“The way to get started is to quit talking and start doing,” once stated by Walt Disney has now become the buzzword of this generation. A start-up or a franchisee, both empowers an able enterprise. In the 70s and the 80s, employed in a conglomerate meant you are an achiever. The company you work for is how your social status was decided. Things are very different now. Family-run monopolies are no more the definition of a business. With a boom in the start-up world, there is no telling what new markets are left to explore.
In the book by Netflix founder Marc Randolph ‘This will never work”, he talks about the start-up culture of today. How a child driving from college till Silicon Valley sets up a company on the way. Use a template to build a website, buy some Google ad worlds for sales, and set up social media pages for marketing. The rise in technology has made companies and nurturing franchisees a business worth investing in.
The world today has over 300 million start-ups and over 470 million founders. Entrepreneurship is not an ecosystem that is going to stall. The reasons for this boom in the business are many. Some of them have been identified below:
Since everyone wants to be the boss of their own time, there is no better source than a start-up or a franchisee business. Rather than working as a manager in a coffee show, it takes the same amount of ease to acquire a new coffee shop franchisee and run it yourself. This culture has enabled more youth to start a business that can further grow the economy.
Back in the days, if you had a plan, you needed to find a big-enterprise to back it. Today with venture capital funds, incubators, angel investors, and multiple sources of seed revenue, one does not need to sell the idea. They can build it themselves.
Between 1994 and 2000, the world experiences the “Dot com bubble.” This bubble was a time when the internet was new, and all business owners wanted a piece of the cake. In the year 2000, this bubble burst, leaving many companies left out to dry. Triggered by inadequate cash flow, low sales, and lousy support. Today the world is in a Start-up-Bubble, where entrepreneurship seems like the next best thing. And until the bubble pops, this industry will continue to grow.
Be it the franchisee market or the start-up business, the past was cynical, the present is optimistic, and the future is uncertain.