Millennials are quickly becoming the driving force behind the latest surge in entrepreneurial ventures across the United States. In 2023 alone, a staggering 5,481,437 new businesses were launched, showing just how many Americans are taking the leap into entrepreneurship. Many are millennials who are known for their entrepreneurial spirit.
This generation brings innovative ideas and fresh perspectives but faces challenges like limited business experience. Franchising is an excellent opportunity to overcome these concerns by offering a structured path to business ownership. If you want to start your own business, find out why a franchise might be the best option where you can flourish.
Why Home Service Industries Are Ideal for Millennial Entrepreneurs
As you explore the best franchises for millennials, investigate how these opportunities align with your aspirations and lifestyle goals. The home service industry might be the game-changer you’re looking for, providing stability and flexibility.
No Industry Expertise Needed
Stepping into the world of franchising can be a transformative move, especially if you don’t have any prior business experience when you start. With a franchise, you get to leverage an established brand’s system and the support that comes with it. That can make a huge difference in setting you up for success.
With franchising, you’re not just buying into a business—you’re stepping into a structured support system that offers training and ongoing guidance. This framework helps accelerate your learning curve and increase your chances of success in the competitive market.
Tapping into Boomer Retirements
Baby boomers currently own 51% of American businesses, but as they retire, we see a significant shift in the locally owned business environment. This transition presents a remarkable opportunity to step in and fill the void with new business ventures. It also creates a growing market of consumers for ventures that cater to services the retirees need around the home.
There’s an increasing demand for fresh, innovative minds ready to adapt and meet evolving consumer needs. It isn’t about taking over an existing business; it is all about bringing new energy and perspectives to sectors ripe for change. If you take advantage of this shift, you help shape the industry's future while building a resilient and forward-thinking business.
High Demand and Predicted Stability
If you’re a millennial thinking about starting a business, you should also consider the stability and high demand that comes with home service franchises. Many of these businesses provide essential services, even amid economic fluctuations. You can offer cleaning, pest control, or home inspection services.
These are services that everyone needs, making them integral to daily life. This sector allows you to tap into a key group of customers looking for dependable and professional solutions to maintain their homes. When you launch a franchise in this field, you’re stepping into a role that presents a reliable opportunity for engagement and growth.
Flexibility and Work-Life Balance
If achieving work-life balance is high on your list, starting a home service franchise might be the perfect fit. As a millennial entrepreneur, you’ll appreciate the flexibility these franchises can offer, allowing you to tailor your schedule to fit your lifestyle preferences seamlessly. Whether setting your own hours, managing your business remotely, or using technology to streamline operations, a home service franchise empowers you to blend professional aspirations with your personal commitments.
3 Best Franchises for Millennials
Exploring the best franchises for your entrepreneurial journey can be exciting, especially when you find options that align with your personal and professional goals. Below are three franchises offering unique professional growth opportunities, innovation, and success.
1. ShelfGenie®
If you’re looking for a franchise that makes a real impact, one of the best franchises for millennials is ShelfGenie. This innovative brand specializes in custom glide-out shelving systems that transform ordinary spaces into highly efficient storage areas with greater accessibility. These solutions are perfect for modern living where maximizing space in kitchens, bathrooms, closets, and offices is necessary. Here is why millennials should consider ownership of a ShelfGenie franchise:
Innovative Storage Solutions for Modern Living
ShelfGenie’s customizable solutions are designed to bring order to the chaos of cluttered spaces. Whether it’s a cramped kitchen that needs smarter storage or a home office requiring efficient organization, these products meet a growing demand for making the most of limited spaces. The rise of smaller urban living units and the increasing use of homes for multiple purposes make ShelfGenie an attractive option for millennials seeking innovative, scalable business opportunities.
Addressing the Aging-In-Place Trend
The aging-in-place movement offers a significant opportunity if you’re exploring the idea of a ShelfGenie franchise. With 75% of homeowners considering renovations to enhance their living spaces to improve accessibility and functionality, ShelfGenie’s solutions are more relevant than ever. As baby boomers look to modify their homes to support their lifestyle as they age, your franchise could provide the modifications needed to enhance their quality of life and make their space safer and more accessible.
Ready to take the next step into franchise ownership in the custom storage and shelving solutions space? Download the ShelfGenie® franchise guide.
2. Mosquito Joe®
Another great option when you are starting a business in your 30s is Mosquito Joe. Specializing in outdoor pest control, this franchise provides a unique opportunity for millennials to operate a potentially lucrative and highly sought-after service. This is your chance to address public health concerns and prevent pests from getting indoors by tackling them outdoors, all while building a successful enterprise in your locality.
Embracing Eco-Friendly Practices
At Mosquito Joe, you can take pride in offering environmentally friendly mosquito control options. This franchise utilizes EPA-registered products that effectively eliminate outdoor pests while still being safe for families and pets. By aligning your business with eco-friendly practices, you attract customers who are conscious of their environmental impact, helping you to stand out in the community and contribute to broader sustainability efforts.
Building a Seasonal Business With Year-Round Potential
While the core services of Mosquito Joe may seem seasonal, the business model offers significant flexibility to provide potential for year-round revenue. You can expand your services beyond mosquito control to include tick and flea management, outdoor pest barriers, and special event sprays, adapting to different seasons and customer needs. This versatility enhances your business’s appeal and provides the opportunity to stabilize your income so you can grow no matter the time of year, making it one of the best franchises for millennials.
Are you interested in learning more about a pest control franchise? Download the Mosquito Joe® franchise guide.
3. HouseMaster® Home Inspections
With a HouseMaster Home Inspections franchise, you’re taking a critical role in the real estate process and choosing one of the best businesses for millennials. Home inspections are a big part of the homeowner process. With the growing demand for reliable property assessments, HouseMaster offers a promising avenue for millennial entrepreneurs looking to make their mark in this vital industry.
Meeting the Growing Demand for Home Inspections
The need for thorough home inspections is more pressing than ever. According to the National Association of Realtors, 88% of homebuyers request a home inspection as part of the buying process. Moreover, the average homebuyer in 2024 is expected to be 34 years old, predominantly millennials who value detailed and accurate evaluations of their potential homes. This trend provides a potential for a steady flow of clients who rely on your expertise to make informed decisions about their most significant investments.
Leveraging a Sustainable Business Model
Owning a HouseMaster Home Inspections franchise gives the opportunity to build a sustainable business that can grow and adapt over time. This well-established brand has been providing comprehensive training and support for decades, giving you many of the opportunities needed to succeed. With a diverse range of services, including residential and commercial inspections, radon testing, and more, you’ll have multiple revenue streams to thrive in the competitive home inspection market. This approach helps secure your income while positioning you as a trusted expert in a field that values reliability and thoroughness.
Take the next step in owning a home inspection services franchise. Download the House Master® franchise guide.
Explore Neighborly® for Millennial Entrepreneurs
At Neighborly, we understand that millennial entrepreneurs like you seek business ventures that provide flexibility and resilience. Some of our franchises make it easy to operate from home, and with many, you don’t need any prior business experience to become operational. We help make your move into entrepreneurship as seamless as possible. If you’re ready to explore the possibilities we offer, take the quiz and discover the franchise that best fits your aspirations, guiding you toward a potentially successful and fulfilling business ownership journey.
