DECEMBER/JANUARY 2017


to do so by the time they reach their late 20s – according to a new study by Opinium Research.


Over a third of UK young adults dream of starting a business


n Nearly two fi fths (39 per cent) of 16- to 25-year-olds in the UK aspire to work for themselves and own a business – with 51 per cent hoping


When asked why they wanted to work for themselves, 61 per cent of participants said they wanted to make something of their own, 54 per cent wanted to have more fl exible working hours, while 46 per cent wanted to make lots of money. Only 15 per cent cited a successful academic life as the way to get ahead in business; instead, the ability to make connections (55 per cent), stand out as a business leader (52 per cent), and boast creativity (42 per cent) were deemed to be more important. A fi fth of male respondents wanted to set up a business in the technology sector, compared with just two per cent of women. Women were more likely to move into the creative industries than men (15 per cent against eight per cent). Additionally, a recent study from the


CPL Food Group invests in four new Papa John’s


n Pizza delivery business Papa John’s has announced that fast-food franchise CPL Food Group, which runs 32 Burger King restaurants, is to open four Papa John’s branches by the end of 2016. The new stores will be managed by CPL Pizza Restaurants, which is owned and operated by Lamen Reddy alongside his business partner and investor, Costa Peridakis.


Lamen explained: “Papa John’s is a brand chain that works and it’s focused on growth.


Comment Is it a good idea to go into business with my partner?


While the thought of going into business with your other half is a daunting prospect, many franchise partnerships are highly successful. Partners working together can make for a strong team as each brings their individual skillset to the business, the strengths of each person complementing the other. This can be great for a franchise business in particular, which often requires skills in admin and marketing as well as in a practical element.


Another key factor is that you would be going in to business with someone that you already trust, something that is hugely important in creating a good working relationship and can provide a solid foundation for your business. This kind of partnership also brings the added benefi t of being able to spend more time together. For those currently working unsociable hours or facing a long commute, investing in a franchise business could be the way to get a better work-life balance.


8 | Businessfranchise.com | December/January 2017


Carol Stewart-Gill is the founder of Dublcheck, a management franchise that provides commercial cleaning services


“We fi rst looked at Papa John’s a few years ago and more recently met up with some franchisees who recommended the opportunity, so we believe investing in Papa John’s stores will complement our overall business portfolio. “We took over Skegness recently and opened a new store in Accrington at the end of September. In addition to further openings planned for this year, we will also add a further fi ve new Papa John’s in 2017.” Papa John’s has also announced the opening of a new franchise on Sturry


Road in Canterbury. The store has already exceeded initial sales expectations, which franchisee Gurinder Atwal, who runs fi ve other Papa John’s in Kent, has said is partly down to the large student population in the city.


New Entrepreneurs Foundation found that the most common reasons for 18- to 24-year-old aspiring entrepreneurs not starting a business were a lack of business knowledge (40 per cent), a lack of time (32 per cent) and a lack of good contacts (28 per cent).


Rachael Camp, a researcher at Opinium


Research, commented: “The dominance of Silicon Valley ‘personalities’ in recent years has clearly infl uenced the current generation of young people, who feel that vision and entrepreneurial spirit are the best ways to get ahead in business, rather than the traditional academic routes. “It’s important to recognise the gender barriers that still exist in certain industries. Although we’re not short of young entrepreneurial woman, their lack of presence in the booming tech industry should prompt the tech leaders to consider why and what can be done to change this.”


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