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The Side Hustle Show

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

The Side Hustle Show

Nick Loper

How To, Entrepreneurship, Business, Education

4.71.6K Ratings

🗓️ 10 January 2019

⏱️ 49 minutes

🧾️ Download transcript

Summary

“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

Transcript

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0:00.0

Side Hustle Show, 317,

0:02.0

317, should you consider licensing or franchising a business?

0:06.0

Here's how a school nurse started a six-figure side hustle.

0:12.0

What's up, What's up Nick?

0:13.5

Loper here, welcome to the Side Hustle Show because ideas without action aren't

0:18.4

worth much. But sometimes you don't have to come up with the idea all yourself.

0:22.8

And that's the case with today's guest, Tamika Downs.

0:26.6

She's a school nurse by day, but was looking for ways to add income after hours and ended up licensing someone else's business idea.

0:35.1

Now stick with me here because Tamika's side hustle is a lice clinic.

0:40.1

It's an appointment only brick and mortar salon of sorts that helps parents and kids get rid of

0:46.8

lice. Not exactly the most glamorous niche in the world, right? But Tamika's clinic did six

0:52.4

figures in her first year all on the side from her day

0:55.4

job. Stay tuned in this episode to hear how she evaluated the risks and benefits of the licensing

1:02.2

opportunity, how she drives business, and how she

1:05.8

set this up to really limit her own hours.

1:08.7

After all, it's still a side hustle and just one of several Tamika has going on. She also co-hosts the House of F.I.

1:17.2

and she blogs at Reluctant Frugalist.com.

1:20.1

And she's got three kids.

1:21.2

Notes for this episode along with the full text summary and links to all the resources mentioned

1:26.8

are at side hustle nation.com slash Tamika. T I M I K A. Now whether you're ridding T-I-M-I-K-A.

1:33.0

Now whether you're reading clients of Lice for providing some other service,

1:37.0

you're going to need an easy and professional way to get paid

...

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