Let’s face it, most baby boomers haven’t saved enough for what now appears to be a lengthy retirement. Especially, after experiencing one of the worst economic downturns in America’s history. The 401k you worked so hard to fund and the home equity you counted on, may no longer provide the peace of mind you were looking for.
Further, technology is enabling us to all live longer and healthier. Advances in pharmaceuticals, anti-aging therapies, organ clones using advanced stem cell technology, and medical technology are fueling a longevity revolution. In fact, right now, there are hundreds of drugs that have endured years of FDA testing about to be released and many with an intent to resist the aging process.
Is 65 the new 45? That may be a bit of a reach, but, there is no question, many retiring baby boomers will reengage into the workforce and many of them will want to participate in the purchase of a small business or franchise. A large contingent of these people will have money to spend and, it goes without saying, the group will be huge.
Just the other day, I got a call from a recent retiree. He asked me to recommend a franchise or a small business he could operate from his home or from his sail boat. He said, he wasn’t interested in a job or a commitment that would require him to be available 10 or so hours a day or even 5 days a week. He wanted something flexible and he wanted to have an opportunity to supplement his retirement.
At America’s Best Franchises, we make an effort to be anticipatory in our thinking. That said, we are creating a franchise category specifically designed to feature franchise opportunities that cater to the baby boomer, recently retired, looking for a franchise or small business to operate from home or that may require only a computer and a telephone.
Most of the franchises will be low cost and low overhead and require some computer expertise, marketing skills and the ability to run and operate a business while building relationships on the telephone.
We see franchising as, perhaps, the very best fit for new retirees to reengage into the work force. Less risk than starting a business from scratch, proven business models and a variety of franchise choices to meet the needs of the baby boomer entrepreneur.