Franchise Opportunities for Young People Waterville ME

As the school year draws to a close, it is anticipated that more than 2 million bachelor’s and associates degrees will be conferred to graduating college students, according to the National Center for Education Statistics. Before venturing into the “real world” as (gasp!) adults, new alumni traditionally find themselves entertaining two post-college options: continuing their education or finding a job. A handful of graduates, however, might entertain another option: owning their own business.

But most entrepreneurial-minded young people typically encounter two road blocks in pursuit of this goal. First, they probably don’t have the experience or know-how required to run a successful start-up business on their first try.

The second common road block for young entrepreneurs is having adequate financial resources to open a franchise, as the initial investment can easily require hundreds of thousands of dollars.

To maximize their chances for a strong start, aspiring entrepreneurs might consider opening a franchise. Diligent research can turn up franchises with franchise fees starting as low as $20,000, and potential for high returns.

“A great franchisor has gone out and developed all of the tools that you need to start a business,” Lori Kiser-Block, president of FranChoice, said. “They’ve developed the marketing system, the training and operation system, the brand, [and] the marketing tools you need in order to sell that business. They’ve made all of the mistakes for you.”

A little advice can go a long way. NuWire has picked five types of franchises that might best meet the personal and financial qualifications for young people—but we’ll leave the task of pitching business plans to their parents and other family members or friends up to them.

Pet care franchises tend to be low-cost, low-risk and easy to learn 1. Pet care

While the story of late Leona Helmsley and her multi-millionaire dog is not the norm, today’s pet owners are taking extremely good care of their furry friends. Pet care makes up a $42 billion industry, “the seventh-fastest growing industry in America,” according to Paul Mann, CEO and founder of Fetch! Pet Care.

“There’s a huge business opportunity because...baby boomers and the dual-income household folks are consistently spending more and more on their pets...even in downward recession periods like this,” he said.

In addition to the potential for growth, pet care franchises tend to be low-cost and low-risk. The franchise fee for Fetch! Pet Care is set at $10,000, and a franchisee will typically need an additional $7,000 to $10,000 to cover operating costs for the first year, according to Mann. Furthermore, Fetch! Pet Care, like many other franchises in the pet industry, is a home-based operation. It's a turnkey business where a franchisee is hiring staff to go out and take care of people's pets, n...

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