Multiple sources of income-2

For an additional source of income (besides your day job) is Franchise. Franchise is like you license somebody else’s product or name and open up an additional store under the Franchise’s name. According to what I have researched, Franchise is one of the most expensive forms of business if you want to open one. There are some strict requirements you have to follow in order to qualify for the licensing of the Franchise. In additional, there are some hefty upfront fees, in addition to ongoing licensing fees, quality control and other stipulations spelled out in the Legal contract that you have to sign. Then you have to be present initially full time at your franchise business in order to have full control over your business.

Due to the above factors, I would not recommend that you go out and have a franchise, since it is not a part time job to start with initially. Besides the requirements of heavy capital requirements, it is also not feasible that only one person handles this since it entails negotiations and capital requirements which can exhaust any newbie. It can be used as a partnership business, but you need to put down heavy amounts and be very heavily involved which can take a tool on your regular job. If you have all the capital requirements and other things in place even then you would have to present in the place for quite some time.