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Are Recent College Graduates Best for Franchise Success?

Written on July 22nd, 2009 by Joseph in Franchise News.

College graduates generally look for fields that work with their degree. But the faith in corporate America has dwindled recently and the process of outsourcing has left many graduates doubting the prospect of their career. So, increasingly they are looking for franchise businesses instead of joining the corporate world. This has brought in a drastic change in the working pattern of the franchising field, which was traditionally meant for people looking forward to start their second innings. Even franchisors are wooing the fresh graduates.

But opinion is divided on how reliable and stable a fresh college-graduate is as a franchisee. It is observed that only new and emerging franchisors are going for them whereas the old and established ones still prefer people with some amount of experience. Both sides have put up their point of view.

Arguments in favor of fresh graduate going for franchise opportunities -

• They can easily learn new things and so, make great franchisees. Franchise business is mostly about running an invented-wheel properly. So, if the franchisor teaches them well, the inquisitive mind of the fresh graduates easily soak up the instructions. Thus, they can find great success as franchisees.
• The fresh attitude and enthusiasm coupled with proper business sense helps the young graduates find success more easily. Once they get to taste the joys of working for oneself and earn handsomely, they are hooked to it for life.
• With age on their side, these graduates go a long way as franchisees and eventually become integral part of the franchise companies.
• With an environment that is supporting these young entrepreneurs extensively, they can get all the help they want.

Arguments against fresh graduates who buy a franchise -

• They don’t have much life skills and may lack experience of working in a team.
• They can be hasty in choosing their franchisor and many times, end up selecting the wrong ones. If they are willing to take the help of a franchise consultant, this can easily be overcome.
• They don’t have their own source of funding and will encounter more difficulty getting help from professional financial lenders.
• They may not yet have developed a solid ability to judge character and may recruit wrong kind of people. As a result, even if they are serious, the business sometimes suffers considerably.

Basically, it’s difficult to categorize any demographic of people collectively. There are some who are wired to overcome the perceived challenges and will succeed. Others who don’t have the drive or commitment won’t. However, franchising remains a business venture that can and will benefit from the passion and excitement that a recent college graduate can bring. And that graduate who has the drive to own his or her own business can greatly benefit from following someone else’s proven model.

If you want to get further information on this topic, contact brandEXPANSION.

One Response to “Are Recent College Graduates Best for Franchise Success?”

RYAN Left at 7:34 pm on September 7th, 2010
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