More Marylanders turning to franchising for extra income, retirement money

More Marylanders are looking to rake in some extra cash by becoming part-time small business owners.

Richard Bock, a consultant with FranNet who helps match individuals with franchise ownership opportunities, said he’s seen a shift in the franchising market as the local economy has strengthened over the past year or so.

Traditionally, most people begin looking into franchising because they are out of work, he said, or seeking a new career opportunity. But recently, Bock said a growing number of people are looking for ways to supplement their existing income or savings by standing up franchises that don’t require their full-time attention.

It’s called “semi-absentee” franchising. Bock said with this kind of opportunity, franchise owners can keep the lifestyle or existing job they have and make some extra cash by working 10 to 20 hours a week at their own business. The rest of the time, the franchise operates under the supervision of a manager. Certain franchise brands lend themselves…

Read the full story from the Washington Business Journal.

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