Gwendolyn Bounds and Raymund Flandez explain Why Running a Franchise Is Easier Than Ever:
The franchising world is letting loose. Gone are the days of one owner being chained behind the counter of a single store day in, day out. Today, there are absentee owners who oversee their operations from laptops and Treos, and owners who maintain dual careers or run multiple franchises. At Hollywood Tanning Systems Inc., more than half of the 330 franchise owners have another job. The chief executive of Sport Clips Inc. hair salons estimates that 10 hours a week is a “generous allowance” for owners to physically be in stores. And franchisees for the Decor&You Inc. interior-design business can receive decorating and product training at home whenever they like via online video seminars.Even costs are more flexible, with investments ranging from as low as $10,000 to more than $1 million, according to the International Franchise Association. That frees up owners to spread their talents around by opening multiple franchises, either of the same brand or even in different industries — a departure from the days when the rule of thumb for franchising was “one person, one store,” says Ann Dugan, author of “Franchising 101″ and assistant dean at the University of Pittsburgh business school.