The food franchising world isn’t just for seasoned entrepreneurs; it’s a playing field that’s attracting younger players too, especially those between 18 and 24 years old. If you belong to this dynamic age group, this blog is for you. We’ll explore why your age group is particularly well-positioned to break into the food franchising market.
The Young Enthusiasts: By the Numbers
Before we explore strategies for success, let’s understand the landscape:
Page Views: The 18-24 age bracket boasts 43.17% of the total page views in our Food category, the most of any age range.
Average Time on Page: Just under a minute.
Market Implication: High interest but likely in the early stages of research.
What This Means For You: With many in this age group still exploring, a committed approach can help you stand out.
Why Age Matters
Being young in the food franchising sector has its advantages:
Your age group leads in total page views, indicating a strong appetite for exploring food franchising opportunities.
Room for Innovation
Youth often comes with fresh perspectives and a willingness to take risks, traits that can be beneficial in a dynamic market.
Fast Casual and Quick-Service: The Gen Z Preference
Those aged 18 to 24 show a strong preference for fast casual and quick-service restaurants over other dining options.
“Older Gen Z consumers (18 to 24 years old) are more likely to choose fast casual, quick-service restaurants compared to older consumer groups, according to recent data from market research firm The NPD Group. Of the 5 billion restaurant visits by Gen Z consumers from July 2021 to July 2022, researchers found the vast majority of visits were to quick-service restaurants, roughly 4.3 billion.”
What This Means for You
This data underlines the opportunity for young entrepreneurs to invest in quick-service franchises. Not only are you part of the demographic that frequents these establishments, but you’re also more likely to understand the tastes and preferences that drive this enormous number of restaurant visits. This innate understanding of the market can be a major advantage as you explore franchising opportunities.
Strategies for Success
Do Your Homework
Given that many in your age group are still in the early stages of research, taking a more thorough approach can set you apart.
Focus on Digital Marketing
Your age group is digitally savvy. Leveraging social media and online platforms can help you reach your peers more effectively.
Secure Financing Early
Many in this age group may not have extensive financial resources. Exploring financing options early can give you a head start.
With its trendy coffee selections and a brand that resonates with younger audiences, PJ’s Coffee of New Orleans could be an appealing franchise opportunity for the 18-24 age group.
The 18-24 age group represents a burgeoning market with a strong interest in food franchising. While many are still in the exploratory phase, this creates an opportunity for those willing to commit to thorough research and planning. If you’re a young enthusiast looking to make your mark, the food franchising world is ripe for the taking.