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January 10, 2017Millennials are facing increasing uncertainty in the job market. From 2005 to 2015, 94% of the 10 million net new jobs in the US were either temporary or contract positions, with the share of Americans doing "alternative work" has risen from 10.7% to 15.8%. The lion's share of millennials are relegated to uncertain employment, when they can find a job at all. The millennial unemployment rate stands at 12.8%, well above the national average of 4.9%.
However, for some savvy entrepreneurs, franchising offer a unique opportunity to use their talents to create successful careers and make a marked difference in the communities in which they live.
Only 28% of millennials feel that the companies that they work for are utilizing their talents and millennials do have a lot to offer.
Just take Tutor Doctor's own Ashley Mulcahy as an example. This scrappy 25-year-old is the owner of a Tutor Doctor Franchise in Orange County; a profitable tutoring business. In fact, she is one of the Tutor Doctor Franchise’s star performers. "The older generations have their own bias on how business should work and how things will play out," she says. "And then here's me, zero experience, fresh out of college, no background at all in business... I think 'I'll just try it see if it will work. And if it doesn't, I'll go back to the drawing board. If it does then, great.'"
The flexibility of the younger generation make them perfect for the kind of tutoring business that you can run from home. They don’t need a firm schedule or office hours, but can adapt to the need of their growing education franchises. Millennial entrepreneurs understand that while traditional jobs may seem to offer security at first, the work/life balance that a tutoring franchise offers is unbeatable.
Add to that the rise in accessible technology. Emails, social media and websites offer an inexpensive way to reach a wider audience. With students and parents relying more on technology for learning and finding suitable tutoring businesses, embracing technology will keep young entrepreneurs on the leading edge. Millennials have an advantage here because they know how to navigate their social properties and the apps that can make their education franchise more effective.
Tutor Doctor offers additional assistance to millennials through their YES program. Here, young entrepreneurs are offered a unique opportunity to start their own franchise with very little capital.
To find out more about how you can join the Tutor Doctor family, download the report today.