Fund Your New Life Overseas With A Franchise
“Kathleen,” wrote a reader this week, “I just read one of your newsletters talking about all the different ways expats can fund their lives overseas. This is of great interest to me, as I am in the process of making my own plan for relocating to a new country and need to find a way to generate an income there.
“I remember that your daughter, Kaitlin, was going to start an online tour business for Panama, but now I see that she’ll be starting an Internet-based franchise relevant to the fast-growing expat market around the world. Do you mind telling me what prompted the change in plans?”
The opportunity presented itself. Kaitlin, who graduated from university in the States in May and moved to Panama in June, was working through a plan for a tour business. As step #1 was to learn to speak Spanish, she had enrolled in an immersion study program in Panama City.
Meantime, the franchise opportunity presented itself out of the blue. It seemed a more efficient way for Kaitlin to begin generating an income immediately while, at the same time, establishing a revenue stream long-term. If the online franchise takes hold, Kaitlin will be able to hire someone to manage its operations day-to-day, leaving her free to explore other opportunities. Perhaps a second franchise with the same group, for example (for Colombia), and, as well, the tour business idea she’s still developing in the background.