Owning a Franchise with your 'Millennipreneur'

Parents and College Grads Team up to Pursue? Multi-Generational Family Businesses.?

You've worked hard to raise your children. You've taught them the differences between right and wrong, and have given them wings to fly. You were optimistic about their future...and, their career.??

So why has your recently graduated Millennial moved back home??? And, what to do now???

It may be consoling to know, you're not alone! A recent Pew Research study shows: "A majority of young adults in the U.S. live with their parents for the first time since the Great Depression."

Read more: https://www.pewresearch.org/short-reads/2020/09/04/a-majority-of-yttps://www.pewresearch.org/short-reads/2020/09/04/a-majority-of-young-adults-in-the-u-s-live-with-their-parents-for-the-first-time-since-the-great-depression/

Job prospects for millennials look uncertain.

After decades of being told "a college degree would lead to a good?job -- and, successful career" -- millennials are finding themselves without a clear pathway for the first time and are being forced to consider alternative opportunities that may help fulfill their dreams.?

Read more: https://www.pewresearch.org/short-reads/2020/09/04/a-majority-of-young-adults-in-the-u-s-live-with-their-parents-for-the-first-time-since-the-great-depression/

Sadly this age group is not alone. Many baby boomers are in a career transition and struggling to get work.

Boomers - Stuck in the Middle. Too young to Retire... Too Old to get a job!

Multi-generational Family Businesses?

The growing epidemic of unemployed college grads, ?paired with the bleak job market for Baby Boomers, are just some of the factors that are driving these two unlikely demographic cohorts to consider entering into business together. Many boomer parents and their millennial children are joining forces in increasing numbers and are often turning to franchise opportunities -- creating a wide spectrum of new multi-generational owners in franchising today.?

Why Franchising?

Read more: https://conta.cc/2ywPY36

Finding the Franchise Concept that's a?Perfect Fit!

Finding the right franchise concept that allows everyone to leverage their skill set is imperative when identifying an opportunity for a multi-generational partnership. Even if the parent isn't fully embedded in the business - leaving their children to run the operations - they should still have an interest in the concept and be able to utilize their experience or skills to provide support. When everyone is active in the business and enjoys their role, the formula works. We often find the parents?gravitating toward jobs requiring local connections and long-term planning.? While children take care of day-to-day operations and online marketing.? ?

If you are a parent looking to team up with your child or vice versa and want more information about this venture, Fran-LINK is an expert in this field and offers no-cost franchise advice to parent-children teams looking to explore this exciting combination.?Multi-generational franchise businesses offer a?real?solution to a serious problem. And,? puts a new spin on what the old family business can be.??

Reach out to me for a conversation and begin exploring how we can help you and your family explore franchise ownership. We might just find a solution to reclaim your empty nest and start a new chapter while helping your Millennial craft their future.

Best wishes for good health & continued success,

Alan Goldberg/Founder-Chief Connecting Officer Fran-LINK Franchise Advisory & Consulting Group (p) 646.505.8262 | (e) [email protected]