Many people choose the franchise industry because they’re tired of working for someone else. They don’t want to spend eight to 12 hours a day in an office. They don’t want to miss out on their kids’ special events. They want to enjoy the financial rewards of their labor.
Franchising offers unique independence. Successful franchise owners effectively balance the demands of work with their personal lives, ensuring they can provide their families with a lifestyle they deserve without sacrificing quality time with the people they care about. They also have resources and time to pursue their passions, whether that’s travel, recreation or simply relaxing at home.
What makes franchising different? Why are some franchise business owners able to achieve financial success while maintaining a healthy and satisfying work-life balance?
The key is flexibility. The best franchise opportunities allow owners to set their own schedule and determine many elements of the structure of their franchise location.
And as the industry continues to evolve, many franchisors and franchisees have discovered that some franchise business models offer features that maximize flexibility. With these models, franchise owners can build a business that is dialed into their specific goals and expectations.
Here are some of the things potential franchise owners should consider if they’re looking for maximum flexibility in a franchise opportunity:
- Potential for home-based operations: Some franchises are designed to be operated out of a home. Others require a physical storefront. With a storefront, you’ll likely need to keep regular hours. Home-based businesses offer more flexible scheduling options. You can develop a work schedule that best suits you and your needs, whether you prefer an early start or would rather start later and dive right in.
- Flexible location: Some franchise opportunities can operate effectively either way. That’s an additional element of flexibility to consider. As your home-based business grows, a storefront or office location can allow additional space for inventory and supplies and accommodate new members of your team.
- A short ramp: Some franchise businesses require significant initial financial and time investments. Identifying and securing real estate, for example, can add considerable time and expense to your startup. So can services that require extensive training, staffing or specialized inventory. Those investments can extend the time it takes a franchise owner to see a meaningful return. On the other hand, a home-based business offering convenient, accessible services you can provide effectively with little help or training can be open within a few months and reach profitability more quickly. And with profitability comes the freedom to be flexible with your schedule.
- Training: As your business grows, effective, strategic hiring decisions and delegation allow you to step back from day-to-day operations and take on an executive role. Effective, ongoing training that prepares team members to take on operational responsibilities will be critical as your role evolves.
Potential franchise owners can optimize their opportunities with flexible franchise businesses that allow them to set their own schedule and adapt their location as the business evolves. Ensuring trusted members of a growing team can effectively manage day-to-day operations is another important element that allows franchise owners to get the most from their opportunities.
Freedom and flexibility are two of the defining characteristics of the franchise industry. Owning your own business while enjoying the support of a proven franchisor helps our model stand out as uniquely attractive and makes the dream of a rewarding work-life balance attainable.
Paul Linenberg is the president of Gotcha Covered, a custom window treatment franchise that has over 160 franchises in the United States and Canada combined. The company specializes in providing end-to-end consultation to its clients. For more information, please visit gotchacovered.com. For more information regarding Gotcha Covered franchising opportunities, please visit gotchacoveredfranchising.com.