Owning a franchise can be a full-time job and the only source of income for franchisees. But if you’re looking for a lower risk start in franchising, part-time franchising might be a good option for you. Part-time franchising while you keep your day job – or care for a family, write the Great American Novel, or enjoy just enough leisure during retirement – is a practical alternative.
But part-time franchising isn’t for everyone and can mean a lot of stress for those who are unprepared for the challenges of two sets of obligations. Besides, not all franchises are good options for part-time franchising.
Take a TapSnap franchise for an example. A TapSnap franchisee provides a photo booth for events that typically occur on nights and weekends, like weddings or parties. Because of the scheduling, a TapSnap franchisee can still work a regular 9-5 job while getting established in the franchising world and building a reputation for the franchise. The big selling point for a TapSnap as a part-time franchise is the scheduling service that sets up events for the franchisee while the franchisee does other things, like work at a 9-5 job.
However, a TapSnap franchisee with a full-time job has to balance out the responsibilities of the regular employment with the obligations of a part-time franchise. Initially, it might be a few extra hours on the weekends, but there’ll be a period when the franchise takes a lot of hours but may not yet provide a full time income. It can be worth the added stress for the TapSnap franchisee to move from a full-time job that is no longer appealing to more desirable work as a temporary transition period. But if you’re planning on keeping your day job, it might mean being constantly overworked.
The challenges of working a part-time franchise alongside a full-time job shouldn’t be overlooked. Doing both often comes with higher stress levels and can also mean you might not be able to focus as much on your franchise as it requires to make it a success. If you’re not skilled at working two jobs and working as hard as possible at both, your franchise’s growth might stall or you could even lose your full-time job. The appeal of part-time franchising with a regular job, however, is that you can get your feet wet in entrepreneurship, create a diversified revenue stream, and work towards career goals that might be impossible in a traditional employee work setting.
A part-time franchise is a great place to start if you’re unsure a full-time franchise is right for you, because part-time franchise typically requires less commitment on many levels, such as startup capital, franchise fees, and time required to run the business. TapSnap, for instance, requires a lower franchise investment than a full-time franchise like a restaurant or retail store.
When you’re looking for part-time franchises to run with a full-time job, look for features that will help support you while you’re at your job and are occupied, like TapSnap’s scheduling program.