The University of Michigan-Dearborn, with over 90% of its students hailing from the Southeast Michigan region and over 80% remaining in Michigan upon graduation, is committed to being a driving force in educating the next generation of Michigan entrepreneurs. The Business of Franchising Initiative, the first of its kind on a Michigan university campus, will increase awareness among students and young alumni about franchising as a business and career option while demonstrating how franchising is a viable growth strategy for start-up firms and existing businesses in Michigan. The initiative is part of a larger university effort and strategy to develop young adults with entrepreneurial skills and talent.
There are over 3,000 franchising opportunities in the US, and many existing franchisees are nearing retirement without a succession plan. Now is an especially opportune moment to engage young people into established business models and provide entrepreneurial outlets for them to benefit the Michigan economy. Franchising not only provides an entrance into the world of entrepreneurship, it is also a solid growth strategy for entrepreneurs.