We all know that in everything we worked in (to make a living,) we need to put our best effort into it. Just like any other type of business startups, franchising, too, require franchisees to put top effort in order to succeed.
Suppose you have a day job that is too difficult to let go to allow you running a franchise unit full-time – Are there any possibilities to run both at the same time?
Yes, you can, but take heed – you can not give equal attention to each and every of your job or business.
In my personal opinion, you have to let go either one if you want to succeed. Sure, you can achieve success while juggling and multi-tasking with your day jobs, your franchise units and your other businesses, but there will be prioritization – either you like it or not – that will put the most lucrative ones on top priorities, while leaving the other on lower priorities.
And, yes, you only have 24 hours a day to manage all of your business.
With the above being said, I do know people who can do well working for a boss, running independent businesses and operating franchise units.
Multi-tasking a job and a franchise ownership: A case study
Take one of my colleagues as an example – Let’s just call him ‘John.’
John owns a couple of franchise units and has started-up two businesses (that I know of.) To make things complicated, he is on the payroll as one of the Executives of a trading company. And he still can attend franchise gathering with glee and smiles on his face. No wonder, all the smiles are due to the success of ALL of his currently owned business ventures (of course, excluding several failures in the past.)
To cut long story short, his secret to the success is simple: Delegation.
He has this ‘holding company’ run by the best people he can get to professionally manage the businesses, including the franchise units. This way, he can ‘mingle’ with ‘other things’, such as his day job.
He is practically managing his franchise units and businesses on weekends (and any days he like.)
So, is there such thing as weekend franchising?
Weekend franchising is not an urban legend. It can be a reality to the right people with the right mindset and business strategy.
Of course, you have to look for franchise opportunities that allow you to be an absentee owner (such as some convenience stores franchises.)
Nevertheless, the first thing to do is to evaluate whether you have the mindset, characters and resources to manage a franchise unit while holding on your day job. Doing this the right way can present you with an opportunity to own multiple franchise units and other business endeavours you might have in the future.
Ivan Widjaya
Weekend franchising
Image by Office Now.
