5 Reasons to own a franchise in retirement

As many approach retirement from their career, they believe that their livelihood is dependent on their savings or social security income. There is a new generation of seniors today that reject that notion of limitations of their livelihood. Savvy seniors have discovered franchise ownership as an investment in their ongoing future as an alternative to fading into the distance. Here are five reasons they are taking retirement as a new beginning instead of closing the book.

1.      Who says I have to be on a limited income?

Limited income is only a reality for those who choose to live within the confines of the rules that Social Security dictates. A franchise brings more opportunity, more income, and more satisfaction to come. With some franchises, retirees can still enjoy a high degree of freedom as a franchisee, much different than they had in their lifetime careers. They can continue building their wealth in retirement, and even develop a legacy to pass on to the next generation.

2.      I want to try something brand new.

One of the biggest advantages of most franchises is that no prior experience is necessary. With the use of proven business models and expert training, franchisors are driven to build their franchisees to enjoy the same level of success that they achieved. Your lifetime experience holds much value and wisdom, but the specific details to the business are all provided for you.

3.      Because I’m not done yet!

Many people reach retirement age feeling like they’re not ready to throw in the towel just yet. You still have people to influence and wisdom to share with your degree of a lifetime of experience. As a franchisee, you have the opportunity to groom and share with the next up and coming generation. There is an incredible sense of satisfaction in helping others find their path to success. Being a business owner is a natural opportunity as a position of authority in the company, but we can also introduce you to franchise opportunities designed around developing others, like business coaching. It’s like having your cake and eating it, too.

4.      I can choose my degree of involvement.

While it’s true that some franchises involve much time and effort to operate, others bring an excellent degree of freedom to their franchisees, especially compared to their full-time careers. Semi-absentee franchises are fantastic options for retirees, enabling them the freedom to enjoy the next chapter of their lives with only a minimal amount of dedication to the business. Some franchises can be modified as semi-absentee with a good management team in place.

Salon franchises are a perfect example of a business easily modified to be semi-absentee. With the salon’s method of operation, having each employee manage their transactions and a manager handling the details, the franchisee can enjoy an extraordinary degree of freedom.

5.      I have an ace on my side!

Hundred Acre Consulting can help you choose the perfect franchise to match your vision of what your retirement years will bring you. Our free services to aspiring franchisees don’t stop there. We are in your corner through the entire process, from franchise exploration all the way to the grand opening. You don’t even have to wait to retire, either. Start a semi-absentee franchise as a side-hustle today and enjoy a seamless transition. Contact us, and let’s start exploring today!