Baby boomers are getting serious about securing their retirement, but it may not be in the traditional ways you think. “With the grim outlook on the future of Social Security and pension plans becoming a thing of history, relying on your employer’s retirement plan to fund your golden years may just not be enough anymore,” says Thomas Walsh, an investment analyst with Palisades Hudson Financial Group in Atlanta.
We have watched a steady increase of the age of franchisees over the years and we wonder “is this a new trend?” It seems to be because as baby boomers see their retirement goals not being met by traditional sources, they are looking for new options.
Franchising has been a popular choice for many reasons. To name a few, franchising allows you to own a business that you control and yet you have instructions for building it and a team to support it. Owning a good franchise can create an annuity-type stream of income for the owner. Also, when selling the franchise at the time of exit, a good franchise can give the retiree a nice influx of capital in a lump sum.
It doesn’t take a rocket scientist or a workhorse to run a franchise – just someone who can lead a team and follow a system. If that’s you, no matter what your age, the right franchise could be the key to your successful retirement.
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About the Author
Rich LeBrun CFB, CCIM has over his thirty-years helping his clients reach their financial freedom, build wealth and secure their future through business ownership. Contact Rich at email@example.com or at 847-912-4310.