Why Millennials Are Becoming Franchisees

Around the office, Hao Lam is known as “the old man.” By franchise-industry standards, the 47-year-old owner of Best in Class Education Center represents a fairly average age. But Lam’s COO is only 27. Everyone else on the corporate staff is in their late 20s or early 30s. And about one-third of Lam’s franchisees are Millennials, the generation born between the early 1980s and the early 2000s.

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