No. 1 in-home tutoring franchise enables millennials to become business owners.
As one of the fastest-growing segments to own franchises in 2017, millennials are stepping up to the plate and becoming business owners. Whether they are avoiding the typical 9 to 5 route, aren’t feeling fulfilled from jobs they aren’t passionate about or simply aren’t interested in working for someone else–franchising has become a viable alternative option. Tutor Doctor, the leading in-home tutoring franchise, is ahead of the curve by seeing that potential, which is why it already has a number of successful millennial franchises on board.
One of those franchisees is 28-year-old Joseph Folwell who currently owns three territories in London. Around a year ago, when he was working as a teacher and private tutor, Folwell learned about the Tutor Doctor brand from UK manager Tim Morris at a conference. With his background in the industry, he quickly understood the demand for the brand’s personalized one-on-one approach to tutoring. One thing he knew for sure about the concept–it was definitely going to be big and he needed to sign on soon before territories were taken.
“Coming from an education background, it was a natural fit and the demand for private tuition was growing rapidly across the globe. For me, I felt Tutor Doctor was going through that phase of expansion and I felt now would be the right time to join,” said Folwell.
One thing Folwell knew was that he always wanted to be his own boss and be a business owner. Knowing he would have to rely on himself for success, could make his own hours and work from home helped him decide the Tutor Doctor franchise opportunity was right for him.
“We do a lot of community marketing and that’s where our leads come from. I knew being my own boss would work well because the more people I speak to and the more visible I am in the community, the more customers I have and the more successful I am.”
More millennials are leaving college thinking what is next and not wanting corporate jobs. Folwell also believed it was the perfect time to get into business ownership at such a young age without other responsibilities like kids or being married. The flexibility and timing was also a major factor for American franchisee Ashley Mulcahy who owns three territories in Orange County, California.
“I definitely have way more flexibility than any of my friends and people my age. I have control of when I work, and I somewhat get the summer break because school is out, which is nice. I love being able to plan and do everything on my own schedule and work when I want to,” said Mulcahy. She added that having control over how much you make–after paying your employees–sales and revenue in addition to not having to worry about being laid off is a great career option for many millennials willing to put in the work.
With a number of millennials struggling with student debt or increasing rent costs, how can individuals in this group afford to buy into a franchise and get the ball rolling for their career in business ownership? That is where Tutor Doctor’s Young Entrepreneur Scholarship program came in handy for Folwell to get started and sign on with the brand. Anyone from age 21 to 28 is eligible once they pass a personality assessment and test to compare their potential to current top performing franchisees within the system. If you score highly, Tutor Doctor will help fund the cost for your territory.
With or without financial assistance, millennials interested in becoming part of the No. 1 in-home tutoring franchise in the world can expect their initial investment for a territory franchise to range from $68,500 to $96,700 or £39,700 to £74,400 with startup costs for territory franchises falling between $73,500 and $101,700 or £29,700 to £64,400.
Mulcahy was lucky enough to work for a Tutor Doctor franchise as a tutor first and then within a few years, started to see the potential of the business from the inside. The franchisee she worked with hired her on as a tutor but quickly needed help with admin, marketing and additional support running the business. She continued to take on more and more responsibility until she was nearly running the business herself. When the franchisee was ready to sell, Mulcahy was at a crossroads in her own career and life.
“I had graduated with my Bachelor’s degree in education and was applying for my Masters at USC. I got in and was going to start in the summer when I was presented with the opportunity to own the Tutor Doctor franchise. I decided I could always go back to school later on and who knows when I will be able to buy the business again–it was such a unique opportunity. I held off on school and signed on with Tutor Doctor full time,” said Mulcahy.
Although a great opportunity to work for yourself and own your own business, being a young business owner is not easy. Being a millennial in the industry can bring doubts from outsiders that have more experience in their careers. For Mulcahy, she feels that having less business experience has worked in her favor because he follows the system and trusts the model corporate has laid out without trying to reinvent the wheel. She also prides herself on being able to take risks in her marketing to see what works and doesn’t have preconceived notions of what will be successful.
Folwell also takes pride in the fact that he is such a young business owner, saying, “I feel proud to be the youngest one in the area and so far I’ve had a fair amount of success. It shows that young people can survive and be successful in business."