Should You Buy A Franchise As A Recent College Graduate?
College graduate generally heads for jobs that are compliant with the courses they had undergone in college level. But the faith in corporate America has dwindled in the recent times and the process of outsourcing has left many graduates doubting the prospect of their career. So, increasingly they are looking for franchise businesses instead of joining the corporate world. This has brought in a drastic change in the working pattern of the franchising field, which was traditionally meant for people looking forward to start their second innings. Even franchisors, especially whose target audience is the “Young and the Restless”, are wooing the fresh graduates. Some concepts like “College Hunks Hauling Junk” are typically made of college-going individuals and they also look for franchisees from the same age group. It has something to do with the brand image of the company; a 40-year old potbellied man is certainly not your college hunk, is he?
But opinion is divided on how reliable and stable a fresh college-graduate is as a franchisee. It is observed that only new and emerging franchisors are going for them whereas the old and established ones still prefer people with some amount of experience. Both sides have put up their point of view.
Arguments in favor of fresh graduate going for franchise opportunities -
• They can easily learn new things and so, make great franchisees. Franchise business is mostly about running an invented-wheel properly. So, if the franchisor teaches them well, the inquisitive mind of the fresh graduates easily soak up the instructions. Thus, they can find great success as franchisees.
• The fresh attitude and enthusiasm coupled with proper business sense help the young graduates find success more easily. Once they get to taste the joys of working for oneself and earn handsomely, they are hooked to it for life.
• With age on their side, these graduates go a long way as franchisees and eventually become integral part of the franchise companies.
• With an environment that is supporting these young entrepreneurs extensively, they can get all the help they want.
Arguments against fresh graduates who buy a franchise -
• They don’t have much life skills and lack any kind of experience of working in a team.
• They are hasty in choosing their franchisor and many times, end up selecting the wrong ones.
• Sometimes, they also get de-motivated and abandon the business altogether.
• They don’t have their own source of funding and have little chance of getting help from professional financial lenders.
• They are poor judge of character and therefore, often recruit wrong kind of people. As a result, even if they are serious, the business sometimes suffers considerably.
If you want to get further information on this topic, get in touch with the associates of brandEXPANSION.