The Young and the Restless: Americans entering the workforce look to franchises

JORDY PATANO With an unemployment rate that continues to slowly decline, few sectors of the population are impacted more than others, including America’s youth. Young Americans between the ages of 18 and 34 have had to overcome increasingly high barriers that keep them either underemployed or out of the workforce altogether. According to Demos, the economy would need to add 4.1 million new jobs for young adults in order to return to the same employment level as before the recession began. Even with the latest jobs numbers, there is no significant change in the economic challenges that young Americans face, with more than 5.6 million young adults looking for work and composing 45 percent of all unemployed Americans. The result? Many young Americans are turning toward entrepreneurship by either creating their own businesses or finding refuge in areas where they can take control of their own destiny and open their own business. Low-cost franchise opportunities offer a huge advantage to budding entrepreneurs as well as those in the service and food industry. Around the world, the Global Entrepreneurship Monitor found that the majority of entrepreneurs were between the ages 18 and 34, especially in economies like Europe, the United States and China. Partially forced into these roles, the youth have found some relief from the turbulent economic challenges. Among those who have started a business from the ground up is founder and CEO of The Junkluggers, Josh Cohen (30 years old), who demonstrates that conforming to corporate America isn’t for everyone. Josh started The Junkluggers in college to make some extra cash and decided to leave his real estate career to pursue his passion as a small-business owner. Focusing on the business full time, Josh has turned The Junkluggers into a booming business in New York, New Jersey, Connecticut and Pennsylvania. Even young entrepreneurs are deciding to leave their job search behind for the more hopeful waters of small business ownership through franchising. Those like recent college graduate Andy Grant of Soccer Shots turned to small-business ownership to overcome the challenges that come with securing a job in the oversaturated job market in Birmingham. Some take a different route, like Matthew Pollard (30 years old) with Mr. Appliance who worked for a food processing company managing 60-80 people. Matthew was determined to have more control over his future and attainable growth in his career. Less than two years into opening, Matthew was awarded the Rookie of the Year award. Clearly, there are larger challenges as a society with a generation out of work. Through small business and franchising, there are steps being taken to bring this age group back into the labor force today and young entrepreneurs are seizing the opportunities as they come.