4 answers
Marion
Student
Louisville, Kentucky
1
Question
Asked
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I am a high school senior. I attend the historic louisville Central high school. I want to be an entrepreneur . I aspire to own a franchise. What should be the first step I take?
After a course in learning about a franchise. And the NBA player that made billions from owning them I became curious and now I’d like to step my foot into that space.
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4 answers
Rebecca Aidoo
Fashion specialists
20
Answers
Accra, Greater Accra Region, Ghana
Updated
Rebecca’s Answer
Owning a franchise is an exciting goal, and the best part is that you’re already thinking about it early. The first step isn’t buying a franchise—it’s building yourself into the kind of entrepreneur who can run one successfully. Start by choosing an industry that interests you and learning how the business works from the inside. Study the franchise model, understand how operations, customer service, and leadership all fit together, and use free resources like SCORE.org and SBA.gov to build your knowledge. Get experience by working in a business you want to own one day, because real-world practice teaches you more about success than any textbook. Begin saving and developing your financial habits now because franchises don’t only require money—they require responsibility. Most importantly, build your mindset and skills through leadership, teamwork, and problem-solving. A franchise isn’t just a store someone buys; it’s an opportunity that rewards preparation, discipline, and vision. If you lay the foundation now, you won’t just dream of owning a franchise in the future— you’ll be qualified and ready to take that step when the time comes.
Anthony Kofi Hene-Amoah
Translation, Editing, Project Management, Research and Evangelism
203
Answers
Jema, Brong Ahafo Region
Updated
Anthony’s Answer
Please, note the following, concerning how to be an entrepreneur:-
1. The need to have much interest and good knowledge in the business.
2. The requisite capital to do the business.
3. The need for diligence and hardworking ability.
4. Consider the location of the business, how suitable it is.
5. Favourable marketing conditions.
Best regards.
1. The need to have much interest and good knowledge in the business.
2. The requisite capital to do the business.
3. The need for diligence and hardworking ability.
4. Consider the location of the business, how suitable it is.
5. Favourable marketing conditions.
Best regards.
Wong Loke Yuen
Head of Programme cum Senior Lecturer
645
Answers
Johor Bahru, Johor, Malaysia
Updated
Wong’s Answer
A good first step is to educate yourself about franchising and business management. You can read books, articles, or online guides about how franchises operate, how much money it takes to start one, and what a franchise owner does every day. You can also take online courses or watch webinars from franchise organizations or small business programs. The more you understand the business, the more confident you will be when you are ready to own a franchise.
The second step is to get experience. Even in high school, you can start building skills that help future business owners. Jobs in retail, restaurants, or other customer service areas teach you how businesses run, how to work with customers, and how to manage staff. You can also join school clubs, entrepreneurship programs, or volunteer for community projects. These experiences help you learn leadership and problem-solving skills, which are important for running a franchise.
Another important step is networking and finding mentors. You can talk to local business owners, franchise owners, or professionals who can share insights about starting and running a business. In addition, your school's career counselors may help you connect with mentors or workshops. Mentors can provide guidance, advice, and even connections to opportunities that aren't publicly advertised.
The second step is to get experience. Even in high school, you can start building skills that help future business owners. Jobs in retail, restaurants, or other customer service areas teach you how businesses run, how to work with customers, and how to manage staff. You can also join school clubs, entrepreneurship programs, or volunteer for community projects. These experiences help you learn leadership and problem-solving skills, which are important for running a franchise.
Another important step is networking and finding mentors. You can talk to local business owners, franchise owners, or professionals who can share insights about starting and running a business. In addition, your school's career counselors may help you connect with mentors or workshops. Mentors can provide guidance, advice, and even connections to opportunities that aren't publicly advertised.
Rick Kneisley
Retired Investment Broker and Investment Sales Manager
33
Answers
Georgetown, Texas
Updated
Rick’s Answer
Marion,
I love that you’re thinking like an entrepreneur. That instinct, to want control over your future, is a powerful one, and it’s worth honoring.
Others here have already done a good job explaining the education, research, and preparation involved in owning a franchise. I’d like to share a piece of reality that doesn’t get talked about as openly.
A franchise is not just an idea or a work ethic. It is first and foremost a capital-intensive business. Most franchises require a substantial upfront investment, ongoing fees, operating cash, and enough financial breathing room to survive while the business ramps up. That doesn’t mean it’s out of reach, but it does mean it’s rarely a “first step.”
In my own career, every successful entrepreneur I worked with had one thing in common: they didn’t start with the franchise. They first built financial strength, through a career, a trade, a profession, or a smaller business, until they had the capital and confidence to take on something bigger. A few had the family wealth to begin with.
Here’s the important part - that doesn’t make you any less of an entrepreneur. In fact, learning how money works, how cash flow feels, how stress changes decision-making, and how to manage risk is entrepreneurship in its most practical form.
Think of a franchise not as the beginning of your journey, but as a destination - something earned through preparation, experience, and financial stability. If you keep the entrepreneurial mindset while you’re building that foundation, you’re already on the right path.
Rick
I love that you’re thinking like an entrepreneur. That instinct, to want control over your future, is a powerful one, and it’s worth honoring.
Others here have already done a good job explaining the education, research, and preparation involved in owning a franchise. I’d like to share a piece of reality that doesn’t get talked about as openly.
A franchise is not just an idea or a work ethic. It is first and foremost a capital-intensive business. Most franchises require a substantial upfront investment, ongoing fees, operating cash, and enough financial breathing room to survive while the business ramps up. That doesn’t mean it’s out of reach, but it does mean it’s rarely a “first step.”
In my own career, every successful entrepreneur I worked with had one thing in common: they didn’t start with the franchise. They first built financial strength, through a career, a trade, a profession, or a smaller business, until they had the capital and confidence to take on something bigger. A few had the family wealth to begin with.
Here’s the important part - that doesn’t make you any less of an entrepreneur. In fact, learning how money works, how cash flow feels, how stress changes decision-making, and how to manage risk is entrepreneurship in its most practical form.
Think of a franchise not as the beginning of your journey, but as a destination - something earned through preparation, experience, and financial stability. If you keep the entrepreneurial mindset while you’re building that foundation, you’re already on the right path.
Rick