Become a Franchise Owner: An Excellent Alternative Way to Fund Your Retirement
Daniel Hayes
For Americans approaching retirement age, a growing concern has them second-guessing whether or not they can pull the trigger: “Do I have enough money to retire?” Spending time at the beach, traveling the world, and spending time with grandkids are the dreams of anyone looking forward to their golden years.
For those asking themselves if they can retire and how comfortably, they may want to look into franchising as a way to supplement their retirement savings. This article will cover why franchising is a good investment opportunity for those nearing retirement age and why the time to start planning is now.
Will Your Retirement Fund Be Enough?
For those approaching the age when they can begin tapping into those hard-earned retirement accounts, the reality sets in that they will not likely be retiring wealthy. Oftentimes, retirement funds simply fall short of what’s required to live comfortably for the following reasons:
- The stock market is unpredictable. With so much volatility in the stock market recently, soon-to-be retirees are watching many of their investments take huge losses just before they’re ready to leave the workforce.
- Limitations of Social Security and pensions. Social security and even pensions should be seen as supplemental income, rather than a vehicle able to keep pace with living expenses alone.
- Cost of living and rising inflation. With the cost of everything increasing from energy to homes, food, and other consumer goods, our post-pandemic world has been putting great strain on savings accounts nationwide.
It’s these harsh realities in today’s market that have people asking themselves, “What else can I possibly do?” Well, the answer may be franchising.
How to Grow Your Retirement Fund: Why Franchising is a Good Investment
Maybe full retirement just simply isn’t in the cards right now, but consider this option. Scaling back on your hours and backing away from the rigors of full-time work is often a great compromise.
Owning a franchise is more flexible than many believe. While possessing this income-generating asset, you have the flexibility of how much time you can spend on it, and do something that can bring you absolute joy. Consider these benefits:
Part-time Office Hours—With Full Ownership
Franchisees do not have to devote a whole week to their franchise—in fact, many can scale back their level of work to only a couple of days a week.
Semi-abesentee ownership is a franchise model that allows you to supplement your primary source of income while letting you slow down your mainstream life. In other words, it provides additional income to support your retirement account while freeing up more time from full-time work.
Recurring Revenue to Grow Your Nest Egg
Franchises can provide a steady income stream, and, depending on how much or little you want to be involved in the business, it can even be passive income. This model helps you better your financial position in retirement as a hands-off franchise partner.
Whichever franchise model you choose, having that constant income stream will leave you with a much healthier nest egg for your golden years.
Startup Stability
Unlike a traditional startup business, where you start from scratch, a franchise is a known company with an established business model.
A franchise will know precisely what equipment is needed, how an interior should be decorated, and often has a demographic report ready to determine key areas that may be favorable for a new franchise location.
Brand Power to Boost Growth
Lastly, a brand’s reputation is a strong selling point for starting a franchise—you’d be representing a brand that customers already know, like, and trust without spending years building up your own notoriety as a business owner.
When Should You Start Planning Your Franchise Investment?
There are many benefits to actually starting this journey
before you retire, or very soon after retiring. The sooner you can get the ball rolling, the more valuable the asset will be.
Consider these reasons why franchising fits well into your retirement planning:
- Supplementing retirement income. Cover rising living expenses where pensions and Social Security fall short.
- Building wealth and a legacy. Owning a franchise allows you to continue building wealth through retirement and create a legacy that you can pass on to family members.
- Enjoying reduced risk in business ownership. With a proven business model and established brand recognition, franchises are an excellent choice for retirees looking for a new venture with low risk at their stage in life.
- Having a purpose and maintaining mental stimulation. Running a franchise can cure the feeling of aimlessness or isolation accompanying retirement. Staying busy gives oneself purpose and keeps the mind sharp.
- Leveraging accumulated experience and skills.
Decades of experience in the workforce give retirees a great advantage. They can use their wealth of knowledge, wisdom, and skill sets to run a business more easily than other entrepreneurs.
Become a Franchise Owner—Without Going It Alone
The thought of owning a business upon retiring after years of full-time work is probably exciting and a little terrifying at the same time!
But, thanks to franchise consultants, like those at Hundred Acre Consulting, you don’t have to go it alone. With years of experience and our desire to keep your best interests in mind, working with a franchise professional on how to open a franchise can help make your new adventure a reality.
Consider
booking a call with us today to see what kind of franchise excites you as you enter your golden years. To get an idea of all the possibilities,
visit our website for a complete listing of the franchises we represent. Together, we can make it happen!
The growing popularity of heat pumps in the United States reflects a shift toward energy-efficient, cost-effective, and sustainable solutions for residential and commercial spaces. With their ability to address heating, cooling, and air quality needs, heat pumps have become indispensable in modern living. However, maintaining their efficiency and benefits requires professional cleaning services, such as those provided by Vermont’s own We Clean Heat Pumps.
