1851

This month, I DECIDED to focus on what I believe to be the second largest hurdle when it comes to buying a franchise: the decision (the first being you want to even consider buying a franchise, period).The decision is something I watch a lot of humans struggle with – not just franchisees. Where should we go for lunch? What time do you want to leave? Should we do this? When faced with making a decision, even the simplest of ones, the most commonly used phrase is, “I don’t know, what do you want to do?”So, how can <a href="https://1851franchise.com/guide-to-buying-another-franchise-define-your-why-2726331#stories">buying a franchise</a> become an easier and/or faster decision making process? And who should we target for age demographics?Before looking at the data, let’s recognize that a franchise is arguably the most complex thing for a human to buy. They are going to invest their life savings into a brand they have little to no control over and during the buying process are only provided financial information within the FDD, specifically, <a href="https://1851franchise.com/how-to-buy-a-franchise-exploring-item-19-of-the-fdd-2724955">Item 19</a>, where limitations and marketing adjustments could have been made. Oh, and along the way, should they use a broker coach, many have told them they coach for free – earning fake trust that is then never corrected through the buying process.&nbsp;Get it? It is tough.And you thought deciding what you wanted to eat for dinner was tough.I think through my own decision making process. Fortunately or unfortunately, I don’t need a ton of time to make a decision. Maybe that’s because it’s the career I chose. I have to be the leader. I am quick with what’s for dinner but easy should someone else make it. The blind spot for me, however, is if my decision is too fast there is plenty of room for errors.I once invested in a business too quickly without truly vetting the founder I was investing in. My speedy trigger has given me tremendous experience that I have used in my next decision – this, however, is not a luxury for many franchisees. They MUST get it right.So, decisions. I went back to our data with two questions in mind. How fast are people going from impressions to inquiry (not purchase) over the last month; and secondly, what is the age of those decisions?Below 40 (42.8 week average - if you remove the 3 over a year, 4.5 week average)<ul><li>20, 1 week, low investment</li><li>24, 1 month, low investment</li><li>32, 4 months, low investment</li><li>35, 1 month, low investment</li><li>37, 1 week, low investment</li><li>23, 1 month, high investment</li><li>23, 2 weeks, high investment</li><li>30, 2 years, high investment</li><li>35, 2 years, high investment</li><li>39, 3 years, high investment</li></ul>40-50 (57.2 week average - if you remove the 2 over a year, 11.875 week average)<ul><li>40, 4 months, low investment</li><li>41, 1 year, high investment&nbsp;</li><li>44, 1 month, low investment</li><li>44, 3 months, low investment</li><li>44, 3 months, low investment</li><li>39, 3 years, high investment</li><li>42, 6 months, high investment</li><li>42, 2 months, high investment</li><li>44, 1 month, high investment</li><li>49, 3 months, high investment</li></ul>50+ (122.4 week average)<ul><li>50, 1 year, low investment</li><li>53, 6 months, low investment</li><li>55, 5 years, low investment</li><li>60, 3 years, low investment</li><li>62, 3 years, low investment</li><li>50, 2 years, high investment</li><li>50, 2 years, high investment</li><li>53, 5 years, high investment</li><li>56, 2 years, high investment</li><li>57, 2 years, high investment</li></ul>So, it’s easy to conclude that younger folks are quicker than older folks to decide on franchising. Perhaps this is because more life/career experience creates more complexity to making the giant life change. Now, this is where the unfortunate part of the data comes. This is to sell a franchise, not to drive great royalty. Because what this data doesn’t do is connect performance and scale with the individuals. Thus, if 50+ makes franchisors 10X, wouldn’t they be willing to wait longer for the right candidate? Perhaps not. &nbsp;

Coffee and Analytics: Do Younger People Buy Franchises Faster?

