Graduate from college … and buy a franchise?
July 26th, 2007
0 votes
An article in today's NY Times, Don't Go West Young Man … Buy Yourself a Franchise Instead,
asks a very interesting question. Should recent college graduates without any real-world experience forgo corporate America and buy a franchise? Our research shows that less than 1% are currently doing that. But that doesn't mean it isn't a viable options for some people.
What do you think? Buy a franchise? Start your own business? Take that job in corporate America to get some experience before "going it alone?"
July 28th, 2007 at 1:30 pm
Hi Jack,
Interesting article from the Times. Yes a very small percentage of new franchise owners are college aged.
I do not this number increasing too much. In my franchise consulting practice, most of the folks I try to help find franchise opportunities for are 45-55 years old.
Personally, I would like too see future franchise owners that have some work skills they have honed, before they try small business ownership.
July 31st, 2007 at 9:53 am
Hi Franpro,
Thanks for the note. Interestingly enough, I was forwarded another article from the NY Times saying a larger, and more viable market for franchising is people retiring and joining the AARP forces. And the type of franchises attracting retirees typically have low (or no) overhead and allow the franchisee a lot of flexibility. I think there is a business out there for just about anyone!