• Why Millennials Are Becoming Franchisees


    http://www.entrepreneur.com/article/243072Everyone else on the corporate staff is in their late 20s or early 30s. Millennials are willing to listen and willing to take the help you provide. They may not have the experience of Gen Xers or Baby Boomers, but nowadays the younger generation is so well-rounded.

    Ten years ago you would be hard-pressed to find anyone in the franchising industry who thought people in their 20s or early 30s were prime franchisee candidates. For the most part, franchise ownership has been reserved for a small demographic of high-net-worth individuals or executives from corporate America with the desire to go out on their own. But lately that has started to change.

    Franchises, especially lower-cost franchises and tech-based systems, have “discovered” Millennials. Despite a media-fed stereotype that Millennials are self-absorbed, avoid hard work and expect praise without accomplishment, franchisors who have worked with them have found many to be energetic, adaptable, smart and industrious.

    Thanks to the Great Recession, the crumbling job market and changes in employment culture, Millennials are wary of corporate America and more interested in alternatives like franchising. Read more…