According to one anonymous startup consultant, most of today’s young entrepreneurs who’s first real work experience is in an internet startup, will turn to franchising in their late thirties.
“There’s a point in everyone’s life, when they need to do something real. There will be a point where they can’t live on energy drinks and candy anymore, and need to get a real job to pay their mortgage, for swim lessons and braces for their kids.” These young people, who came into adulthood in the second decade of the 21st century, won’t settle into place in a corporate job for their rest of their lives. They’ve been born and bred on the idea of making something themselves. “They’re not going to be content pushing papers in a cubicle,” our anonymous consultant said in an conference call last week.
He predicts that a large percentage, somewhere in the range of 50-60% range will turn to franchising in the coming decade and a half. Franchising will appeal to these former-startup founders because of all the aspects that make it unattractive to them right now: including the cookie-cutter approach to building a business, extensive training and franchisor direction, and reduced risk of buying into an existing brand.
“Today’s entrepreneurs aren’t going to be content to just follow the rules, though. Franchisors need to be prepared for this radical and creative influx of talent in the coming years.”