Franchises are a different breed of business investment. They offer an established business plan with proven results and an unparalleled support system. It’s a wise investment for those looking to dive into the business world while mitigating some risks. It is also proving to be a great business venture for millennials.
For millennials interested in entrepreneurship, owning a franchise could be the start of a storied career in business ownership. With their creative and can-do spirit, millennials can be the perfect fit as a franchisee. Read on to learn why!
They’re Socially Conscious and Care About the Community
In the past 50 years, the world has been fraught with social and environmental changes. Millennials grew up in these socially charged times, being molded by their surrounding environment. Because of this, they are in tune with various communities and an ever-changing world and have a deep desire to contribute positively.
It has led them to become committed members of society, forming their businesses with others’ needs in mind. They’re drawn to opportunities and careers that deliver beneficial services to their communities, making them ideal candidates for franchises.
They’re Creative and Tech-Savvy
Baby Boomers still struggle to adapt to the technology introduced to them in their adult lives. However, millennials have grown up alongside technology since their early years and understand its crucial role in a franchise’s growth and success. They are innovative and creative, finding unique solutions to stubborn problems that modern businesses face.
They Understand Social Media and Marketing
The rise of the influencer became a social phenomenon that rose with the millennial generation. Most millennials have built large followings on social media because they’ve grown up in an age where how you look and present yourself on social media is an integral part of their social experience.
They understand how social media works and how to market their business correctly without any additional training. Millennials know how to build social media followings, often without needing to hire professionals. Such skills can help create strategies on a franchise-wide scale.
This period of social evolution was taught to believe they could do absolutely everything and they have. According to the Pew Research Center, collectively, the world’s millennial billionaires have a fortune worth over $200 billion. They are a generation taught to push the mold and maybe even break it completely. They think outside of the box and therefore, develop creative solutions for everyday problems franchise owners face.
Hundred Acre Consulting
Starting the path towards being a franchise owner is difficult in any climate. After the pandemic’s devastating effects, many hopeful entrepreneurs fear their dreams of owning a business are simply impossible. But owning a franchise is still a genuine possibility, and many franchises are still booming, despite the pandemic’s effects.
This is the perfect time for enthusiastic millennials to invest their time and creative energy into one of 2021’s growing franchises. If you have questions or are unsure of where to begin your franchise journey, let Hundred Acre Consulting help. Our team can help you pick the perfect franchise and consult you throughout your career.
If you’re ready to work with a franchise consultant, contact me today, and let’s get started!