How Millennials Are Well Suited for Franchising
When you hear the term “millennials”, your mind probably doesn’t finish the phrase with “are perfect for franchising”. However, in actuality, it’s a pretty accurate statement. Millennials are perfect for franchising. In fact, in an interview with Entrepreneur magazine, our CEO Hao Lam proudly shared his comments on how millennials have impacted the Best in Class education franchise.
Millennial professionals are finding that the franchise industry is conducive to their lifestyles and can provide them with the kinds of opportunities that they’re looking for. Of course, we may be a tad biased, but we might also venture to say that a learning center franchise is an excellent option for millennial entrepreneurs.
The Millennial’s Special Skills
Millennials grew up with modern technology as a regular part of their lives, which has generally led them to be more open to utilizing it. This can be an important factor in the franchise industry. It’s not unusual for franchisors to add technologies for improving factors such as communication and systematic processes. For instance, a Best in Class education franchisee is provided with software that not only tracks students and their progress, but also gives them access to proprietary curricula and materials.
Furthermore, Millennials are typically great at navigating various social media channels since the technology has been integral in how they communicate and connect with others. Why is this significant? Creating buzz about an idea is at the crux of social networking, which has made it a juggernaut in the marketing realm. Having an understanding of how to effectively evangelize a brand online is an incredibly valuable marketing skill that millennials tend to have.
Quality of Life Is Important
Clocking in and out for just a paycheck is not often a part of the millennial psyche. As an education franchise that helps kids become productive members of society, we understand this concept. Creating a meaningful lifestyle means doing good for both yourself and others. Often times, a millennial will seek franchise brands that make a positive difference in the world and allow them the freedom to grow and thrive as they see fit. The franchise industry includes many brands that are focused on providing a valuable service to the community.
Moreover, since successful franchises have a proven business model, millennials can get the feeling that they’re not starting from scratch. Much of the legwork of establishing a brand has been done for them, so they can dive in and utilize their skills and strengths quickly. Additionally, some franchises don’t require the same kind of commitment a 9-5 job does. As an example, a Best in Class education franchise owner is expected to commit only 12 to 24 hours a week per location, making it easy to either spend more time on personal growth or opening additional franchise units.
Clearly, franchising and Best in Class are well suited for a millennial interested in starting a business. That’s not to say, however, that our learning center franchise is only for one demographic. We have franchisees of all ages and backgrounds, and they’re experiencing incredible growth and success. Currently, there are Best in Class locations in nearly a dozen different states with more expected to follow. Plus, there is global expansion in the cards for us as well!
Does it sound like Best in Class is right for you? Find out more about an owning an education franchise with us!