While the phrase “passive business owner” may seem like a contradiction in terms, there is a reason why semi-passive franchise models are so attractive. There is little doubt that growing a successful business requires a time commitment, but when you are the owner, your time is no longer tethered to an employer that is leveraging every one of your minutes and dictating your vacation time allowance. In early 2015, Entrepreneur.com encouraged time off for the benefit of not only the boss, but the employees as well. So, while delegating your business operations to take that summer vacation you've dreamed of may seem challenging, when you are in charge of your own destiny and the one making decisions about your how you leverage your time, at least you have the choice.
In 2013, FranNet of Atlanta helped Bob Metz (pictured here with me at one of his grand openings) purchase a hair salon franchise after retiring from an executive leadership career in the publishing industry. Since then, he has expanded to a second unit, so I was curious to get Bob's take on the concept of the entrepreneur's vacation. Is it a myth? Apparently not because Bob was on a Florida beach vacation with his family when I called. When we did speak, he confirmed that he is indeed enjoying more time with his family and loving the control he and his wife have over their family time.
Bob went on to explain how the franchise home office thoroughly supports his semi-passive business model by providing proven hiring and training methodologies for store managers and a robust on-line system that allows him to remotely monitor his salons. He can even perform payroll functions from his smart phone with his toes in the sand.
In 2013, the number of unused earned vacation days reached a 40 year high, according to an Oxford Economics study cited by Forbes . The study found, “American employees collectively surrendered $52.4 billion in benefits, or an average of $504 per employee for free labor for their employers.” The question then becomes, if you're going to surrender your personal vacation time to an employer, shouldn’t that employer be you?
There is a growing number of options for semi-passive businesses that give you leverage with your time and allow you to grow a business with increased resale value and equity down the road. Contact Leslie Kuban with FranNet of Atlanta to discuss what options are available and growing in Metro Atlanta.
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