Breaking business barriers

With 30% of UK adults considering launching their own business in 2023¹, the appeal to become your own boss has never been greater. Of these aspiring adults, 48% were between the ages of 18 and 24, equating to more than two million budding entrepreneurs². But it is not just young people who are looking to start their own establishment – 60% of those aged between 45 and 54 years old claimed they would launch their own business alongside existing caring responsibilities³.

Despite such high innovation levels in the UK, 43% of aspiring entrepreneurs across all ages do not believe they will set up their businesses⁴, signifying that the fear of failure is still high amongst budding businesspeople – this is where franchising can provide the perfect solution.

“With the limited business failure risk, people of all ages are achieving their entrepreneurial dreams through franchising,” says Victoria Jennings, founder of the UK’s fastest-growing franchise, Bloom Baby Classes. “Investing in a franchise is not only more affordable in the long run, but it offers you unique opportunities which aren’t dependent on your experience level.”

Below, Victoria shares how you can build your own business empire through franchising – and why age really is just a number.

Be ambitious

As a franchisee, the ability to recognise – and seize – opportunities within your business is an important quality to have. As a young franchisee, make sure you do your homework – research and understand your local demographic and be savvy with your business plans to help your business excel and achieve long-term success. In our network, Sophie Nixon, aged 29, took the opportunity to launch the first Bloom Toddler Classes despite only being with us for two years.

There are no age limits in franchising – starting a franchise when you are older means you bring a wealth of experience. It is important to be open to learning new concepts or ways of working with a focus on introducing fresh concepts to your approach to make your franchise stand out from the rest.

Be empowered

It sounds simple, but a major factor that deters people from launching their own business is feeling underqualified. This affects women more than men, with 48% of women who want to set up a business believing they will not, due to their perceived lack of relevant skills⁵ – which is a concern young people can also be all too familiar with. Unlike launching a business on your own, investing in a franchise gives you the opportunity to utilise any skills you may have from previous lines of work. 

Everyone has transferrable skills, no matter how much experience you may have, just like Georgia Hellend who, despite just turning 26, was able to use her social skills and ability to adapt that she developed as a cabin crew member to help her in her new franchise venture. 

Be proactive

Although franchising offers you a certain level of security, it is crucial to recognise there will still be challenges along the way. For instance, you may need to invest a little more at first to gain momentum as a business, or you may need to be proactive when things are not going the way you planned. Shaking up your business structure to suit you or your business’ needs can seem daunting, but it is worth it for the long-term success of your franchise.

In our network, a mother and daughter duo had to adapt when they realised how physical being a teacher for Bloom is, reworking their franchise model so they were both comfortable in their roles. 

Having a range of different age people in a team can bring a variety of perspectives, skills, and expertise that can lead to more innovative and effective solutions, increased collaboration, enhanced learning and development opportunities, and improved communication. Your franchisor will encourage and support you– helping you to make your business the best it can be.

_{¹ Enterprise Nation, 2023, An enterprising nation! A third of UK adults are thinking about starting a business in 2023.}

_{² Enterprise Nation, 2023.}

_{³ Enterprise Nation, 2023.}

_{⁴ SME Loans, 2020, 64% of Britain’s Workforce Wants To Set Up Their Own Business.}

_{⁵ SME Loans, 2020.}