If you dream of becoming a business owner, you’re certainly not alone. Many younger people share your ambition, but they also share a common hesitation. Don’t you need years of experience and lots of available cash to start a business, they think. Well, not really. In fact, young business owners can even claim some advantages!
The following aspects of becoming a franchisee can actually work in your favor, if you’re younger than the average business owner.
You have transferable skills. As a franchisee, you will work with the franchisor to learn their specific business niche. You’ll be following a proven business model, so you aren’t building everything from scratch. But the following traits will certainly help you to succeed:
- Communication skills
- You know how to network
- Solid judgement
- Financial awareness
- Willingness to learn
- Ability to delegate responsibilities
- Willingness to identify resources and seek help
- Strong work ethic
These are all characteristics that many young people have in spades! In fact, you’re less likely to be set in your ways, and more open to learning new ways of doing things. That’s a plus for a franchisee.
You’re open to training. On that note, many older, more experienced business owners tend to be set in their ways. But because younger people are still learning the business world, they are often more open to training. Opening a franchise is all about learning a proven business model and pursuing it, so those who are open-minded can be a perfect fit.
You have time to grow. Young business owners start out with the understanding that they’re less experienced than older ones. But they also have time to fully study their demographic, learn their market, and grow gradually over time. You’re likely to feel passionate about growth and have the energy to continue developing your business over the decades. One franchise location now can turn into an empire in time! And you have the time and dedication to pursue that dream.
And we know what you’re thinking… What about the financial side of things? It’s true that in order to start your own business from scratch, you usually need to gather significant capital. But with franchising, it can be possible to start with a relatively low initial investment. Give us a call to learn more, and we’ll show you how owning your own business can be possible for just about anyone.