In the past, you were probably taught that a higher level of education would lead to more opportunities in life. And this is still certainly true in some professions, such as medicine and law. But just how much book knowledge is needed to own a franchise? The answer may surprise you.
Should you go to school for franchising?
Let’s say you went to high school and graduated college. Perhaps you even got an advanced degree. If you want to own a franchise, it definitely helps to have a sales or business background – so earning an MBA (Master of Business Administration) could be worthwhile. However, franchises don’t typically request that their franchisees have advanced degrees – or any, for that matter. All you need to get started is the initial capital to purchase a license for the type of franchise you want.
Did you graduate from the school of hard knocks?
Now it’s time for a game of “devil’s advocate.” Say you DIDN’T finish high school or college, and didn’t earn any advanced degree. But you’ve worked for many years in some sort of business, learning skills that directly correlate to the franchise you want to own. Some would say that’s education enough.