Managing The Multi-Generational Franchisee - The Impact of Age on Franchisee Success and Satisfaction
Date
2020-10-09
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Institute for Global Business Research
Abstract
This quantitative study explores the influence of age on successful franchise business ownership. Franchising is a popular alternative to entrepreneurship. However, prior studies suggest one of the greatest challenges for a franchise organization is finding and retaining a proper match for the franchisor’s system. Studies on entrepreneurs not constrained to franchisees have found mixed evidence on the impact of age on successful entrepreneurship. The United States presently has several distinct and very different generations of entrepreneurs. These cohorts include Baby Boomers, Generation X, Millennials, Traditionalist, and Generation Z. Previous studies have shown that the rate of self-employment for younger individuals is lower than older individuals and businesses created by persons less than 35 years old don’t perform as well as businesses created by entrepreneurs between the ages of 45 to 54 years old. Previous research also indicates under capitalization is typically the biggest problem that an entrepreneur can face when it comes to growing a business. This study wanted to learn if older franchise business owners are significantly more satisfied with operating and owning a franchised business compared to younger franchise business owners. Findings in this quantitative study reported here indicate that of the several franchise categories researched, more older individuals pursue a franchise compared to younger entrepreneurs. Additional findings reported that in contrast to some research findings on non-franchisee entrepreneurs, age was not correlated to satisfaction.
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Keywords
Multi-generational Franchisee, Entrepreneur, Older entrepreneurs, Younger entrepreneurs, Franchise
Citation
McDermott, M., Butler, D. (2020). Managing the Multi-Generational Franchisee – The Impact of Age on Franchisee Success and Satisfaction. Proceedings of the Institute for Global Business Research. Las Vegas, NV.