Why Millennials Make Good Franchisees

If you don’t already know, FranNet is running one of our online seminars today—yes, today, May 25. The subject is MILLENNIALS: OWN YOUR BUSINESS! The seminar begins promptly at 2:00 p.m. EST and you can join the one-hour session by following the hyperlink above.  

Which brings us to the focus of this FranNet blog edition: Why Millennials Make Good Franchisees. Quick, can you name a few reasons? Not off the top of your head? Then, let’s start with your preconceived stereotypes of the 75 million people born between the years of 1981-1997. Millennials are lazy, entitled, self-absorbed and unable to grasp the concept of a self-starter, right? Wrong. We’re guessing that if you’ve ever worked closely or alongside a Millennial, you may not have found a more driven and ambitious free-thinker, completely disassociated from the normal drone worker model. Statistics bear this out.

According to one poll conducted by Deloitte, 70 percent of Millennials report a preference of rejecting traditional business opportunities to work independently. Franchising, how do you do?? Furthermore, 54 percent of millennials either want to start a business or already have started one, and 90 percent think being an entrepreneur means having a certain mindset rather than starting a company. And we all know that a certain entrepreneurial mindset can be a path leading directly to FranNet’s front door. 

Because Millennials are more skeptical of true fulfillment generated by working in Corporate America, they come across as bigger risk takers. They’re willing to go to great lengths to see that their professional lives include some form of purpose or a greater good. The generations before them didn’t see things that way and perhaps that’s why it takes a “second career” crossroads to lead them to franchising. Millennials are ready to begin that second career first.

Another aspect that makes Millennials such a good fit for franchising is their innate desire to be “coached up” and “mentored.” Because franchises employ such stringent training programs and supervision, the fit becomes natural between the two. 

Many franchises have also gone to great lengths to modify their outreach efforts in attracting the next generation of business owners. Social media campaigns are carefully constructed and executed while targeting Millennials where you’re most likely to find them at any given moment—on their smartphones.

The competitive streak that seemingly lives in each Millennial is also a strong determining factor in their investigation of franchising. They’ve spent their whole lives trying to get to the top of their class, achieve the most accolades and attain top bragging rights. What better way to measure success than to run your own business as opposed to having some supervisor determine your career growth? 

FranNet knows that Millennials are prime targets for becoming successful franchisees. Which is why we created a seminar just for them. If you’re interested in hearing what we have to say, join us today at 2:00 p.m. EST. Unless….you’re just not motivated enough. KIDDING!

Let’s chat! There’s a local FranNet consultant right in your market who knows that market inside and out – knows the personality of the market – knows the competitive landscape. FranNet has a great track record of assisting individuals on their path to entrepreneurship, and one of our franchise experts would love to provide you with guidance free of charge. Sound like something you might be interested in? Get started here and find your local consultant right now!

May 25, 2017