Millennials may be the most debated generation in history. Statistics are readily available as experts try to predict their needs, goals, motivations and choices. While we’re busy letting our opinions about them fly, millennials are getting busy – transforming norms, altering buying habits, starting families, and growing successful businesses.
According to Pew Research those born from 1981 to 1996 are responsible for 82% of new babies in 2016 alone! Coinciding with the growing number of millennial moms is the rising tide of entrepreneurs from this generation.
A recent Forbes article provides some keys as to why millennials make excellent franchisees:
- Millennials are keen on making a difference in their community
- Millennials tend to be open-minded and less risk-averse
- Millennials are in touch with how to leverage technology
When it comes to millennial moms as franchise owners, according to Entrepreneur.com, Motherhood offers the opportunity to perfect these (and many more) vital entrepreneurial skills:
- Managing time and juggling priorities
- Decision making on-the-fly
- Perpetual learning and adapting
With Mother’s Day approaching, I asked one of my recent millennial clients to weigh in. Interestingly, her fitness franchise helps others tip the scales toward a healthier, more active lifestyle – a passion for this young Mom.
Cara Stathas, wife and mother of two, is now in her second year as the co-owner of GYMGUYZ, an in-home personal training and fitness franchise that services Roswell and Alpharetta, Georgia and surrounding areas.
She recently shared, “it’s incredibly fulfilling transforming people’s lives and being part of the community. I can’t tell you how much I love that part!”
Cara, with a young family and a busy career, what was motivating you to take the time to explore getting into your own business? In other words, what were your objectives, needs or goals that had you seek out becoming a business owner?
Cara: “My husband Kris and I have always loved helping others. We are incredibly active in our north Fulton (metro Atlanta) community, and we thought it’d be worth exploring a semi-passive business opportunity where we could positively impact other community members’ lives while also inspiring our children during the process. Since we do have full-time jobs and small children, we realized that this opportunity would need to specifically fit the budget and parameters that we carefully constructed with the help with FranNet!”
In the Forbes article, was there any point shared that really jumped off the page for you? Any further comment about it?
Cara: “This particular quote in the article resonated with me, ‘Millennials are very aware of how much time we spend at work during our lifetime and as a generation they want to spend that time doing something that makes them happy, something that gives them a feeling of satisfaction and that they see having a positive impact on others.’
Life is too short to go through the motions. We’re firm believers in positively impacting the lives of others, which makes us happy! Now, is running a small business easy? Not in the least. Is it inspiring and rewarding? Absolutely. A positive mindset, consistency, focus, and proper guidance are the keys to success. Being willing to learn from your mistakes is the other key.“
Millennial or not, I’m often asked about the benefits of franchising over an independent startup business. One word comes to mind for millennials – stability. As this News Press Now article points out, “while small businesses allow for near unlimited freedom and creativity, franchises can offer more stability for young entrepreneurs.”
Embedded in the franchise model are some distinct advantages:
- Playbook for Success
- Transparency and Risk Mitigation
- Teamwork and Collaboration
Indeed, we salute Moms of all ages and careers, especially the ambitious young women who are changing the face of franchising by raising children while running their own franchise business.
Are you ready to explore franchise ownership as a means of achieving the freedom and flexibility only offered to business owners? Profitable and rewarding franchise ownership is more attainable than you might think. Watch this short video series and connect with me to learn more.
Leslie Kuban is a nationally recognized franchise industry expert, CFE (Certified Franchise Executive) and owner of FranNet in Atlanta; a locally owned and operated franchise consulting firm. Leslie and her team have helped approaching 500 individuals and families achieve their dreams of business ownership through a no-cost, extensive educational and coaching process. Reach out to Leslie at email@example.com or call 502-530-0143 to get started today.