While Gen X has represented close to half of total prospective franchise buyers over the past several years, recent data reveals that Baby Boomers (ages 55-73) represent the fastest growing age cohort of franchise prospects in 2020. Boomers' share of prospects jumped 11% Q2 v Q1, now representing 27%+ for the biggest share since 2Q19.
This is good news for the frandev community as Boomers lead other age cohorts in investment wherewithal. With many of these highly attractive candidates now relocating and settling where they want to live perhaps instead where they've had to live for their jobs, it's a great time to target this demographic for franchise development. And, there are so many great franchise opportunities available for them to exlpore.
Check out more detail and see how Gen X compares, along with many other Franchise Insights!