexibility

Owning a mobile business also gives you greater flexibility. Youll pretty much be able to work where you want, when you want and when youre not in the van, the job will be predominately home-based. This freedom enables you to run your business around other commitments and achieve the ultimate work/life balance.

Invest in a part-time franchise

Choosing the option to run a franchise on a part-time basis is becoming increasingly popular. If owning a franchise and dedicating full-time hours is daunting, then starting a part-time franchise may seem more attainable. As well as the benefits that come with a van-based franchise, here are some additional advantages of running your business on a part-time basis:

  • You can pursue other interests

Having more free time allows you to engage in other activities during your free time. You may choose to study for that qualification that you've always wanted, or you could volunteer for a charity that you feel passionately about. Whatever you plan to do in your spare time, you'll achieve a better work/life balance if you're able to follow other interests while earning a part-time income.

  • Enjoy longer holidays

You could even choose a part-time business that comes in the form of a seasonal franchise. While you work hard during your franchise season, out of season you can spend your time travelling, studying or operating another part-time seasonal franchise. In fact, you could find that theres more money to be made from running more than one part-time franchise rather than a full-time business, depending on the industry and how many hours you work.

  • Save money on childcare

Part-time hours also mean that you can work your business around your children's school hours. This way youll save a significant amount of money on childcare. Research by the Money Advice Service found that the average childcare costs of 25 hours a week for a child under two is £116.25 (£148.16 in London). While parents are often entitled to some government support for childcare expenses, the majority of the costs need to be covered by parents.

  • Less stressful

Theres no getting away from the fact that running your own business can be stressful. There are many studies which prove that long working hours can take their toll on your mental and physical health. The huge advantage of working part-time is that you don't have to commit to working late nights and weekends to make your business a success. Less stress in your working life will not only have a positive impact on your health and wellbeing but on the happiness of your loved ones too.

By thinking outside of the box and choosing an affordable franchise on a part-time basis, or one that only relies on you and your van, you can achieve a much healthier work/life balance. Not only do you get to make your business ownership dreams come true, but you also get to spend more quality time with your family and friends.

Although these franchises can be just as lucrative as more traditional ones, you may have to take a hit on your profit potential. However, the advantages of flexible lifestyle, lower operating costs, less risk and a higher standard of living outweigh the slight reduction in the amount of money you make.

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