Two franchising experts recently debated the issue of whether new college graduates should consider franchising as a pathway to entrepreneurship.
Jeff Elgin said recent college graduates are not ready to be franchise owners. “First, most recent college graduates don’t have the financial resources to fund a franchise start-up. Second, many lack the life experience and the motivation to run a business effectively and stick with it when times get tough.” Jennifer Kushell said franchising is the perfect career choice for many recent college graduates, for several reasons: (1) the support system that franchising provides is ideal for young entrepreneurs, (2) young people have grown up with franchising and understand it well, (3) many college graduates already have launched businesses of their own, and (4) they think big.
Which view do you think is correct? Explain.
As young entrepreneurs, what current trends you feel in franchising? If you were given the chance to buy a franchise, which particular industry and product you want to invest? Why?