Born between 1965 and 1980, Generation X is sometimes considered by some to be an "overlooked" generation in the face of Millennials and Baby Boomers. However, with many Gen X'ers now in their late 30's and 40's, many consider this demographic to be amongst some of the most capable and qualified when it comes to small business ownership. Check out the following four reasons why Generation X may have the potential for greatness when it comes to franchising!

While running your own business can be a difficult challenge, it can also be one of the most rewarding experiences that life has to offer! Not only does it take being able to understand market demands, but it also means having a viable small business plan (a process and product in place) that will support the business, as well as provide an income for the owner. While many potential business owners may have a great idea for a business, business growth and long-term success requires being able to be focused, disciplined and at times - an out-of-the-box thinker! Below are 4 keys that can help your business or franchise location build success.

As the Director of Franchising here at Shear Madness Haircuts for Kids, one of the first questions I usually get asked is, “How much money can I make?” My response is always muted because the FTC doesn't allow us to answer that question. However, for those of you reading this who are new to franchising, you can find the answer to that question in the Disclosure Documents in Item 19 that you receive from a prospective franchise. Also, some franchises may choose to disclose those numbers but have the right not to, so that really depends on the franchise you are looking at. But at the end of the day, my typical response is to answer a question with a question, which is, “How hard are you willing to work?”

New businesses are formed every day.  And businesses close their doors every day as well!  The chances of starting a blockbuster business on your own are small.  This is why the whole idea of buying a franchise business is a popular one!  Those businesses should have a track record of being successful, and should have systems in place that you can replicate. 

When starting a new business by yourself, sometimes it might seem like doing your own research and going at it alone is the most attractive option. But ultimately, this might not be a good idea. Not only could you possibly be doing the wrong research and making investments that might not be financially profitable over the long run, but you just might not have all the necessary information at your fingertips that can help ensure business success! Want to know more? Don't miss the rest of this very helpful article over at: In Business, One is the Loneliest Number! Also, be sure to check out some of our many other latest resources below, or by visiting our ever growing Shear Madness Franchise Blog!