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

TruBlue Home Service Ally

Be a Community Hero: How TruBlue Franchisees Are Changing Lives Beyond Business

be-a-community-hero-how-trublue-franchisees-are-changing-lives-beyond-business

Caring Transitions

Caring Transitions Wraps Up Record-Breaking Q3 With National TV Launches, Platform Growth and Key Leadership Promotion

caring-transitions-wraps-up-record-breaking-q3-with-national-tv-launches-platform-growth-and-key-leadership-promotion

SweatHouz

SweatHouz SWTHZ Franchise - Hunter and Mallory Mitchem - Franchisee Feature - 1851 Franchise

From Aerospace to Wellness: Hunter Mitchem’s Journey to a SweatHouz Empire

sweathouz-franchise-hunter-mitchem-6g

Onigilly Japanese Kitchen

Onigilly - Low Operating Costs Drive High Returns for Franchisees - 1851 Franchise

Maximize Your ROI: How Onigilly’s Low Operating Costs Drive High Returns for Franchisees

onigilly-franchise-fast-casual-franchise-opportunity

Layne's Chicken Fingers

What Is the Layne’s Franchise Disclosure Document, and What Will I Find in It?

laynes-franchise-disclosure-document

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

Bed Bath & Beyond - Franchise Expansion - Retail Strategy - 1851 Franchise

Bed Bath & Beyond Launches Franchise Model as Part of Comeback Strategy

bed-bath-beyond-franchise-expansion-retail-strategy

Senior Entrepreneurship - Franchising - 1851 Franchise

Senior Entrepreneurship Is Rising — And Franchising Is a Key Outlet

senior-entrepreneurship-franchising-silver-startups

U.S. Government Shutdown - Impact on Franchises - 1851 Franchise

Government Shutdown Stalls SBA Loans: How the Shutdown Could Impact Franchises

government-shutdown-impacts-sba-loans-tourism-franchises

Subway Franchisees Resist Expensive Remodel Directives

subway-franchisees-resist-expensive-remodel-directives

The American Franchise Act: What It Means for Franchisors and Franchisees - 1851 Franchise

The American Franchise Act: What It Means for Franchisors and Franchisees

american-franchise-act-joint-employer-standard

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

smoothie-king-food-menu-power-eats

NJCAR v. Ford - New Jersey Supreme Court Limits Standing Under Franchise Practices Act

New Jersey Supreme Court Limits Standing Under Franchise Practices Act

new-jersey-franchise-practices-act-njcar-v-ford

Friendly’s Parent Company Acquired by Multi-Unit Franchisee as More Owners Take the Lead in Brand Acquisitions 

friendlys-parent-company-acquired-by-multi-unit-franchisee-as-more-owners-take-the-lead-in-brand-acquisitions

Top Education Franchises To Consider for 2025 - 1851 Franchise

Top Education Franchises To Consider Investing In for 2025

top-education-franchises-investment-opportunities

Top Early Childhood Education and Child Care Franchises for 2025 - 1851 Franchise

Top Early Childhood Education and Child Care Franchises for 2025

early-childhood-education-child-care-franchises

1851 Franchisee Spotlight graphic with photo of Barb Volk and KidStrong logo

Why This Orangetheory Fitness Franchise Owner Is Developing KidStrong Franchises

kidstrong-franchise-owner-barb-volk-2025

Top Arts and Creative Learning Franchises for 2025 - 1851 Franchise

Top Arts and Creative Learning Franchises for 2025

top-arts-creative-learning-franchises

3 Steps to Being a Successful Franchise Owner Under 30

MORE STORIES LIKE THIS