Do You Need a Degree to Start a Business? Not Necessarily

Do you need a degree to start a business? Not always, and your experience will often be enough to give you the knowledge you need. Here's what to know.

Going to college has long been viewed as a pivotal milestone on the road to financial stability. Having a degree can certainly open doors. It equips you with theoretical knowledge, problem-solving skills, and a network of contacts that can be beneficial in the business world. For instance, a degree in business management can give you a solid background in marketing, finance, and human resources, which are key components of running a business.

However, a degree isn't a golden ticket to success. Many successful business owners have thrived without one. What they lacked in formal education, they made up for in practical experience, grit, and a willingness to learn. Take John Mackey, for instance, who co-founded Whole Foods without any college education, starting his journey with a natural foods store in Austin, Texas. Similarly, Russell Simmons founded Def Jam Records after only briefly attending classes at City College of New York. Homemaker Debbi Fields turned her chocolate chip cookie recipe into Mrs. Fields Cookies, a chain that now boasts 250 units. Nearly 1.85 million business owners in the U.S. have achieved success without the benefit of a college degree.

The average cost of a college education at a public university is $104,108, making it financially unattainable for a significant portion of the population. Many graduates might not be ready to hit the books after high school, and others may choose a future in the military.

 

Franchising Paves the Way for Success

Lacking a degree shouldn't deter you. Instead, channel your energy into acquiring hands-on experience. Whether it's through on-the-job training, specialized courses, workshops, independent learning, or guidance from established business owners, there are multiple paths to gaining the knowledge you need. Familiarize yourself with your chosen industry, cultivate professional relationships, and acquire practical skills essential for business management. Often, real-world experience serves as a more impactful instructor than formal classroom settings.

Franchising offers a unique opportunity for those without a degree. Many franchises provide comprehensive training programs, ongoing support, and a proven business model. You don't have to reinvent the wheel; you just have to follow the playbook. Many franchises prioritize experience, skills, and the right attitude over formal education.

Why Premium Service Brands Stands Out

When it comes to franchising, Premium Service Brands (PSB) is a leader in the home services industry. Our lineup of niche home services brands includes 360° Painting, Maid Right, ProLift Garage Doors, Kitchen Wise & Closet Wise, Window Gang, Rubbish Works Junk Removal, The Grout Medic, House Doctors, and RooterMan.

For an initial investment ranging from $98,100 to $148,600, you get a turnkey business that’s built to last. The home services industry is resilient, even in economic downturns, making it a lucrative sector for investment. Homeowners spent an average of $12,904 on home improvement and maintenance in 2022, according to Angi. PSB's diverse portfolio of home service brands — from painting and garage door services to cleaning and home repairs — allows you to choose a franchise that aligns with your interests and skills.

PSB has years of experience providing entrepreneurs with comprehensive training and ongoing support. As a franchisee, you're not just buying into a business, you're investing in a proven model of success. We equip you with the tools, resources, and knowledge you need to hit the ground running. From initial franchise training programs that cover all aspects of business operations to marketing support and a dedicated franchise consultant, PSB ensures you're well-prepared to navigate the complexities of business ownership.

Learn More About PSB

Our tried-and-true business models ensure you’re set up for success from the very beginning. Do you need a degree to start a business? Not when you partner with PSB to launch a franchise. We’re searching for franchise owners with a customer service mindset and an entrepreneurial spirit. Get started to learn more about how franchising can help you achieve your dreams.