10 Franchises Millennial Entrepreneurs Love

Millennial franchisees are doing business a little differently than their predecessors. 

“Mainly, they're looking for things that they are interested in and that fulfill them,” said Dan Rowe, CEO of Fransmart. “They're pretty self-aware and sure of what they want to do, what makes them happy and what makes them tick. So they're looking for businesses that are like that.”

Rowe noted that another group of Millennials is buying traditional franchises, but they are the types of businesses that run themselves, allowing the owners to have the money to do the things they enjoy. Compared to older generations, Millennials seem more focused on work-life balance than making as much money as possible. 

“They’re wired differently, so they want things that matter to them,” added Rowe. 

Here are ten of the franchises Millennial entrepreneurs are investing in. 

TaKorean

Investment Range: $215,500–$781,500

Startup Costs: $215,500–$781,500

TaKorean, the restaurant franchise offering Korean flavors with a Latin-American twist, is one of the most sought-after concepts in foodservice franchising. The franchise has evolved from a local food truck to a chain of quick-service restaurants — a sector popular with on-the-go Millennials. Further, younger consumers have been gravitating towards bolder cultural flavors and fusion cuisine, making it an excellent option for Millennial franchisees. 

Clean Juice

Investment Range: $279,500–$523,000

Startup Costs: $279,500–$523,000

Unit Count: 100-plus

Clean Juice has grown from one location to over 100 in just over five years. It prides itself on ??being the very first USDA-certified organic juice bar franchise opportunity. The franchise team comprises people genuinely interested in health and wellness, particularly in organic food. Millennials are a health-conscious generation, making them drawn to opportunities such as Clean Juice. 

The NOW Massage

Investment Range: $414,850–$767,600

Startup Costs: $414,850–$767,600

Unit Count: 30 (100-plus signed)

The NOW Massage is an emerging massage brand committed to offering high-quality, customizable massage services without the time commitment and cost of a traditional spa. The brand caters to Millennial and Gen Z guests with its highly Instagrammable locations that feature clean, modern interiors inspired by nature. Forbes even dubbed it “L.A.’s most stunning self-care oasis.” 

CycleBar

Investment Range: $284,350–$497,150

Startup Costs: $284,350–$497,150

Unit Count: 250-plus

Boutique fitness classes are booming with health-forward Millennials. One of the fastest-growing options in the U.S. is CycleBar. This large indoor cycling brand offers a variety of low-impact, high-intensity indoor spin classes that are inclusive of all fitness levels.

Orangetheory

Investment Range: $576,022–$1,498,122

Startup Costs: $576,022–$1,498,122

Unit Count: 1,500-plus

Similarly, Millennial entrepreneurs are seeking out Orangetheory, the high-intensity workout franchise. Younger consumers are known to be more experience-searching than the generations before them. Since they are also health-conscious, the generation flocks to unique fitness concepts, such as Orangetheory. 

Heyday

Investment Range: $768,300–$1,012,300
Startup Costs: $768,300–$1,012,300
Unit Count: 10

Heyday is a rapidly growing franchise focusing on making facials more accessible and is poised to become a leader in the skin care industry. It is largely bolstered by new owners, many of whom are Millennials, such as Adrian Amrine, who opened a location in Chicago this July. Skincare is more popular than ever with younger consumers. In fact, 75 percent of Heyday’s returning customer base are aged 35 and under. 

Fetch! Pet Care

Investment Range: $74,967–$98,667

Startup Costs: $74,967–$98,667

Unit Count: 100-plus

Another thing Millennials are very passionate about is their pets. Pets are being pampered like never before by their young parents. Enter Fetch! Pet Care, America’s largest dog-walking and pet-sitting franchise. Animal-loving franchisees market in their local communities to build strong relationships with their human and animal clients alike.

ecomaids

Investment Range:  $116,465–$141,815

Startup Costs:  $116,465–$141,815

Unit Count: 100-plus

Millennials are typically an eco-friendly generation, making something like ecomaids a perfect fit. ecomaids is a ??sustainable home-cleaning franchise under the umbrella of parent company Happinest Brands. The emerging concept offers residential and light commercial cleaning services using Green Seal-certified products and supplies that are non-toxic, chemical-free, all-natural and biodegradable.

Gong Cha

Investment Range: $177,430–$335,400

Startup Costs: $177,430–$335,400

Unit Count: 1,670-plus

Gong Cha has been leading the movement of bubble tea from Asia into the U.S. for over ten years and is a favorite among Millennials and Gen Z. Bubble tea is currently a $2 billion industry and is expected to hit $4.3 billion worldwide by 2027, according to Allied Market Research. Gong Cha has reported a steady rise in interest, particularly among young consumers, due to affordable price points and a plethora of customizable options. 

A&W

Investment Range: $276,000–$1,469,554

Startup Costs: $276,000–$1,469,554

Unit Count: 500-plus

Younger generations are drawn to A&W’s nostalgic approach. Liz Bazner, senior director of marketing, believes younger generations are drawn in because being an A&W consumer almost feels like an exclusive experience. The company’s unique marketing and menu allow consumers to relive memories, while its forward-thinking style keeps it relevant even after 100-plus years of operation.