---
title: "CNBC: Millennial Students Are Leaping Into Franchising"
url: https://burnaze.com/article/392a02df-44d3-404a-912a-1b25daca8a20
source: "1851 Franchise"
original_url: https://1851franchise.com/cnbc-millennial-students-are-leaping-into-franchising-2703711
category: "Franchisors"
industry: "Franchise Industry"
segment: "Franchisors"
topics: ["Emerging brands"]
published: 2017-08-16T17:12:04.000Z
modified: 2026-11-01T04:09:51.878Z
image: https://newimage.1851franchise.com/cdn-cgi/image/quality=85,format=webp,width=1280,height=720/story/featureImage/90d2d6acd4143e7cecebaa4cf4bcde292827.jpg
---

# CNBC: Millennial Students Are Leaping Into Franchising

**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.

*originally published in 1851 Franchise on 2017-08-16. [Read the original](https://1851franchise.com/cnbc-millennial-students-are-leaping-into-franchising-2703711).*

## Story

"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.

## Entities

- 1851 Franchise (publication)
- Franchise Industry (sector)
- franchise ownership (topic)
- Hand & Stone (company)
- Wing Zone (company)
- Orangetheory (company)
- young entrepreneurs (topic)
- millennials in franchising (topic)

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Originally reported by 1851 Franchise (https://1851franchise.com/cnbc-millennial-students-are-leaping-into-franchising-2703711). Summarized by Burnaze (https://burnaze.com/article/392a02df-44d3-404a-912a-1b25daca8a20).