while selecting a line of business an entrepreneur must keep in his/her mind
Answers
Mind-set.
Many people make the mistake of selecting a franchise based on what the business does, what the person likes or where their passions lie. It’s important to understand if a business is actually structured to be semi-absentee. If your heart is set on having an home improvement business, you’ll find that this type of venture lends itself to the owner-operator business model, requiring full-time commitment from the owner. Keep an open mind when looking for a semi-absentee opportunity.
2. Finances.
Your financial situation is an obvious factor that determines the type of franchise you can afford (or for which you qualify). Since semi-absentee businesses tend to be retail, you might consider financing through conventional or Small Business Administration (SBA) loans.
3. Skills.
People management skills are key to successfully operating a semi-absentee business since you will be providing oversight to a manager or managers if you have multiple locations. You need to be comfortable surrendering control and delegating the day-to-day operations of your business to the manager(s).