last updated 01/06/2021
Side hustle franchises
last updated 01/06/2021
Can a franchise be a part-time business or a passive investment?
Do you want to make some extra money but don’t want to leave your existing job? Do you want to try out the idea of working for yourself without giving up your main income? Are you looking for a way to boost your retirement income without going back to full-time work? Then a side hustle might be just what you’re looking for.
Google ‘side hustle’ and you’ll get lots of links to ‘Make $$$ in your spare time!’ – some genuine, many dodgy or unrealistic. The best-known ones are Uber or Airbnb, where you use an existing asset to generate extra income. But what if that doesn’t appeal – or you want something with greater potential?
Several franchises offer you the ability to generate add-on income from a proven business model without having to be full-time. Some are low-cost but require you to invest your spare time; others require a higher level of financial investment but can be run in a more hands-off way.
The best-known ‘spare time’ franchise is probably commercial cleaning, where much of the work is done outside normal hours. If you’re prepared to do a full day at work then a few more hours elsewhere, this can be a great way to get into a business of your own. The business can be scaled up, too, enabling you to move into it full-time and even employ your own cleaning team. Some home services franchises enable you to do the same. See more on cleaning franchises.
Other part-time options include some food and beverage franchises, such as coffee carts or food stalls. These can operate part-time during the week with additional days at weekends. MeloYelo is an e-bike distribution franchise that allows you to work from home a few hours a week., while Seasons Art Class offers similar benefits. And many leisure and education franchises operate after school, offering tutoring in everything from maths to computing to sports, with additional options at weekends and during school holidays.
Be aware, though, that part-time businesses also require additional (unpaid) hours to be put in on marketing and admin.
If you have a bit of capital behind you and are looking for something that will produce a better return on investment than the bank but without the need to work full-time, there are a number of options.
Vending franchises such as Provender can often be run part-time or full-time, depending on how much you are prepared to invest in equipment. These are the type of businesses that can be grown as you become more comfortable with the business; the same applies to cabin-hire franchises including Mizin and Just Cabins. Laundromats like Speed Queen can even be operated remotely, although scaling up means opening additional locations.
Not all franchises are designed for hands-off operation, but these ones have well-designed, robust equipment and well-supported processes that enable you to make money without being on site all the time.
Spare-time or hands-off, any side hustle will require you to work hard at first. The good thing about franchises is that having a well-known brand, proven systems and support behind you should make the effort you put in more effective and increase the rewards you earn.
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