According to a recent New York Times article, a growing number of parent-child partners are buying into a franchise together. The trend of parents buying franchises is thought to be in response to the poor job prospects encountered by young people, including college graduates. Referred to as multi-generational franchises by the franchise industry, “they are becoming increasingly common for job-seeking parents and children who have an entrepreneurial urge but not the experience or confidence to start a business alone.” The article’s author, Ian Mount, says that laid off parents and their unemployed children are often attracted to franchising because they offers easy-to-follow systems.
More Parents Buying Franchises with Adult Children
