You’ve got the drive, determination and the entrepreneurial spirit, but is it possible for youth, with little business experience or money, to manage a franchise operation successfully? Should young people in their 20s and 30s invest in franchising?
Here are four main reasons youth should strongly consider it:
1. Strong Foundation
For one, starting a franchise is considerably more secure than starting your own business. When strong branding, management and marketing already exist, it’s easier for you to make a good return on your investment and achieve profitable growth.
2. Minimal Experience
When you become part of a franchise system you follow a tried and proven business model. Which means, you don’t necessarily have to acquire the years of experience needed for a start-up business.
3. Guidance and Support
An added advantage of investing in a franchise is the wealth of training and support provided to franchisees. As part of a large network, young franchisees can easily leverage the abundance of knowledge and experience made available to them for business success. (And the amount of training you must undergo may not seem so daunting as a recent graduate too.)
4. Franchises at Every Price Point
You might think you need millions of dollars to open a franchise, but over 80% of the franchises on LookforaFranchise.ca are available for under $500,000. That’s less than the cost of house in many Canadian cities! And, with franchises starting as low as $10,000, there’s a franchise at every price point.
Bottom line: Getting an early start in the franchise business will give you the room to learn and grow. You’ll have the support without all of the risk, which makes investing in a franchise a viable option for any young entrepreneur.
Find your next franchise opportunity at LookforaFranchise.ca! Use the index to discover franchises that meet your investment and location needs.