How Millennials are Finding Success with Franchises

Franchise Development
09/29/2015
Millennials are Finding Success with Franchises

Franchising offers a unique opportunity for aspiring entrepreneurs to own their own business. In particular, millennials are looking for opportunities to be self-made and independent, which is different from the traditional office job of their predecessors. In fact, a 2014 survey from Deloitte found that 70 percent of millennials might “reject” traditional business to work independently. Enter franchising.
 

Tools to succeed
 
Millennial franchisees like Alex Chambers of The UPS Store find it appealing to have the chance to develop autonomous goals and grow their own business. Initially, Alex began working at her father’s The UPS Store franchise location as a way to get through graduate school. However, she quickly realized that owning and operating her own business was a passion.
 
“The positive work atmosphere, opportunities to grow and customer interaction are a perfect combination for a challenging, yet equally rewarding career,” said Chambers. “It was appealing to have the chance to be self-made, and franchising allowed me the independence to develop my own goals and take the business to the next level.”
 
Passion for the business is important, but you also have to have the business skills and tools to succeed. Franchising provides a framework and set of tools to help millennials who might not have prior business experience. With an established business structure, training and a network of support, you have the resources in place to be successful.
 
For instance, The UPS Store franchise model has a proven system. It provides franchisees with comprehensive training programs and resources to develop business acumen and day-to-day operational skills needed to own and operate a franchise. Joining a franchise network also gives you the advantage of access to a wealth of existing resources, such as access to the parent company’s marketing resources, as well as training and development programs at the corporate level. Working within an established brand provides the benefit of already knowing what kind of customer you are serving and what kind of products they would want.
 
“Knowledge of your customers is critical to remaining efficient, successful and sustainable,” said Chambers.  “The positive work atmosphere, opportunities to grow and customer interaction are a perfect combination for a challenging, yet equally rewarding career. “
 
A network of support
 
Another benefit of opening a franchise is the network of other franchise owners. Although many millennials crave the opportunity to be self-made, it’s also an important resource to consider and explore. The ability to network with other franchisees in the area opens the door for great insights into what it takes to own a successful franchise. Working with other franchise owners can be a very positive experience.
 
Franchising allows you to develop your own goals and be entirely self-dependent, but within a framework that sets you up for success. The UPS Store continues to provide support and the latest resources to its network of franchisees nationwide. Aspiring to own your own business and pursue your entrepreneurial dreams? Learn more about The UPS Store franchising opportunity.

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