As America’s 250th birthday approaches, it is fitting that one of our country’s greatest inventions is having a moment. Franchising, with roots in the nation’s founding and Benjamin Franklin’s printing press, is everywhere this summer. Pizza Hut has tapped into the desire for nostalgia with its retro dining rooms, complete with iconic red plastic cups and stained-glass lampshades. After two decades as a corporate-owned business, building on its Sex and the City fame, Magnolia Bakery brought its banana pudding to Salt Lake City via its first-ever franchisee. McDonald’s is bringing back fried apple pies for the first time in decades.Here are three reasons for the momentum.
THE COST OF GROWING UP: WHY GEN Z FEELS PRICED OUT OF THE AMERICAN DREAMAI-fueled era of disruption is renewing interest in the ownership economy
The rise of artificial intelligence and soaring costs of higher education are reshaping how the public approaches their professional careers. Suddenly, the traditional path — a four-year degree followed by decades at a corporate job — is no longer such a sure bet. As student debt hits new highs, roughly 7 in 10 college students see AI as a threat to their job prospects.Rather than taking loans to earn a degree for a job that may not always exist, more people are drawn to franchising. It is a gateway to the “ownership economy.” With a tested business model, a proven brand, operational playbooks, and ongoing support, franchising makes it easier for people to go into business for themselves, but not by themselves.Spanning more than 300 industries (including AI-resilient sectors such as hotels, home services, and pet care), franchising is becoming more appealing for younger audiences seeking a smarter investment in themselves. Nearly two-thirds (64%) of franchisees are first-time business owners, and 3 in 10 say they would not own a business without franchising.Franchising means local jobs and opportunity
