Becoming your own boss is a big draw for people to consider franchising. However, not everyone is ready or even wants to leave their full-time job to start a business. Oftentimes, people would like to start something on the side to get their feet wet in business ownership before doing it full time, or do so simply to have additional, passive income on the side. There are franchise opportunities that fulfill this need.
For the passive revenue streams, it’s important to have a realistic expectation about how much the income potential is. They won’t make you a “thousandaire” overnight! For those who are part-time in particular areas, such as consulting, these jobs tend to yield revenues higher than what most would classify as passive income. However, again, because it’s a part-time effort, one can’t expect the income to rival that of a full-time business. Another benefit to investing in a part-time franchise is that many of these don’t require royalty fees because they are business opportunities, as opposed to traditional franchises.
Whether passive, part-time, or full-time, it’s imperative that you do your due diligence. Be sure to speak with current and past owners and make it a point to meet the franchisor and the support team in person. Also, be sure to have an attorney review the Franchise Agreement, to ensure that you know what you’re agreeing to.
Here are a few recommended passive, part-time franchise opportunities to consider:
1. ACFN ATM
ACFN is the largest hotel provider in the U.S., and it is North America’s only ATM franchise. They currently have over 250 franchises and focus mainly on travel and entertainment-based businesses. ACFN has a full call center support team that does the research and securing of qualified locations, as well as marketing. Owning and operating your own ATM network only takes a few hours per week.
Investment Range: $60,000 – $100,000
2. Cruise Planners / American Express Travel
Ranked as the number-0ne in the travel category for 11 straight years by Entrepreneur magazine and often appearing on the Black Enterprise “Top 25 Franchise” list, Cruise Planners is a low investment business opportunity that yields high returns, with no travel experience required. Their flexible business model is one of the largest, privately owned, nationally recognized, and continually awarded travel selling agencies in the country. You will be trained to become a full-service travel planner, selling cruises, hotels, all-inclusive resorts, luxury yacht rentals, vacation home rentals, travel insurance, passport services, shore excursions/day trips, special needs at sea, destination weddings, and more.
Investment Range: $10,000
3. Franserve Inc., Franchise Consulting
Franchise consulting can be a lucrative business—placing clients into franchises using mentoring, and coaching them through the franchise selection, evaluation, and buying process, as well as helping them access the capital to own and operate that franchise. Franserve consultants represent hundreds of franchise brands and works with prospects that are in the market for a career change and who desire business ownership opportunities. They assist clients in identifying and exploring ideal franchise opportunities that meet each candidate’s professional and personal goals.
Investment Range: $25,000 – $30,000
4. Naturals2Go Healthy Snack Vending
Naturals2Go is a business program offering healthy snacks and drinks utilizing the latest technology in automated retail vending with services and support unmatched in the industry. Naturals2Go will provide you with everything you need to get your business started, from world-class vending training to a brand-in-a-box program that makes marketing a snap. They also help you place vending machines in great locations as a result of marketing analysis.
Investment Range: $20,000 – $125,000
Snapology provides educational play to children using LEGO bricks, K’Nex, technology and other interactive mediums. They offer multiple revenue streams for owners, to include classes, camps, workshops, parties, scouting events, field trips, social skills groups, retail sales, and custom events. Snapology is a mobile business, meaning it doesn’t require an office or a building, you go to schools, Parks & Rec Centers, Scout meetings, churches and private homes. Most activities are after school, evenings, and weekends.
Investment Range: $35,000 – $65,000
Nancy Williams earned a degree in sociology from UCLA with a specialization in urban studies and business. Her first business was a partnership in a small record label right out of college. After working with a few tech startups, she concluded her career in the corporate world with 14 years at Sprint, a majority of that tenure as a director in customer and sales operations. Nancy started NValuable Franchise Consulting, in order to provide free consultation, relevant insight, pertinent and candid feedback to her clients, so they are able to confidently purchase the right franchise. As a result, her clients achieve financial independence and a positive, enduring impact on their families and local communities.