1851 Franchise

https://www.youtube.com/embed/jOYea0aDZqs

Some data suggests that younger people make decisions quicker. How does that impact the decision to buy a franchise? What goes into the decision making process?

coffee-and-analytics-do-younger-people-buy-franchises-faster

Sparkle Squad Window Cleaning Services

Sparkle Squad Franchise - Happinest - Troy Oliphant - 1851 Franchise

How This Sparkle Squad Franchise Owner Builds Community Connections and Steady Revenue

sparkle-squadd-franchise-kansas-city-troy-oliphant

Woodhouse Spas

Woodhouse Spas Franchise Support - 1851 Franchise

How Woodhouse Spas Franchising Works: A Deep Dive Into Support and Success

woodhouse-spas-franchise-support

Express Employment Professionals

How This Veteran Helps Others Find Work Through Express Employment Professionals

how-this-veteran-helps-others-find-work-through-express-employment-professionals

SweatHouz

SweatHouz Franchise - SWTHZ - Brenna and Kevin Dorsey - North Bethesda, Maryland - 1851 Franchise

A Family Bet on Wellness: The Dorsey Duo’s Journey With SweatHouz in North Bethesda, Maryland

sweathouz-franchise-north-bethesda-dorsey

Dillas Quesadillas

images of dillas quesadillas included in Franchise Times’ roundup of restaurant brands expanding

Franchise Times: Dillas Primo Quesadillas Featured as a Brand in Expansion Mode

franchise-times-dillas-quesadillas-expansion-mode

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

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

FAT Brands Nears Bankruptcy as Creditors Demand Repayment of $1.3 Billion Debt

fat-brands-nears-bankruptcy-as-creditors-demand-repayment-of-13-billion-debt

Callaway Sells Majority Stake in Topgolf to Private Equity for $770 Million

callaway-sells-majority-stake-in-topgolf-to-private-equity-for-770-million

Keith Sizemore headshot, Radiance Holdings

Radiance Holdings Names Keith Sizemore Chief Development Officer

keith-sizemore-radiance-holdings-cdo

Jobseekers Are Flocking to “Unglamorous” Jobs — And Home Service Franchises Could Benefit

Jobseekers Are Flocking to “Unglamorous” Jobs — And Home Service Franchises Could Be Poised To Benefit

jobseekers-shift-boosts-home-service-franchises

The future of recovery studios, health and wellness franchise

The Future of Recovery Studios: Why Wellness Franchises Are the Next Fitness Boom

the-wellness-boom-recovery-franchises-future-fitness

Photo of group of dogs standing together in day care facility

Top Pet Boarding and Day Care Franchise Opportunities for 2025

top-pet-boarding-daycare-franchises

The Top 15 Pet Wellness and Vet Care Franchises for 2025

top-pet-wellness-franchise-opportunities

Empowering Entrepreneurs: Resources and Franchises for Minorities

empowering-entrepreneurs-resources-and-franchises-for-minorities

The Top 15 Pet Supplies and Retail Franchises for 2025

the-top-15-pet-supplies-and-retail-franchises

image of jerome hanway from right at home Las Cruces, New Mexico 1851 franchise franchisee spotlight

Jerome Hanway Is Building His Right at Home Franchise Around His Mission To Serve

right-at-home-franchise-las-cruces-jerome-hanway

A Practical Playbook: Who To Call First When Franchising Your Business

franchising-your-business-who-to-call-first

1851 Franchisee Spotlight graphic with photo of Eli Cohen, Layne's Chicken Fingers logo

C5 Restaurants Grows its Texas Footprint with 40 Layne’s Chicken Fingers Locations Planned Statewide

eli-cohen-laynes-chicken-fingers-texas

image of stephen westerman and matthew westerman, owners Fort Walton Beach Two men and a junk truck

Twin Brothers Move From Managers to Owners with New TWO MEN AND A JUNK TRUCK Franchise on the Gulf Coast

twin-brothers-two-men-and-a-junk-truck-fort-walton-beach

Paris Baguette Welcomes Zac Sulma as New Chief Operating Officer

new-coo-zac-sulma

Coffee and Analytics: Do Younger People Buy Franchises Faster?

MORE STORIES LIKE THIS