Franchise Update Magazine Issue I, 2015 | Page 46

CONSUMER MARKETING Millennials In Search of Millennials Tailor your opportunity to their values BY DAN SANTY A s a franchise organization, there is no doubt your marketing department is focused on the Millennial audience as a potential customer base. You’ve read scores of articles describing the size of this generation, as well as their potential spending power in the coming years. They have outgrown the Baby Boomers in numbers, and they will outspend them as well. But Millennials are also an emerging target for your franchise sales efforts. A recent independent research study uncovered insights that illuminate how attractive this group is as potential franchisees. For instance, the Great Recession stunted the opportunities and financial growth of Millennials in traditional career tracks. With companies downsizing and closing doors, hiring and upward mobility slowed or ceased. Their expensive college degrees did