PRESENTATION OUTLINE
Independence, Entrepreneurship, Work/Life Balance … Are Millennials Actually Looking to Franchise?
There seems to be absolutely no shortage of world-class startups coming out of the millennial generation. The number of “unicorn” companies — companies that are valued at $1 billion or more — are disproportionately the result of the kind of innovative, entrepreneurial approach that makes millennial franchise investors stand out.
What’s really fascinating is that this entrepreneurial flair seems to have caught on with nearly the entire millennial generation since, according to a recent Deloitte business poll, 70 percent of millennials were considering leaving traditional 9 to 5 work in favor of a more independent career track.
Topics of Discussion
- Are Millennials Really Looking to Franchise More?
- Benefits Millennials Can Expect
- Millennial Talents, Tendencies and Aspirations
1. This all begs the question — is the franchise model the ideal middle ground between the security-oriented 9 to 5 business model and a more independent, entrepreneurial approach for millennial franchise investors? It really does seem that franchising furnishes millennials with the happiest medium between working one’s way through an organization from the bottom up and striking out completely on one’s own. Franchising also allows millennials to overcome many of the hurdles of going it alone in that, as opposed to evolving a startup from scratch, franchising gives millennials the independence they crave as well as the startup financing and marketing assistance to make those dreams a reality.
2. The franchise model gives millennials the feeling of being their own boss, calling the shots and achieving a covetable level of independence. That’s partly attributable to the fact that buying into a franchise opportunity gives young millennial investors the benefits of established name recognition, a turnkey investment opportunity designed to lower startup barriers and ongoing help in the form of marketing, training and technical assistance.
3. When millennials in the workplace are polled and asked what’s really important to them, the results actually tend to line up with what the franchise model provides franchisees. More than 70 percent of millennials reported wanting to be their own boss, while those polled also said that if they had to have a boss, they would want a boss to function more as a mentor than taskmaster. That’s great news because franchisors pride themselves on providing mentorship and guidance. Millennials also reported wanting more flexible work schedules — and the franchise model provides them with more flexibility and the chances of striking a more satisfying work/life balance as well.
Disclaimer: This information is not intended as an offer to sell, or the solicitation of an offer to buy, a franchise. It is for information purposes only. Currently, the following states regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. If you are a resident of or want to locate a franchise in one of these states, we will not offer you a franchise unless and until we have complied with applicable pre-sale registration and disclosure requirements in your state. Franchise offerings are made by Franchise Disclosure Document only.
