The profile of franchisees is evolving, with a notable increase in younger individuals entering the industry. Traditionally seen as a second career option, franchising is now appealing to younger applicants due to lower startup costs and simplified operations. Young entrepreneurs, sometimes in their 20s, have a growing presence among franchise owners, with nearly 50% being under 40. Education programs in franchising are being introduced in colleges, encouraging this demographic to consider franchising as a viable career path in today's economy, shaped by events like the Great Recession and the pandemic.
Katie Webb attended a Stretch Zone discovery day at age 30, inspired by the young, energetic CEO Tony Zaccario, who effectively addressed her questions.
Today, Webb owns five Stretch Zone locations in Florida and notes that around 50% of franchisees are under 40, signaling a substantial demographic shift.
Certain franchise types have seen younger applicants, thanks in part to lower fees and simplified operations, making franchising appealing to first act entrepreneurs.
Colleges now offer franchising certificates and programs, which encourage young people to explore franchising, reflecting changing societal views about entrepreneurship.
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