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

<p>“It’s a business with training wheels,” Timika told me.</p> <p>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.</p> <p>Her side hustle is a lice clinic; a brick-and-mortar facility that helps parents and kids get rid of lice.</p> <p>Not the most glamorous niche in the world, but Timika’s clinic did <strong>6-figures in her first year, all on the side from her day job,</strong> and it now runs with little time investment from her.</p> <p>The lice clinic is actually just one of several side hustles Timika has going on – she also co-hosts the <a href= "https://houseoffi.com/" target="_blank" rel="noopener">House of FI podcast</a>, blogs at <a href="https://reluctantfrugalist.com/" target="_blank" rel="noopener">ReluctantFrugalist.com</a>, and she has 3 kids.</p> <p>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.</p> <p>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.</p>