Identifying what kind of franchise would suit you best starts with self-assessment. According to Schmellick, the first step is deciding your level of involvement – passive or active – in the franchise. Lifestyle issues, namely the hours you want to work, are another deciding factor. Someone who does not want to work weekends, evenings, or holidays, for example, should not buy a retail franchise such as 7-Eleven or ampm. Nor would restaurant franchises such as Subway, Panera Bread, Checkers or Sonic fit their lifestyle needs.
Cleaning service franchises such as Molly Maids, Cleaning Authority, and Maids International are “great lifestyle businesses” for the owners, Schmellick said, because working hours typically are 9 a.m. to 5 p.m. Monday through Friday. Operating costs are lower because no retail locations are required.
“You might say to me ‘I don’t like cleaning my own toilets. Why would I like cleaning someone else’s?’” Schmellick said. “But that has nothing to do with the business as an owner. It’s a service when you clean a person’s house. You are not looking to buy yourself a job. You are looking to build and manage a business.”