Americans are living long past retirement and are finding that these years are the perfect time to open a business. Whether motivated by a personal aspiration or financial security, older Americans have become a fast-growing segment for those purchasing a franchise. Retirees are actually experiencing more enjoyment and improved health by staying active, both physically and mentally. Many are finding happiness and deep self-fulfillment in opening a franchise, and as franchise consultants, we strongly believe retirement is an ideal time to achieve business ownership.
Why Older Americans?
Older people have many key advantages to becoming a successful franchise owner. For one, they have the work experience behind them and have developed strategic wisdom over the course of their lives. They may have been in the workforce for many years and know what to expect and how to manage it. In addition, older people often times have access to the capital required to open a franchise, such as a cash savings or a 401K.
Franchising is continuing to be an appealing choice for aging individuals who are interested in getting back into the workforce or finally achieve business ownership. The two main factors that make franchising a perfect match for older Americans is that it offers a proven business concept and provides plenty of support. Retirees usually do not want to start from scratch and completely build a business from the bottom up. The idea of buying into a concept that already works and has instant brand name recognition is extremely appealing. In addition, the fact that franchising offers built-in assistance for everything from operations to marketing gives older Americans confidence in knowing they can go into business for themselves and not be by themselves.
Overall, aging Americans are bringing new meaning to their lives by pursuing business ownership. These ambitious individuals are proving that age is not a factor in a person’s success in franchising. They are enjoying starting and growing something that can be passed on to their heirs.
You may reflect and find that you have a passion you never had the opportunity to pursue. At FranFinders, we believe we can match your interests, passions and goals in order to find a franchise opportunity that will offer you incredible satisfaction. Celebrate life after retirement and give back to yourself by contacting one of our franchise consultants today.