Did you know that according to a recent survey, half of US employees earn extra cash on the side, outside of their full-time jobs? From Uber Eats to freelance graphic design, Americans have had to add to their workloads during these inflationary times.  If you're one of them, have you considered investing in a franchise as a side hustle?

Owning a franchise can be a great way to earn additional income while keeping your full-time job. They can provide an additional revenue stream, without the additional hours.  Franchises also offer the benefits of an established brand, a proven business model, and ongoing support, making it easier for you to start and run a successful business.  

Here we offer a few of the top reasons why a franchise should be part of your consideration process.

Proven Business Model

One of the biggest advantages of a franchise is that you're buying into a proven business model. The franchisor has already figured out what works and what doesn't, and they've established a successful track record. You get access to this blueprint and can be up and running in a matter of weeks.  This can give you confidence as you start your own business, knowing that you're not reinventing the wheel. You can follow the franchisor's playbook and focus on executing their strategies.

Lower Risk

Starting a business from scratch can be risky. You're investing your time and money into something that may or may not be successful. Franchising can lower that risk. 

As mentioned earlier, you're buying into a proven business model. You also have the support of the franchisor, which can help you avoid common pitfalls. Finally, many franchisors offer financing options, which can make it easier to get started without having to invest a lot of your own money.

Flexibility

Many franchise concepts offer a work schedule on your terms. When many people think of a franchise, they automatically think of a McDonald’s or food brand that requires you to be in the day-to-day of the business, making a side hustle not sound plausible.  

There are many franchises that don’t require you to step foot in a building at all. From food vending machines to real estate, a plethora of opportunity awaits in the form of a passive franchise investment.

Scalability

Finally, franchising offers scalability. If your side hustle grows and you want to turn it into a full-time business, you can do so. Franchisors offer multiple levels of ownership, from single-unit franchises to multi-unit franchises. This means that you can start small and grow your business over time.

Dream it, Wish it, Let's do it

Franchising can be an excellent option for a side hustle. It offers a proven business model, established branding and marketing, support and training, lower risk, flexibility, and scalability. If you're considering starting a side hustle, be sure to explore the world of franchising. My team and I would love to help. Utilizing our data driven approach, we specialize in helping our clients find that right franchise fit. Schedule a call today, and we will handle the rest.