Tuesday, April 29, 2008
Franchising For Young Franchisees
Franchising certainly provides those in mid life or with retirement assets an opportunity to experience entrepreneurship. However, franchising may also be a good experience for those in their twenties or thirties. Many college graduates in today's job market may find stiff competition to start a good career. Their lack of experience may make that task harder. Franchising could allow them the opportunity to gain valuable business experience and training for future business or career opportunities. Depending on the franchise, lack of experience doesn't necessarily preclude business success. Good franchises provide franchisees with ongoing training and support. In addition, the nature of franchising is that it generally offers the advantage that is lacking in a regular start-up business. A developed brand is proven and the success of the business opportunity can be explored through investigation of the franchise prior to actual investment. Early sales experience in high school or during college, while not lucrative, may be an additional edge for a young entrepreneur exploring franchising. Financing may be tricky, but there are low investment franchise opportunities and even young franchisees with good credit may not find this a major handicap.