Working Full-Time And Wanting To Start A Franchise In Another State?

Inc.com:

I work full-time and want to start a franchise in another state while outsourcing its manager. What do I do?

Many prospective franchisees wonder if owning a store in a state or town away from where they live is a sound business decision. Some franchisees can make this work with great results while others find it a difficult struggle. Before you decide to open a store far from where you live and work, ask yourself these questions:

* What are my short- and long-term goals for this business?
* Will I always be a passive owner, or do I plan to get involved once it’s up and running?
* Do I have a manager who will care about the success of my store and the satisfaction of its customers as much as I do?
* Will I be able to meet this manager’s salary expectations along with the other financial responsibilities of owning a business?
* If something should go wrong, how quickly can I be there to solve the problem and how long can I afford to stay?

Many of Cold Stone’s most successful franchisees are very involved in the daily operation of their stores. It just makes things easier, particularly in the beginning when everyone is in learning mode. When it comes to your employees and your customers, there’s no substitute for the owner and his/her leadership.