Weighing up the pros and cons of a part-time franchise

25/05/2018 08:00 | Start a business

Pros and cons of a part-time franchise

For many people, the idea of owning a part-time franchise is incredibly appealing. For others, the arrangement poses its own unique set of problems. Here, we take a look at part-time franchise arrangements and weigh up the pros and cons of this type of agreement.

Affordable franchise investments

Part-time franchises are often some of the most affordable investments youll find on the market. Typically, they benefit from reduced overheads and reasonable startup costs, while also offering their franchise package for a lower initial investment. This occurs for a diverse array of reasons. Some franchises may set lower minimum investment levels because they don't require business premises, other because they don't depend on anything more than a skeleton staff. Whatever the reason, low-cost franchises ensure youve got more to spend on growing and expanding the business once its up and running.

Work from home

One of the significant benefits of a part-time franchise is that they're often home-based. Working from home is advantageous for many reasons. It means that you don't need to waste time or money commuting, it allows you to claim a portion of some utility bills back as expenses, and it ensures youre able to organise your personal life around your professional activities more efficiently.

Working from home isnt for everyone, but it is an incredibly appealing idea for many people. If youre sure that you have the discipline and self-motivation necessary to succeed in a home-based franchise, this type of arrangement can be extremely liberating. Whether it allows you to drop work for half an hour as you pop out on the school run or reduces overheads to a level that ensures you can afford the initial investment, home-based franchises offer a great deal of flexibility.

Flexible hours

As well as benefitting from the ability to operate from home, many of the best franchises to invest in are those that make allowances for flexible working hours. Part-time franchises often give franchisees greater control over their daily routine, endowing them with the capacity to organise their workload around other commitments. For instance, part-time hours mean that you can make time for an afternoon gym session, take up that dance class you never had the time for, or start indulging one of your other passions.

Access to mobile digital technology has also vastly improved our communication capabilities, ensuring we can work at any time, in any place. As long as youre able to communicate with clients, customers, staff, and your franchisor, theres no need to lock yourself into a pre-determined routine. Instead, you can begin to organise your work schedule in a way that facilitates a better work-life balance.

Easier to gettime off

When signing up for a franchise, it's important to consider how becoming a franchise will affect your ability to take time off to realise personal ambitions. For instance, many franchisees enjoy travelling or taking a holiday. While this is easy enough to organise when you're a regular employee, as a full-time franchisee you may encounter problems. Similarly, many full-time franchisees express concerns about how well their lifestyle can accommodate their desire to start a family. Its rare for franchisee agreements to make allowances for maternity leave and unless you make arrangements with the franchisor, theres no guarantee that youll be able to take that time off.

On the other hand, a part-time franchise is far more flexible. Many of those individuals who are interested in becoming a franchisee but are aware that they may want to start a family soon, opt for a part-time franchise that can accommodate their needs. Similarly, part-time franchisees are usually able to reorganise their work schedule in a way that allows for more extended periods away from work.

Considerations

Having explored some of the major benefits of part-time franchises, it's also important to consider potential drawbacks to this type of arrangement. In many cases, time management and self-motivation issues are the most significant sticking points with part-time agreements. Ensuring that you get the necessary work completed in a reasonable amount of time, without being distracted or allowing it to overrun, can be a lot trickier than it first appears. Those who don't have any experience of this type of work should trial a flexible work arrangement before committing to it. It can be challenging to maintain, and many individuals who struggle to stick to a flexible work schedule often find themselves slipping behind, with a part-time workload soon requiring full-time hours to complete.

Managing other commitments, as well as a part-time franchise, can also take its toll. Many of those franchisees working part-time hours also hold down a second job. While this is relatively common, it can quickly become stressful and eventually lead to work overload. This isn't helped by the fact that part-time franchises require you to invest vast amounts of energy during the hours you do work. Though the flexible working arrangements ensure you do get time off when you're working it is necessary to give 100% to the task at hand. This can lend part-time franchising an intensity and pressure under which some individuals thrive, and others despise.

Finally, part-time franchises aren't usually as financially rewarding as their full-time counterparts. While this may seem obvious youre working fewer hours, so you can expect lower pay its vital that you do the necessary calculations to ensure the franchise opportunity will offer sufficient financial reward.

Conclusion

While part-time franchise agreements will work for a wide variety of people, they're not necessarily suited to everyone. It's important to remember that what works for one individual, may not satisfy another, so youll need to think long and hard about whether a part-time franchise is right for you. While there are many benefits, there are also some drawbacks to contemplate. If you're considering buying a part-time franchise, get in touch or take a look at our franchise listings page for more information.

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