1851

Due to the fact that the&nbsp;<a href="https://brandongaille.com/19-demographic-statistics-franchises-and-franchisees/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=3-steps-to-being-a-successful-franchise-owner-under-30-2720977" target="_blank" rel="nofollow">median age</a>&nbsp;of franchise owners is between the ages of 45 and 54, younger people might wonder if they're too young to start their own business. However, that is far from the truth.&nbsp;In fact,&nbsp;<a href="https://www.franchiseinsights.com/franchise-prospects/historic-changes-in-franchise-prospect-demographics-millennials-outnumber-boomers-seeking-franchises-in-2021/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=3-steps-to-being-a-successful-franchise-owner-under-30-2720977" target="_blank" rel="nofollow">for the first time in history</a>, 2021 saw more Millennials seeking franchise ownership than Baby Boomers. While Generation X (ages 41-56 in 2021) has shown the greatest share of franchise interest for some years, that share peaked in 2020 at 48.2%, based on year-to-date data in 2021 through June.Being a young franchise owner even has its perks. For example, Hundred Acre Consulting, LLC&nbsp;<a href="https://hundredacreconsulting.com/am-i-too-young-to-be-a-franchise-owner/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=3-steps-to-being-a-successful-franchise-owner-under-30-2720977" target="_blank" rel="nofollow">points out</a> that many young people have the energy and drive to succeed, and are more open to learning alternative ways of doing business compared to the generations before them.&nbsp;So, for those under the age of 30 looking to run a successful franchise, there are several steps that can be taken to ensure success.&nbsp;Do Your ResearchDoing your homework is key to any new business endeavor. Before investing in a franchise, it is important to have a thorough understanding of the franchise model and how it works. This includes researching the franchise company, its history and its current status in the market. It also means understanding the terms of the franchise agreement and the level of support you can expect to receive from the franchisor.Prospective owners can also learn a lot by talking to current franchisees. They can provide valuable information and insights that can help young franchisees make an informed decision, such as what day-to-day operations are like and financial information.&nbsp;Invest and Maintain Focus on Revenue<a href="https://www.entrepreneur.com/franchise/3-steps-to-being-a-successful-franchise-owner-under-30/293758?utm_source=1851franchise.com&utm_medium=article&utm_campaign=3-steps-to-being-a-successful-franchise-owner-under-30-2720977" target="_blank" rel="nofollow">Entrepreneur notes that</a> young franchise owners should abandon the "I bought myself a job" mindset. Instead, continue to invest more in the beginning to gain more in the long run. Paying employees extra to stay open longer, for example, could be a necessity.&nbsp;Additionally, instead of being hyper-focused on areas such as inventory or cost reductions, focus on generating as much revenue as possible. It is less important to cut corners and save than it is to seize opportunities.&nbsp;Take Advantage of Support and TrainingAs a young franchisee, it is important to be open to learning and to take advantage of the support and training provided by the franchisor. This includes attending training sessions, workshops and networking events.&nbsp;Being a successful franchisee under 30 requires plenty of focus and dedication. For this age group and all others, this means being committed to the business and continuously looking for ways to improve and grow.

3 Steps to Being a Successful Franchise Owner Under 30

1851 Franchise

By doing plenty of research, making the right investments and taking advantage of support, under 30s have nothing to be scared of when it comes to franchising.

3-steps-to-being-a-successful-franchise-owner-under-30

HomeTeam Inspection Service

Good Day Columbus: Home Insurance Expert Reveals Why Central Ohio Premiums Are Rising and How to Combat Costs

rising-home-insurance-costs-ohio

CapitalSpring

Primetime Fitness Expands Crunch Portfolio With CapitalSpring’s Backing

primetime-fitness-expands-crunch-portfolio-with-capitalsprings-backing

Children's Lighthouse

How Children’s Lighthouse Franchisees Scale to Multiple Locations

how-childrens-lighthouse-franchisees-scale-to-multiple-locations

Express Employment Professionals

Betting on Himself: How Chris Brown Built an Express Employment Professionals Franchise From the Ground Up

betting-on-himself-how-chris-brown-built-an-express-employment-professionals-franchise-from-the-ground-up

Comfort Keepers

Comfort Keepers® Named One of America’s Best Home-Care Providers

comfort-keepers-named-one-of-americas-best-home-care-providers

Buying a Franchise Masterclass

 Franchise Opportunities

Get Support Buying a Franchise

How to Buy a Franchise White Paper

How to Buy a Franchise

How to Sell Franchises

How to Grow a Franchise

Find a Franchise Supplier

1851 Franchise Opportunities

Franchisor News

Franchisor Power Rankings

FranCamp Mastermind Summit

Franchise Development Website Builder

Franchise Resources

What ALEC-Laffer's Report Means for Franchising

Website Awards

Power Rankings

About 1851

Advertise on 1851

Contact 1851 Editorial

Terms of Use

1851 Login

GROWTH CLUB LOGIN

facebook

instagram

twitter

linkedin

youtube

Potbelly to be Acquired by RaceTrac in $566 Million Deal 

racetrac-acquires-potbelly-in-566-million-deal

Health Care Hiring Slowdown Highlights In-Home Care Franchise Opportunities - 1851 Franchise Agg

Health Care Hiring Slowdown Highlights In-Home Care Franchise Opportunities 

health-care-hiring-slowdown-in-home-care-franchise-opportunities

Caribou Coffee Names Scott Kennedy CEO, Eyes Continued Growth

caribou-coffee-names-scott-kennedy-ceo-eyes-continued-growth

McDonald’s Launches New Extra Value Meals as Consumer Demand for Value Continues to Climb

mcdonalds-launches-extra-value-meals

Power Eats: Smoothie King Rolls Out Food Nationwide To Fuel Franchise Growth

smoothie-king-food-menu-power-eats

Technomic Releases Annual Ranking of the Top 15 Fast-Food Chains in the U.S.

technomic-releases-annual-ranking-of-the-top-15-fast-food-chains-in-the-us

"Come in, We're OPEN" sign against abstract background

Small Business Optimism Dips, Raising Concerns for Franchise Owners

small-business-optimism-dips-raising-concerns-for-franchise-owners

Hely and Hiral Patel Bring Their Longtime Dream to Life With The Brass Tap

brass-tap-franchise-pasadena-maryland-hely-hiral-patel

DevHub - Meet the Supplier - 1851 Franchise

DevHub: Scalable Digital Marketing for Franchises and Multi-Location Brands

devhub-meet-the-supplier

1851 Keyword - The Secret To Succeeding With a Part-Time Franchise Is Picking the Right Model

The Secret To Succeeding With a Part-Time Franchise Is Picking the Right Model

part-time-franchises-picking-the-right-model

1851 Franchise Deep Dive graphic with Sparkle Squad logo

Sparkle Squad Franchise Costs, Fees, Profit and Data for 2025

franchise-deep-dive-sparkle-squad-franchise-costs-fees-profit-and-data

Design with school-aged child standing on pencil with text "Education Franchises" and "<$500K"

Top Education Franchises Under $500K To Explore in 2025

top-education-franchises-under-500k

Franchisee spotlight graphic with photo of Ricki Oberoi and Layne's Chicken Fingers logo

Multi-Unit Wendy’s Operator Signs 12-Unit Deal With Layne’s Chicken Fingers

ricki-oberoi-laynes-chicken-fingers-growth

3 Steps to Being a Successful Franchise Owner Under 30

MORE STORIES LIKE THIS