TL;DR
Millennials are increasingly turning to franchising as an alternative route to entrepreneurship, with 9 percent of all franchises owned by millennials currently. Dylan Patel, a 21-year-old business and finance major, owns three Orangetheory locations and has invested in an additional franchise, Hand & Stone Massage & Facial Spa.
"The franchise business model is a proven system that's been transforming and scaling young concepts for years, but millennials are just now realizing that it's not solely reserved for big, established brands," said David McKinnon, chairman of the NextGen in Franchising Committee.
As Dylan Patel started his freshman year at the University of Virginia, he was opening the doors to his own franchise. Now, as a 21-year-old business and finance major, he owns three Orangetheory locations and has invested in an additional franchise, Hand & Stone Massage & Facial Spa.
Andrea and Jessica Perez, two San-Antonio based sisters are the franchisees of their local Wing Zone, an Atlanta-based restaurant. Hoping to bring their family together by owning a restaurant, the sisters convinced their father to provide a large investment after developing their own business plan.
In this story
This story was originally published in 1851 Franchise on August 16, 2017. Burnaze summarizes and links to the original reporting.
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