Erika and Kareem Hall became Soccer Shots franchisees in 2018 and opened their second location in 2021. Courtesy of Erika and Kareem Hall
Erika and Kareem Hall started thinking about passive income opportunities in 2017.
The Atlanta, USA-based couple with two children considered real estate investing, a popular wealth-building strategy. However, after doing their own research, they came to the conclusion that by investing in a franchise, they would get better returns and might have to work less.
Franchising is a business model in which a franchisor licenses his business idea, brand or concept to other entrepreneurs, the franchisees, for a fee or a share of the sales.
In September 2018, they started as a franchisee of a youth soccer program called Soccer Shots. Already in their second year as owners they made a profit. In 2021 they expanded into a second Soccer Shots location.
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The Halls have earned more than $1 million from their two franchises since launching in January 2019, according to income statements viewed by Business Insider. They’ve made six-figure sales in a single month and are consistently making five-figure profits a month.
Both work full-time—Erika is a professor at Emory University Business School, while Kareem runs his own consulting firm—and spend an average of one to two hours a week working on Soccer Shots.