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Franchising IS Possible for Recent College Grads

By: Bill Bradley

 

A portrait of a mixed race college student at campus
Entrepreneurship doesn’t have to be a far-off dream; you can start the journey sooner than you might think. Maybe you have always wanted to start your own business. Or maybe the COVID-19 pandemic and resulting economic situation threw your young career off its trajectory.

Low-Cost Franchises

Low-cost franchises are a great way for recent college grads to jumpstart their entrepreneurial journeys. Categorized as any franchise with an initial investment of $100,000 or less, low-cost franchises opportunities are available in many different industries. As a recent college grad, we encourage you to start exploring low-cost franchises now to give yourself the opportunity to save the money it takes to open up a franchise.

If you already have the financial means to start a business, now is the time to discover which franchise is right for you and will utilize your unique skillset and specific interests. If you are interested in the travel industry, the pet industry, the real estate industry or any other industry, check out the low-cost franchises America’s Best Franchises has to offer.

Financing Options

Not every aspiring entrepreneur has a spare $100,000 to turn into a business—even if they aren’t recent college graduates. That’s why there are many different financing options for you to explore throughout the franchising process. Many franchise brands have third-party financing partnerships for you take advantage of, you might qualify for a loan through the Small Business Administration or you can invest in your franchise as part of an entrepreneurial team. Asking a few questions and exploring a few avenues will clue you in to all of your franchise financing options.

Part-Time Franchise Opportunities

Maybe you aren’t quite ready to put all of your eggs in one basket; with franchising, you don’t necessarily have to. If you choose a part-time franchise opportunity, you can continue building a career in the industry you got a degree in while owning and operating your own business. Be sure to tell franchise development representatives that you are looking for franchise opportunities with flexibility. Travel agent franchises, education franchises and property management franchises all give you the opportunity to work from home on a part-time basis while you chase your other dreams.

Little-to-No Industry Experience Required

Even if you haven’t spent decades building a career, franchising is attainable for recent college grads because some franchises don’t require franchisees to have industry-specific experience. That means even if you majored in accounting, you still might have the qualifications to own a handyman franchise, a food truck franchise or any other franchise that is a good fit for you and your market. During your franchise evaluation process, you will discuss the traits you have that have prepared you for business ownership—which might not include a lot of experience.

Are you ready to find out just how possible it is to start your own franchise?

Published: February 9, 2021
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Source: Reprinted with permission of America's Best Franchises

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Bill Bradley

Bill Bradley is founding member and CEO of America’s Best Franchises, LLC.  Bill founded three financial services firms, Ocean Shores Ventures, Denali International and William Bradley Enterprises. In addition, to launching America’s Best Franchises in 2005, Bill orchestrated approximately 20 private equity transactions in excess of $31 million, and launched five specific purpose private equity partnerships.

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