Americans are working longer and retiring later. Many of us can expect to work until we’re 70 or older. If you’re able to retire but not yet ready to quit working, this can be the time in your life when you fulfill the dream of owning your own business.
Investing in a franchise opportunity can be an alternative to running out of retirement funds early. People who are in the final years of their careers can parley their business experience and retirement funds into a successful and satisfying franchise business.
You can eventually hire a manager or principal operator to run the business for you when you want to go into full retirement and live off the profits of the business, or sell your successful franchise and live of the profits of the sale.
Franchises can be a better option than a regular business plan for retirees because they come backed with years of experience and a business plan that’s proven to be successful. When you’re taking a gamble with your retirement funds, you want a sure bet, and you want it to pay off as quickly as possible. Franchising is less risky than opening a business you dreamed up, but can be just as satisfying.
We’ve collected a selection of franchises for retirees that we think will meet the needs of many people who are ready to switch careers. Here are a few to consider:
- Cafe2U is a mobile coffee franchise, homebased, with lots of flexibility and all the costs — including a specially outfitted van — clearly laid out upfront. Once you’ve made your initial investment, overhead is low and the profit margin is high. Smart Investor Magazine named Cafe2U its Best Value Franchise System, and this is certainly a business where years of making friends will pay off.
- Digikids is another low investment, homebased business opportunity that can be a one-man-band or a business you run with employees to do the hands-on jobs. Overhead is low, and you’re providing a valued community service — child safety IDs. If you enjoy spending time with kids and families, you’ll like the fact that families come back each year for updates.
- CruiseOne is a work-from-anywhere vacation planning business with financing options. If you’re a tech-savvy retiree, you can probably relate to people who find looking for vacation information online frustrating — but finding a travel agent nowadays is almost impossible! Provide that valuable service and enjoy the flexibility which lets you travel, too.
- Totally Accessible Homes serves the growing market of people who need special accommodations to their living spaces. This franchisor provides lots of training, and life experience is very valuable in this business. You’ll need to be eligible to become a general contractor, and there is a 24% discount for veterans.
- G’Day Pet Care! is a home based business with multiple income streams and plenty of flexibility. The growing pet care industry is a lucrative area, and this business is designed to be scalable. You can add multiple franchises as you grow and hire a business manager to take care of them, giving yourself more leisure.
Of course, there are many, many different franchise opportunities to choose from, and you are not limited to those we list here — or even the larger number we list as especially suitable for retirees. Why not take time now to browse through our large database of information?