Can I Buy Into a Franchise with Little Experience and Capital?
In terms of experience, it is relatively easy to build. Seek every opportunity you can to gain experience in the workplace. Since you're focused on franchising, start by getting part-time jobs while still in school at various franchise operations.
It may seem obvious to focus on fast food because those jobs are highly visible and readily available, I'd recommend against it. You're not going to become the owner of a fast food franchise anytime soon, so working at one isn't going to be the type of direct experience you can use toward your goal. Concentrate on the types of franchises (low investment, high return) that you have at least some chance of owning in the next few years.
Also, either initially or fairly soon after going to work, try to get a position that directly works with and/or supports the owner of the business. It's not as important that you know how to clean a toilet or make toast as it is that you understand how to hire and manage employees, schedule jobs, recruit customers and other similar tasks. This is what the owner does and working directly with him or her is going to expose you to that type of work.
Also, offer to work for minimum wage and make plain your desire to learn. Owners might be intrigued by the opportunity to become a mentor to someone with great desire to become a business owner. After earning their respect and trust, they might even help you overcome your lack of capital and get you started in a business of your own.
Related: Which Is Better: A Job or a Franchise?
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Jeff Elgin has almost 20 years of experience franchising, both as a franchisee and a senior franchise company executive. He's currently the CEO of FranChoice Inc., a company that provides free consulting to consumers looking for a franchise that best meets their needs.