Have you noticed that over 50 franchises are a thing? That’s right. An increasing number of older Americans are purchasing franchises instead of retiring. Whether it’s out of necessity, because the cost of living is higher and their retirement savings don’t stretch as far, or because they want to remain active and productive longer, many older Americans are finding fulfillment and the income to support a better lifestyle through franchise ownership.
4 Reasons to Consider Over 50 Franchises Instead of Retiring
If you’re over 50 and are interested in entrepreneurship, here are four reasons that a franchise business may be a good fit for you, and why you might enjoy franchising more than retiring.
1-You Have What It Takes—Running a franchise business will let you put the experience, business sense and knowledge you’ve gained all through life to good use. All the skills you’ve learned over the years likely make you a perfect fit to be a franchise owner. This is why many franchise brands like MaidPro love working with older entrepreneurs.
2-It’s a Good Investment—When you pick a good franchise brand, you can generate a return on your savings much faster than with most traditional businesses with reduced risk. And when you’re no longer able to run the business, many franchises will let you sell or pass the business down to family members.
3-You Can Still Have a Good Lifestyle—If you choose a franchise system that lets you choose how much you want to be involved in the business, you can transition to being an owner-manager once the business is off the ground. You can hire staff to do most of the day-to-day work, while you handle the big decisions. This gives you plenty of flexibility to work, continue to earn money and still have free time to do all those things that make life worthwhile, like traveling and spending time with family.
4-You Have a Purpose—A lot of people retire and then realize they no longer have a reason to get up in the morning. Running a franchise business will not only add excitement and interest to your life, but will provide you with fulfillment and purpose.
Want to learn more about over 50 franchises or purchasing a MaidPro franchise? We’d love to speak to you.