317: Licensing or Franchising a Business? How a School Nurse Started a 6-Figure Side Hustle

“It’s a business with training wheels,” Timika told me. Timika Downes is a school nurse by day but was looking for ways to add income after hours, and ended up licensing someone else’s business idea. Her side hustle is a lice clinic; a brick-and-mortar facility that helps parents and kids get rid of lice. Not the most glamorous niche in the world, but Timika’s clinic did 6-figures in her first year, all on the side from her day job, and it now runs with little time investment from her. The lice clinic is actually just one of several side hustles Timika has going on – she also co-hosts the House of FI podcast, blogs at ReluctantFrugalist.com, and she has 3 kids. Her story is an interesting one. It highlights the differences between licensing and franchising a business, and Timika explains how you can leverage the support of a licensing company to get a business off the ground quickly. Tune in to hear how Timika evaluated the risks and benefits of the licensing opportunity, how she drives business, and how she’s set this up to be a hands-off 6-figure business. Full Show Notes: Licensing or Franchising a Business? How a School Nurse Started a 6-Figure Side Hustle