If you’re over age 50 and thinking of going from employee to entrepreneur, franchising could be your ticket to the “golden years” you’ve been dreaming of. You’ll not only be your own boss, but you’ll do so with the benefit of an established brand, proven playbook, and built-in support team.

Keep working, but on your own terms

You’re not alone in pushing off retirement. As the Baby Boomer generation nears age 60, more people are working later in life for a number of reasons. They maintain good health and and have a longer life expectancy than previous generations. They are better educated, which increases their likelihood of remaining in the labor force. And the need to save more for retirement, coupled with changes to Social Security benefits and employee retirement plans, creates incentives to keep working.

There are many good options if you’re looking to take the reins of your livelihood rather than head to your front-porch rocking chair. According to a 2017 study by the U.S. Bureau of Labor Statistics, workers in older age groups have higher rates of self-employment than do workers in younger groups. Knowledge and resources gained through years of experience can put you in good stead to work for yourself. So it’s not surprising that older entrepreneurs—or “encore entrepreneurs” as some analysts call them—are finding fulfilling, successful self-employment as they make franchise investments.

Franchising gives you the freedom to:

Choose your level of engagement. Investing in a franchise business as you approach (or are already in) retirement gives you the power to select the schedule and level of time commitment you desire. You won’t need to put in the 40-hours workweeks that an independent, start-up business requires. There are multiple franchise ownership models to choose from. If working 10-15 hours a week in an executive capacity appeals to you, look at semi-absentee franchise opportunities. Want more day-to-day, hands-on involvement? Look for an owner/operator opportunity. There’s a franchise to match any level of engagement you desire.

Build your legacy. Do you ever wonder, “What do I have to show for all this hard work?” At the end of the day, investing in and owning a business is an accomplishment—it’s the foundation of the American Dream. And buying a franchise enables you to grow a significant, appreciable asset. One day you can cash it in to fund new adventures or share it with your children or grandchildren.

Benefit from your years of experience. It’s time for your years of toiling for others to actually pay off. Your life and work experience make you better prepared than young entrepreneurs to run a business. Your years in the work force have strengthened your leadership skills. You’re likely experienced with (or comfortable with learning about) processes like securing financing and working through bureaucratic red tape—which can seem like insurmountable hurdles to the inexperienced. Because you’ve worked hard and saved, you understand risk and how to mitigate it. You’re well positioned to enter franchising.

If you’re dreaming of an entrepreneurial retirement, franchising should be your first area to explore. Instead of reinventing the wheel, it lets you start with a proven model and expert training to help you launch your business. Schedule a free, no-strings call and let’s get started.