Graduates turning to franchises as job market remains tough
By: Laura Nineham
23 November 2010
A growing number of graduates, disenchanted with the restricted jobs market, are tapping into financial support and buying UK franchise opportunities.That's according to The Guardian, which features the case of Emma Luxton.
Miss Luxton graduated with a degree in drama from the University of Exeter in June this year and now she's running her own business.
The 22-year-old has taken up a franchise that allows her to deliver drama and play classes to children aged between two and seven-years-old.
Before she'd even graduated Miss Luxton spotted one of many UK franchise opportunities and gave a presentation to her parents and grandparents. Her parents funded the move, because they saw she was struggling to find a job.
"Being self-employed people we knew how hard it would be initially," explained her parents Judith and Richard.
Miss Luxton isn't the only young person realising the opportunities that franchises present. Katie Moffatt, the shareholder and director of the franchising company, explained that the number of applications from 18 and 19-year-olds has grown recently. "A couple were exploring other options to going to university, while others seemed to be struggling to find jobs that would get them anywhere near the career ladder," she explained.
This is a trend that the British Franchise Association has also noted. A spokesman said there is anecdotal evidence that parents and grandparents have been helping to finance such franchising opportunities. "From what we are seeing with tuition fees and lack of employment opportunities, this is very feasible," they explained.
"From our survey (the NatWest BFS Franchise Survey 2010) it shows that five per cent of all franchisees in the UK are under the age of 30, with nine per cent of those who have joined in the last two years being under 30."
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