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Instead the owners run the business on a daily basis. Most smaller franchise operations (just like most mom-and-pop businesses) are not run like this. This just means you are not involved in the day-to-day operations of the business. To get passive (or mostly passive) income, you need to operate as an absentee or semi-absentee owner of your franchise. Absentee Owned Franchises and 4 Important Questions
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You should seek the advice of a qualified professional before making any investment or other decisions relating to the topics covered by this article. It is not a recommendation to buy or invest, and it is not financial, investment, legal, or tax advice. The information contained in this post is for informational purposes only. If you want to skip the introductory stuff and jump ahead to the 7 passive franchise businesses, just click here. We'll go into each of these types of franchises in detail, but first let's cover some introductory topics around franchising and general principles on what makes a franchise compatible with generating passive income. We are also going to provide 7 examples of franchise types that may be compatible with generating passive income (with links to specific franchisors that look promising). You need to analyze whether the business meets certain criteria (there are 4 questions you need to ask, which we'll cover in detail below). And because you are part of a franchise, your managers can leverage all of the support and detailed operational processes that have been developed by the franchisor.īut not every franchise is well-suited for generating passive income. In most cases, all you need to do is put in place a management team that oversees day-to-day operations. What’s even better is that some franchises can be structured to generate passive income. You get to be a part of an established brand and can operate under a proven business model.