Young and Motivated!

By Pamela Gold

The typical entrepreneur is mature, business-savvy, and ready to take control of his or her life and future. This statement is often true, but when most people conjure up images of successful entrepreneurs, they generally picture middle-aged, experienced businessman. It's time to change that image. Today, the young and the motivated  are starting their own businesses, buying franchises, and enjoying the freedom and success that comes with being their own boss.

A Dream Was Born in a Fraternity House Kitchen

In 1991, on the campus of the University of Florida, Matt Friedman and Adam Scott realized there were no alternatives to pizza delivery when the late night munchies came calling. With a campus of over 40,000 students, the school was a perfect testing ground for Friedman and Scott's new business idea: Wing Zone was born in Friedman and Scott's fraternity house kitchen where large fryers and coolers were all free to use. Instantly successful, Wing Zone sold out of wings on their first two evenings in business.

"I was always involved in athletics and competitive by nature. For me, I think I have an internal drive to succeed which really helped when it came to the business," stated Friedman, Co-Founder and President of Wing Zone.

Clearly age was not an obstacle or an intimidation for Friedman and Scott. Was being young a help or a hindrance for these young entrepreneurs? Friedman commented, "Being young when we first started the business was really helpful for me. At the time, I was 21 and still in school. My life was all about work and school. I didn't have family responsibilities to think about and I devoted everything to school and to work. When it came to starting a business, the only thing that hindered us a little was the fact that businessmen and banks sometimes judged us because of our age. You have to have the attitude that it doesn't matter and just move on until you find someone that respects you for your business plan and looks beyond age."

Support is necessary when starting any business, but for a young entrepreneur who may not have established himself financially, support is integral. "My family has always supported me. In fact, my parents gave us our first loan for $5,000 to get the business started. I think the fact that I continued with my education and graduated from college while working on the business made a big difference to them. Today, they are extremely proud of me and still very supportive of me and the business."

Wing Zone is now a highly successful business model. Named America's Fastest Growing Franchise by Inc. Magazine,Wing Zone has received many awards including "Hottest Flavor" award at Wing Fest. Today there are Wing Zone franchises in fifteen states across the country. Getting to this point wasn't easy, but with some mistakes came the knowledge to succeed as Friedman explained, "We learned quickly that we didn't know a lot about business and franchising. It became a matter of trial and error for us and it took us two or three years to get a grasp of how the business works. During those first years, we gained lots of revenue but gained little profit. We figured it out and today our franchisees can enjoy the benefit of the many mistakes we originally made. Any successful company makes mistakes and when it comes to franchises, the franchisees really receive the benefits of those mistakes."

Looking For a Better Life

Jason Sorrells was a typical 27-year old. He was working in the sales/underwriting department of a company. He didn't enjoy his job and he wanted to control his own destiny. He wanted to be his own boss. With limited business experience but lots of determination, Jason decided it was time to open his own business. With his father's financial assistance, he bought his first Maui Wowi kiosk in July of 2002.

"My goal is to have 10 carts at fixed locations and at events. I'd like to eventually manage the managers, while moving into other ventures," explained Sorrells.

For Jason, the support he needed came from family and from Maui Wowi's home office, "They gave me all the training and support I needed. Whenever I asked for assistance, they would give it to me. I was never left needing anything," commented Sorrells.

Would Jason choose to buy a business at such a young age again if given the choice? He said, "If I could choose to do this over again, the only change I would have made is that I would have bought a Maui Wowi franchise sooner. I wish I had bought a business right after college instead of waiting until I was 27! Maui Wowi is a great company and I love being my own boss."

Help, Encouragement, and Support for Young Entrepreneurs

Young entrepreneurs are supported and encouraged in their journey to become a business owner. The International Franchise Association's (IFA) Educational Foundation has launched a campaign to encourage young people to become involved with franchising. The organization has published a free online guide titled "An Introduction to Franchising". This guide covers everything from selecting a franchise and evaluating a concept to writing a business plan. The guide is geared towards high school and college students.

"We actually prefer that our franchisees are young. With little franchise or business experience, they don't have ideas in their head about how the business should be run. From the start, we can teach them our system and methods and they are more moldable. Also, in our business, our customers and employees tend to be young and our younger franchisees can relate well to their customer and employee base," explained Matt Friedman.

For more resources and support, there are many organizations with helpful websites. Check out the Young Entrepreneurs Organization at http://www.yeo.org. This educational organization is for business owners under age 40 and strives to build upon their members' successes through an array of learning and networking opportunities. Also, visit http://www.youngandsuccessful.com for lots of great articles, advice, and support for young entrepreneurs.

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Whether you're 20, 40, or 60, you can own a business. With hard work and lots of determination, the future can be in your control. To find your perfect franchise or business opportunity, check out http://www.FranchiseSolutions.com today!