August 30, 2018
Absentee ownership is a term used in the franchise industry that refers to owners of a franchise who don't work there, and do not manage the day to day operations of the business. Franchise owners often call it, “manager-run franchises.”
What are the best franchises for absentee owners?
Mostly it depends on the franchisor but partly, it depends on the product or service being offered. You see, about ¼ of franchises do not allow absentee ownership. Franchises that may require a license or degree in an area of expertise such a law, medicine or aeronautics would most likely require an owner operator. Other service-based and lower-investment franchises, including food services, child services, day spas, hair care, and restoration businesses would be the best franchises for absentee owners.
How will I know if being an absentee owner is for me?
Are you an investor seeking income with little effort required to maintain it, or are you a type-A personality ready to make a career out of your business and controlling its day-to-day operations? Are you buying a job or an investment like a stock or bond? Do you have management experience? Only you can answer these questions and only you know the time you have available to invest in your business. Although Absentee ownership does give you the flexibility to come and go as you please, at the same time you must leave your business in capable and trustworthy hands; employees and well- trained, dependable general managers who can carry out the responsibilities of your business.
If you are someone you know may be interested in becoming an absentee owner of a franchise, peruse franchises for sale
at franchise.com for your ideal business to own, or read more to get the answers to frequently asked franchise questions
About the Author - Kerry Crocco
Marketing Coordinator for Franchise Solutions and Franchise.com; conduct email marketing campaigns, web page management and trade show coordination. Mother of two, wife and Young Living Essential Oils representative.