When we were twenty, we faced a life-altering decision: should we get a job at The Gap or build a franchising empire? Ok, that’s not exactly what happened. But, increasingly, buying a franchise business is a real opportunity for twentysomethings. Franchisers are pulling out the stops to attract young recruits, including deep discounts on franchise fees, according to the Wall Street Journal. That’s wasn’t always the case. In the past, franchisers much preferred seasoned managers over freshly-minted college grads. But times have changed (if you hadn’t noticed). Franchisers are looking for creative ways to keep their outfits afloat during the Great Recession, and reaching out to the post-puberty set is clearly an option. Franchisers also insist that twentysomethings today are well-prepared to run a business because, in-between binge drinking and watching re-runs of The Hills, they actually took some valuable courses in entrepreneurship.
The $64,000 question. How much can franchisees really make? Actually, it’s the $60,000 question, given that industry expert Robert Bond revealed in a recent interview that “an average franchisee will probably make $60,000 a year by working probably 60, 70, or 80 hours a week at the outset.” Doesn’t sound so great, does it? Especially since prospective franchisees typically think they’re going to make $150,000, according to Bond. Wait, it gets even worse. “In today’s world a franchisee that was making $100,000 last year would be making $40,000 today,” he says. No wonder there’s a common practice among franchises of never telling buyers what they could make. But even a drunken college student with a minor in entrepreneurship could do the math on this one.
Truth in advertising. Hello, I’m Troy McClure! You might remember me from such celebrity funerals as “Andre The Giant, We Hardly Knew Ye” and “Shemp Howard: Today We Mourn A Stooge.” Today I’m here to tell you about “Spiffy,” the 21st century stain remover… Ya gotta love Troy McClure and everything he represented: C-list celebrities mindlessly plugging useless products to make a quick buck. Which brings us to this fascinating news item. During a live webcast later this month, NASCAR driver Tony Stewart will be hooked up to a polygraph and asked: Does Tony really love Burger King’s Whopper sandwich? The answer: for what they’re paying him, you bet your booties he does.