Cassidi Brown wanted her Coolgreens to stand out among the nearby restaurant chains in her Dallas suburb. So she began building a selfie wall, covered with succulents and vines, that would live at the store’s entrance. She promoted the store’s opening with social media posts featuring the staff playing Jenga. And two days before the official launch, she opened the doors for a fundraising event for low-income residents in the area.
As a franchisee, Brown is ambitious and innovative. She also believes she knows how to draw in young customers because, well, she’s their age. At 28, she represents a generation the franchise industry has struggled to recruit.
“Franchise systems are aging,” says Mark Siebert, the founder of iFranchise Group and author of The Franchisee Handbook. “As they do, there’s a need to replace the older franchisees.” The numbers are stark: The majority of franchisees across the U.S. are between 46 and 65 years old, according to FRANdata, a franchise analytics company. But as the industry ages, it also grows. Roughly 300 companies begin franchising each year. In 2017 alone, 43,500 new franchise units opened up—meaning demand for new franchisees will only increase.
And who is frequenting all these new franchises? Increasingly, it’s young people. Food is, of course, franchising’s largest category, and millennials spend 23.8 percent of their discretionary budget eating out, according to data by Bank of America. That’s nearly double what baby boomers spend, making it increasingly important that franchise brands know how to appeal to the next generation of customers.
This is why, for many franchise brands, youth recruitment is becoming a priority—though it isn’t always easy.
Continue reading your story on the app
Continue reading your story in the magazine
Don't Compete. Differentiate!
Want to scale your business? Stop worrying about the competition, and focus on these three areas instead.
100 Women Of Impact – Eva Longoria
Eva Longoria became famous as an actress, but her real mission was to be the boss—and then give opportunities to women who might never otherwise get them.
Where Change Leads You
The process can be painful, but the goal is profound: Find something new that you’d never want to lose.
The Big Are Getting Bigger
Major acquisitions. Consolidations. Conglomerates. What’s going on in franchising? The answer says a lot about where the industry is heading—and what growth means going forward.
Innovation Comes from Intrapreneurs
Employees say they’re unhappy. Companies are struggling to navigate massive change. The solution to both? It’s creating a culture of intrapreneurship.
Lessons That Are Worth Billions
How did Michael Dell build one of the most valuable technology companies in the world? By being willing to try, fail, and learn.
Mapping the Route to Success
The tourism industry is ready for a comeback, and travel agents are proving their worth like never before.
What Did You Cut?
To stay agile, business owners must often rethink what they truly need. We asked six entrepreneurs: What expenses have you realized your company is better off without?
Facing a Hard Choice? Get Out of Your Head
When we look at a decision through someone else’s eyes, change becomes a lot easier to make.
Making the First Sale
My sales career was almost cut short by my parents.
The Next Generation Of Franchising
There are as many reasons for investing in franchises as there are franchise investors. And whether the objective is blending lifestyle with business or maximizing income, franchisers offer opportunities to match almost any motivation.
5 Inspirational Success Stories To Motivate Aspiring Franchisees
5 inspirational success stories to motivate aspiring franchisees
10 Ways To Make $1 Million
Our smart strategies will help you reach (or surpass) the seven-figure milestone.
McDonald's: Not Lovin' It
Skinny lattes, wraps, and other frustrations of McDonald's owners.
COCO, FOCO, AND FOFO: WHAT'S THE RIGHT PICK?
Choosing the business model will largely depend on the capital available, growth trajectory, development stage, and brand name
The Building, Office And Home Services Sector
A pocket of excellence in franchising
An Affordable Start
Low-cost franchise and business opportunities open avenues for entrepreneurs...
IPL 2021 : नीलामी में इन्हें किसी ने नहीं रवरीदा, लेकिन इनकी XI किसी भी टीम को टककर दे देगी
क्या फ्रेंचाइजी इन रिवलाड़ियों के हुनर को पहचानने में गलती कर गए? इसीलिए एक मजेदार रव्याल ये है कि क्यों न एक इलेवन उनकी बनाएं, जो नहीं बिके।
A Vibrant And Expanding Business Sector
Love working with kids? Then investing in a franchise or business opportunity with kids at the core could be the answer...
मनसे भिवंडी शहर अध्यक्ष सहित सचिव को 5 दिन की पुलिस हिरासत
भिवंडी शहर तथा ग्रामीण क्षेत्र में बिजली आपूर्ति करने तथा बिल वसूल करने का ठेका फ्रेंचाइजी टोरेंट पावर कंपनी को राज्य सरकार द्वारा दिया गया है।