Quick Find



Personal Investment:


Franchising for the Elderly or Semi-Retired

Although most franchises that are on the market are those which are based around either the food or the retail industries, there are also a lot of franchises today which can be engaged in by the elderly. Elderly and semi retired people have a lot more opportunities in today’s society – there are a lot of businesses which can be managed by the elderly or semi retired that take advantage of the internet and new technology to provide new business opportunities within reach of all. In some ways, the elderly or semi retired have some advantages over the young when going into the franchising process.

One of the primary advantages which the elderly or semi retired may have over the young is the advantage of money – the elderly or semi retired may have savings which can be used to start a new business. Money is a frequent stumbling block for the young, who have not yet had the time needed to save up for the initial investment money to start a business. Even with a bank loan, it may not be possible to put together enough money to get business started and then grow to the point where it is capable of being self-sufficient.

The elderly or semi retired have an advantage here as they are more likely to have some kind of retirement fund put together – something which they can use to get their company rolling and take care of any unforeseen expenses which may arise during the opening months. If there is more money available to the new franchise company, then there is a greater likelihood that it will have the time that it needs to reach a profitable status and start bringing in money.

Another one of the advantages that the elderly or semi retired may enjoy when putting together a franchise business is the greater amount of experience which they have. An elderly or semi retired person is likely to have years of experience in either one or several different fields. All of this industry and business experience is a great advantage when it comes to starting a franchise – the elderly or semi retired people who are starting franchises may have a better sense of the potential problems that a new business can face as well as the risks which are involved. This makes them more effective business owners and helps them to form businesses which can reach their full potential.

Finally, the last of the major advantages that the elderly or semi retired are likely to have when they put together a franchise business is the advantage of greater connections – people who have lived longer and who have more industry experience also have the benefit of knowing a lot more people. In many cases the people you know are as important or even more important than what you know – with the right connections it is true that you can do almost anything and if you have important industry connections who can get you the right assistance and the best prices then you have a much better chance of being successful when you enter the industry as a small business owner using a franchise business.

These are just a few of the many advantages that the elderly or semi retired may find that they can use when they become franchisees – there are a lot more ways in which the elderly or semi retired may be able to take advantage of their status for greater success in business, and there is no reason why the elderly or semi retired cannot enjoy the same level of success in business and in the franchise industry as their younger counterparts.

What kinds of franchises are the best choices for the elderly or semi retired? It is unlikely that the elderly or semi retired will want to enter some of the kinds of franchises which are more popular among the young – for example the elderly or semi retired are not too likely to want to start their own fast food franchise, although in some cases they may! When the elderly or semi retired start their own franchise businesses they usually look for business opportunities using the specific skills which they have.

A business to business consulting franchise is just one of the great choices which are available to the elderly or semi retired – given the characteristics which this demographic has when it comes to the franchise industry – i.e. they are generally well experienced in an industry and possess powerful contacts, the elderly or semi retired can be a success in a business to business consultancy because they can share the advantage of their experience as well as the contacts which help the businesses that they work with to find their own way within the industry.

In many cases, a business to business consultancy franchise is a great way for retired professionals to take advantage of everything they leave their industry with. This step is a natural one as people move from working directly in the industry to working on the sidelines – still staying involved with the business they know and which has made them their living but now working in a different capacity which allows them to relax more and not spend all of their time at work. The work performed by a business to business consultant is less stressful and less time consuming in general and is a good way for the elderly or semi retired professional to relax into a retirement job.

Other kinds of businesses in the franchise market which are based around the needs of the elderly or semi retired demographic are those which allow people to stay at home while they are engaged in their business. Stay at home franchise businesses are an ever increasing part of the franchise market. The ability to sell all manner of products to people via mail order with advertising on a web site over the internet has greatly increased the number of work at home franchises. Using a franchise to put together a work at home business is a good way for the entrepreneurial elderly or semi retired person to know that the business plan they are working from is one which has been responsible for proven successes and results. This is a lot easier than flying blind with a plan which has not been proven and may not have the potential for success.

The elderly or semi retired may then run a stay at home business which allows them to work at their own pace – instead of spending a lot of time on trying to expand and build the business quickly, they can relax a bit more and enjoy the benefits of their retirement, working when they have time and limiting the number of orders that they take. This is one of the possible benefits of working online which makes it an easier option for a lot of elderly or semi retired people. There are lots of products which can be sold online – and these include anything which an elderly or semi retired person can make and send through the mail.

Of course, there is no reason why an elderly or semi retired person cannot enjoy success in the vast majority of the fields where people normally act in the franchise market. An elderly or semi retired person who wants to be a franchisee has so many advantages in this process that they are more likely to succeed and more likely to be accepted into a franchise programme due to their increased experience, and increased financial security. Truly, there has never been a better time for people who are elderly or semi retired to get involved in the franchise industry and start looking for ways that they can use the franchise market to be their own boss.

If you are elderly or semi retired and you have been looking for options in the franchise industry, I hope that this article has opened your eyes to a few of the possibilities – this should only be the start for you, however, as you evaluate the skills and abilities which you have accumulated over a lifetime of experience. When you put together an accurate accounting of the things which you can bring to the table you will be able to look through the types of business franchises which are available and pick the kind best suited to you. I wish you good luck in finding a business franchise which is friendly to the elderly or semi retired and which works for you and your specific needs!

Reader Comments

No comments have been posted.