Can I start my own business while I work?

"Can I start my own business while I work?" It's not surprising that someone asked.

The answer is: "Yes." "But the premise is that your startup project is a business that can be partially absent." Well, what is a semi-absent business?

In franchise operations, there are usually two main types--the need for full time ownership and a part-time (half absent) service.

For those who are half absent, retailing is a good area to focus on time, energy and effort. Since not all retail concepts can be run in half, it must be licensed by the franchise. In addition to the food chain, there are many opportunities such as hair salon, gymnasium, Spas, tax service, packing and transportation center, etc.

International Franchise Association's franchise Business Economic Prospects report said: 2014 you, the United States has more than 770,000 franchise retail stores, is expected to increase 1.7% or 12,500 stores. Franchising accounts for 40% of retail sales in the United States.

In the case of a semi absent ownership, the franchisee employs the manager to oversee the day-to-day operation of the store. Having your manager take care of a day's work can give you the freedom to work full-time and enjoy the benefits of a half absence.

When you are looking for a semi absent business, there are four factors to be aware of.

1. Mentality.

Many people make a mistake in choosing a franchise, making a choice based on the type of business, people's preferences, and their interests. It is more important to analyze whether the business is a real, semi-absent structure. If you are interested in your home outfit business, you will find that this type of enterprise is the business model that the owner operates and needs their full devotion. It is necessary to keep an open mind when looking for a half absence opportunity.

2. Financial situation.

Your financial situation is a key factor in deciding what kind of semi-absent business you can afford. Because semi-absent businesses are often retail, you can consider traditional loans or small Business administration financing loans.

3. Skills.

Management capability is the key to running a semi-absent business successfully because you need to supervise managers or multiple managers. You need to control it properly and authorize the day-to-day operation of the business to the manager.

4. Enough time.

Since you are still at work, you have to consider whether you have enough freedom to run your business while you work, while maintaining a balance between your job and your life.

If you do not achieve the above four points, it will be difficult to find a standard semi-absentee business. Also, keep in mind that your money, skills and time are also valued by franchisees so that they will give you the power to franchise.

Working side by side is a viable option. Owning your own business is a sensible way to diversify your investment. For some people, starting a business while working is an exit strategy for them to leave the company. Once companies generate enough income to replace their salaries, they can put their work behind them. Another common incentive is to subsidize current spending, such as the tuition of a child's private school, or a few more pensions. Whether you're investing or quitting, it can be a smart and profitable decision to start a semi-absent business while working.