Franchising as a Second Career: What Retirees Need to Know About Starting a Business
Category: Entrepreneur
Who says retirement has to be boring? These days, it’s the best time to start the next phase of your career.
If you’re coming up on retirement but still feel as creative and ambitious as ever, we have good news for you: You don’t have to succumb to the previous generation’s golf course retirement package.
In fact, as a new retiree, you’ll have the life experience and financial stability to finally pursue career dreams that weren’t possible when you were young, green, and climbing the corporate ladder.
Now, you’re in the position to be your own boss.
Franchising is one of the best possible business options for retirees. You can take all the skills that you learned on the job in your first career - no matter what your role may have been - and use them to successfully run your own business.
Is 60-plus too old to start a second career? No way! You’re never too old to start something new. In fact, when you choose franchising as a second career, your age is one of your biggest assets.
According to Forbes, “Older professionals possess wisdom and resilience acquired over many years in the workforce, and that is a great asset when it comes to running a business.”
Being a franchise owner means your second career will come with much more freedom and flexibility than your first. Buying a franchise guarantees built-in support from the parent company. There is less risk involved than starting your own business from the ground up.
While you’ll likely manage the business’s finances and managers, once your business is established you won’t have to be present full-time for it to thrive. (You can still hit the golf course every now and then.)
Talk to your franchise consultant about what kind of work-life balance you want in this new stage in your life. Your consultant’s inside knowledge of the industry can help direct you to some of the best franchise companies that align with your life plan and values.
Your consultant can also help guide you toward franchises with the lowest risk. At this stage in your life, you want to take control of your dreams and destiny - not gamble them away. Joining a long-standing franchise that has been operating successfully minimizes risk and creates ideal circumstances for franchising as a second career.
As you plan for retirement, schedule your free consultation with a franchise consultant. It will be the most rewarding thing on your to-do list.
