All millennials are lazy, slacking, unreliable job-hoppers, right?

According to new information found in a study by Bentley University, how millennials actually view work may surprise you.

This information is particularly useful for franchisees and their managers, who frequently hire millennials to fill positions within their franchise. And with employee performance so important to a franchise’s bottom line, enabling your employees to perform to the best of their abilities – and taking the right steps to make it happen – is paramount.

In terms of shift work, 77% millennials prefer to work flexible hours – meaning that 9-to-5 isn’t their only preference.

However, 50% the millennials surveyed actually admitted that the biggest reason people their age were unprepared for their first job is due to poor work ethic.

To help combat this, 66% of millennials say you can boost their productivity by limiting their use of social media.

See the infographic here for more details:

To learn more about entrepreneurship through franchising, attend our free monthly webinar, Franchise Ownership as a More Stable Career Path. The webinar is free, but you need to pre-register, which you can do online by clicking on the linked seminar title.

You may also register by calling 866-246-2884.

Some people learn through textbooks, while others from life.

For U.S. Military veterans, their business education came on the battlefield – a place where success isn’t an option, it’s a matter of life, death, and freedom.

Through selfless, honorable service, vets also developed some of the strongest leadership qualities; skills that they can use when the time comes for them to transition back into civilian life and find a new career.

Confidence, dedication key to overcoming challenges

To succeed in the line of duty, veterans had to have an unflinching sense of confidence in not only their abilities, but the abilities of their comrades as well. In franchising, it’s crucial for franchise owners to be able to have the confidence to lead their business while also trusting in their staff to take care of their duties.

As part of this confidence and trust, veterans thrive as franchise owners because of their dedication. They devoted a large part of their life to serving their country, and didn’t back down in the face of great challenges and hardships. When problems arise in business, they’re able to overcome them with ease, knowing that they can survive minor setbacks and come out on top.

Vets able to draw on military experience to lead processes

Like any franchise, following the tried-and-true processes that make the franchise system successful is the key goal. However, some franchisees might want to stray from the formula and go their own way – oftentimes leading to failure.

Veterans, on the other hand, possess the leadership skills to operate their franchise according to the processes set out by the franchisor. They recognize that leadership in franchising isn’t about instability and egotism, it’s about recognizing that following the rules of what works is where they’ll find the most success.

It’s the same way in the military, where rules and processes were followed in achieving their missions.

And it takes a real leader to recognize this.

To learn more about entrepreneurship through franchising, attend our free monthly webinar, Franchise Ownership as a More Stable Career Path. The webinar is free, but you need to pre-register, which you can do online by clicking on the linked seminar title.

You may also register by calling 866-246-2884.

Are you attracted to the idea of opening a franchise? It makes sense—you get a recognized brand, a proven operating system and built-in sales and marketing training and support, usually for less than it would cost to launch a similar business from scratch. Franchise Times reported on some intriguing franchising trends for 2013 and heading into the coming year, including healthcare, celebrity endorsements and consolidation.

Healthcare Franchises

The Affordable Care Act has sparked some surprising business franchising opportunities, such as the new economy hearing aid franchise Zounds, and new nutrition and fitness franchise concept Red Light, Green Light, Eat Right. Other hot medical franchise opportunities include chiropractic, lab testing, weight control, mobile dental equipment repair, fitness centers, learning assistance, home care and hospice and senior nursing care. Expect to see even more varied franchise concepts as naturopathy, lasik eye treatment and home health care, due to the expected addition of millions more Americans with health insurance and a shortage of primary care doctors.

Celebrity Endorsements

Celebrity endorsements are gaining traction in franchising. Stars bring in customers and big business. The latest celebrity endorsements for franchises include Peyton Manning for Papa John’s, singer/rapper Pitbull for Miami Subs, Shaquille O’Neal and Auntie Anne’s and Magic Johnson and Starbucks. Celebrity endorsement isn’t a new marketing concept and while it does come with some pitfalls, partnering with someone who already has a huge fan following can be a shortcut to success.

Consolidation

Franchise Times reports that franchises sold in record numbers in 2012, in addition to many mergers and acquisitions in the franchise world. The trend continued in 2013, with franchisees getting bigger because smaller units are selling to big operators due to increasing food costs, anticipated rise in healthcare costs in 2014, costly remodeling campaigns and retiring operators. Costly rebranding and remodeling campaigns are big incentives for smaller operators to sell. Burger King and Wendy’s have major remodeling and rebranding initiatives, and Applebee’s is rebranding.

How to Get Started

The Entrepreneur Authority recommends you first figure out what your priorities and expectations are. Consider such factors as what industry you want to work in, if you want a large brand or a new niche, and how much you are willing and able to invest.

As with any business and financial dealings, conduct your due diligence as far as raising the necessary capital. The Small Business Administration (SBA) has many resources for those who want to buy franchises, including tutorials and franchise research resources. The SBA also has information about securing a business loan to fund your franchise purchase. In addition to business loans, interested entrepreneurs may be able to fund their venture by selling annuities for a lump sum payment up front.

Finally, read and understand the detailed disclosure document required by the Federal Trade Commission’s Franchise and Business Opportunity Rule.

A recent survey by the Ewing Marion Kauffman Foundation finds that exposing individuals to entrepreneurs may encourage them to start their own ventures.

The Kauffman study surveyed 2,000 Americans, asking them if they knew entrepreneurs – both in general and specifically “growth” entrepreneurs whose ventures add more employment and wealth to the economy – and if they themselves were entrepreneurs.  The data was then analyzed by age, gender, geographic region and income level.

Overall, 36.7% of respondents reported knowing an entrepreneur, but only 15.4% knew a growth entrepreneur. These differences were more dramatic when evaluated by gender: 24.8% of men claimed to know a growth entrepreneur, compared with 12.1% of women.

The results indicate a significant association between knowing an entrepreneur and being one: 37.8% of respondents who knew a growth entrepreneur were entrepreneurs themselves, as were 35.5% of respondents who knew entrepreneurs overall.

So what does an entrepreneur look like?  The Kauffman Foundation developed the infographic below on the Anatomy of an Entrepreneur:

To learn more about entrepreneurship through franchising, attend our free monthly webinar, Franchise Ownership as a More Stable Career Path.  The webinar is free, but you need to pre-register, which you can do online by clicking on the linked seminar title.

You may also register by calling 866-246-2884.

Yesterday, Diana Nyad completed the 110-mile swim from Cuba to Key West, her 5th attempt at completing the feat.  At age 64, Nyad fulfilled her lifetime dream of being the first person to swim from Cuba to Florida without a shark cage.  She first set her goal to make the swim in 1978, accomplishing it 35 years later.

Nyad said this time she found a mantra that helped her make the grueling journey in just short of 53 hours:  Find a way.  When she reached the beaches of Key West, she told the crowd assembled to watch her come ashore that she had three things to tell them:

1.  Never ever give up.

2.  You’re never too old to chase your dream.

3.  It may look like a solitary sport, but it’s a team.

Nyad’s dogged perseverance in the face of four failures is a lesson to all would-be entrepreneurs that sometimes it takes failure to succeed, that age is no barrier to success and that getting help along the way can help you achieve your dreams. 

To get the help you need to realize your entrepreneurial dreams, attend our free monthly webinar, Franchise Ownership as a More Stable Career Path.  The webinar is free, but you need to pre-register, which you can do online by clicking on the linked seminar title.

You may also register by calling 866-246-2884.