For many years the poster-child for business ownership was limited to those in the latter stages of their careers, corporate refugees coming from management positions. Now, some of the fringes are becoming more of the mainstream. Now younger generations with a different mindset are driving more millennials to consider starting their own gig.
Franchising works particularly well for an individuals or family who have a desire to own a business, but no plan or burning passion for a particular product or service. That’s who you really see thriving in a franchise model, where there is a model developed and a concept formulated so you don’t have to figure it out on your own.
Jim Fitzpatrick from ASBN calls it, “instant name recognition and therefore a customer base.” In the last few years, there’s been an increase in people looking to start a “semi-passive” business on the side while keeping hold of their current employment. Another trend growing in franchising is multi-generational teams, a parent sunsetting their career and a grown child teaming up to start a family business. It’s the best of both worlds providing a semi-retirement career for the parent and an exciting entrepreneurial opportunity for the child.
You might be surprised to learn how the demographics in franchising are changing. Schedule a call today and let’s find the right business for you.