How to Attract Millennial and Gen Z Franchisees

Millennials and Gen Z are primed to bring a new wave of innovation and technological prowess to franchising. Their youthful enthusiasm and progressive ideas make for a powerful combination as they join existing brands, guiding them in their next stage of growth. 

Because these younger age groups operate differently than older generations, franchisors must understand their motivations and how to best reach and pull them in. Ultimately, as these generations take over the franchising space, a brand’s ability to adapt to their needs and desires may determine the company’s profitability and survival.

Digital Marketing and Online Presence

Any brand that lacks a robust and intuitive online platform will struggle to capture the attention of younger age groups.

“Millennials and Gen Zers are the most tech-savvy generations yet, so you'll need to make sure your franchise has a strong online presence,” said Oberon Copeland, CEO and founder of veryinformed.com.

Creating modern marketing that is easily accessible is critical for young prospects. Developing compelling content on Instagram, Twitter, Facebook and TikTok will do wonders for pulling in future owners.

“Use social media, search engine optimization and other digital tools to reach out to potential Millennial and Gen Z franchisees where they're already spending their time,” said Copeland.

Accessible Operating Models and Increased Freedom

According to a Pew Research poll, 60% of workers with remote-friendly jobs would like to work remotely most or all of the time.

The next generation of business owners distinctly prioritizes a work-life balance as they embark on an entrepreneurial journey. While they still value growth and ROI, there seems to be an equal appreciation for freedom and recreation outside the workplace.

“For many Millennials and Gen Zers, traditional business ownership isn't realistic — they may not have the capital or the time to commit to a full-time venture,” said Copeland. “So be open to alternatives like part-time ownership, co-ownership and even absentee ownership. These options will make your franchise more accessible to a wider range of potential owners.”

It may be in a franchisor’s best interest to concede to this demand and allow alternative ownership opportunities — the brands that do can expect an increased lead pool.

Mission and Values

The next generation of owners is eager for chances to give back, so they gravitate toward brands that allow them to make a positive impact.

“Millennials and Gen Zers are often motivated by a desire to make a positive impact on the world, so make sure your franchise's mission is something they can get behind,” said Copeland. “In addition, highlight the values that your franchise upholds — things like sustainability, social responsibility, and diversity.”