When someone mentions the term “franchisee,” the image that often comes to mind is a middle-aged man or woman. But over the past decade, there’s been a dramatic shift in the industry. As a result, a new generation of business leaders are emerging. These leaders are known as the millennial generation.
Millennials have grown up in a culture of entrepreneurship. They have seen other generations turn their ideas into startups, successful apps, notable nonprofits and small businesses that grow on the strength of their ideas and efforts.
And yet with all of that motivation to run their own business, those fresh out of college often lack the essential skills, knowledge, resources, network, and support that are necessary to run a successful business. That is why franchising is an attractive option for young entrepreneurs.
Franchising offers a range of opportunities to fit the interests and skills of millennials looking to start a business. Many are low cost and home based businesses that offer both flexibility and independence. Here are just a few options for young entrepreneurs interested in entering the world of franchising to consider.
Robin Autopilot is the world’s first robotic lawn care service to combine proven robot mower technology with highly professional human crews to create a more eco-friendly, reliable and affordable lawn care experience. The company offers young entrepreneurs ground floor access to a disruptive technology with a fast startup and expansion model, low overhead and fixed expenses, all with the potential to result in a quicker return on their investment.
The TutorDoctor franchise offers low-cost entry, a focus on technology and the ability to get up and running quickly due to no inventory, no build-out and no lease. This framework sets young entrepreneurs up to begin seeing cash flow rather quickly. Ranked No. 1 “At-Home Tutoring Franchise Worldwide” by Entrepreneur 500, TutorDoctor offers franchisees the flexibility to work from home and have control over their work schedule.
Founder Jonathan Barnett started the franchise at 26. This concept appeals to millennials because of its low-cost, tech-based model. The environmentally friendly cleaning business is attractive to those who are eco-friendly. The company was founded in 2006 and has grown to more than 320 units earning a spot on Franchise Gator’s Top 100 list for 2015, 2016 and 2018, as well as a spot on Franchise Gator’s Fastest Growing Franchises list for 2017.
The demand for virtual medical and health services is growing exponentially, and GoTelecare is a recognized leader in the industry offering one of the most comprehensive telehealth video consultation and medical billing services. GoTelecare franchisees benefit from operating in a high demand industry with a proven solution and a successfully tested business model. For a young entrepreneur, GoTelecare offers an opportunity to be part of one of the fastest growing sectors of health care.
Ranked on Franchise Gator’s Fastest Growing list (2015, 2017), Franchise Gator’s Top Emerging list (2017) and on Entrepreneur magazine’s Top 500 Franchises list (2017), Garage Experts is one of the fastest growing companies in the category of home garage organization. For young entrepreneurs, Garage Experts is an attractive option with its low-cost entry fee and guarantees that if you don’t make $750,000 in gross sales in the first three years, they will refund your fees through a 10-month royalty holiday. In addition, veterans receive 10 percent off of licensing fees.
Eric Bell, General Manager at Franchise Gator, has more than 15 years of franchise industry experience. He began his career in 2002 as a Hollywood Tans franchisee in Atlanta where he also served as area manager and helped develop the Atlanta territory. In October 2005, Eric joined Franchise Gator as a sales representative and went on to hold several positions including sales manager and director of sales and service. Eric is also a member of the Southeast Franchise Forum and is a Certified Franchise Executive.