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Franchising has proven to be an incredibly successful business model for countless entrepreneurs, offering structure, support, and a proven system for achieving success. For veterans, the franchise model can be particularly appealing, as it aligns closely with the disciplined and strategic approach they have honed during their military service. Learn more—plus read the exact steps to get started as a franchisee here.
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What attributes differentiate the master franchise model from other options? Why is it an exceptionally sought-after choice for entrepreneurs and investors alike? While other franchise models afford specific benefits such as “best for new investors” or “most flexibility in a specific geographic region,” master franchise models stand unparalleled for growth and profitability in several key areas. In this overview, we’ll examine six key financial and operational benefits to master franchising as a passive income strategy, so you can decide if this model is the most suitable addition to your portfolio.
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As a Certified Franchise Consultant (CFT), I assist clients in understanding the franchise industry and reaching their business ownership aspirations. My clients benefit from my advice, education, and coaching services. I introduce them to businesses that align with their backgrounds and ambitions, helping them determine whether becoming a franchisee will help them achieve their goals and is suitable for them personally. The mission of Hundred Acre Consulting is to promote community and economic development by aiding families and individuals in achieving their dreams of business ownership. I do that by starting with a portfolio exceeding 800 franchised brands across 78 industries. Hundred Acre Consulting is a comprehensive, certified franchise consulting and referral firm serving clients in the United States, Canada, and 80 countries around the world. My approach is unique as I focus on my clients’ lifestyle goals and financial objectives. I assist my clients in evaluating whether franchising is a viable option to meet their absolute goals and objectives, and if so, which business models would be most effective. For me, understanding the client's reasons comes first, followed by how they can achieve their goals, and finally, what the business does. I began consulting in the nonprofit, entertainment, and franchising sectors in early 2008. Since 1983, I have been coaching emerging and established enterprises and organizations in both the private and public sectors, focusing on business development and contributing to economic and community growth.
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Consider the advantages of owning your own business: the ability to act as your own boss, set your schedule, and exercise control over both your financial stability and lifestyle. This goal is attainable. It is not an unrealistic aspiration or reserved for others alone.
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When considering becoming self-employed, one might contemplate whether to develop a startup or invest in an existing franchise. So, what is a franchise? A franchise involves a company (franchisor) granting an individual (franchisee) the right to operate a branch of their business. This permission is provided for a specific area and comes with guidelines to ensure brand consistency is maintained.
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G iven that the median age of all franchise owners is between the ages of 45 and 54, many younger people are left wondering, “Am I too young to be a franchise owner?” But contrary to popular belief, becoming a franchise owner at a young age has distinct benefits. Most millennials don’t have experience running a business or a robust network of entrepreneurial social connections, making it hard for them to strike out on their own. Owning a franchise can provide support in these areas, already packaged with policies, processes, and networks that young investors might otherwise lack. In addition, franchises have lower startup costs, making them an investment with the potential to serve you for years to come.
Y ou’ve finally signed the paperwork, and you’re officially a franchise owner. Or perhaps, you’re still in the process of discussing franchise opportunities with a franchise consultant. Either way, you should know that your first year in business as a franchise owner won’t be easy. Franchisors might try to tell you that it’s smooth sailing in the beginning, but the first year of franchise ownership is generally the most difficult. It will take time for you to grow a consistent customer base, the work hours will be long, and retaining staff will be challenging.
C reatives often shy away from franchise opportunities, assuming that these businesses will limit their ability to explore new ideas and express themselves. At a glance, this concern seems valid since franchisors are known to have strict policies and procedures. These stringent regulations determine elements like the internal workings of the franchise and how it should go about marketing.
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Many people know what it’s like to receive a message from a long-lost high school classmate asking if you’re interested in “learning more about their business.” You click on their profile, and it’s full of posts proclaiming that they love running their business because it allows them to make money working part-time while selling products that they actually use.
A s a self-care staple, beauty treatments are essential to the mental health and wellbeing of people from all walks of life. Herein lie lucrative franchise opportunities for eager investors ready to run a beauty business from the comfort of their own homes. Studies predict that the beauty industry will expand to a market value of $805.61 billion by 2023. So if you love caring for people and providing them with a confidence boost, now is the perfect time to invest in beauty franchises. As technology evolves, the beauty industry is following, making franchising more achievable than ever before. To start your journey, here are a few beauty franchises that you can run from home in 2021.
W ithin the past year, the e-commerce industry has grown exponentially. Of course, this leaves potential investors wondering, is it still worth it to invest in a traditional brick-and-mortar franchise? The answer is yes. Brick-and-mortar franchising has distinct advantages that online franchise opportunities will never be capable of offering. Owning a conventional storefront allows you to service your customers in real-time and build a personal relationship that keeps them coming back. Even with online shopping, providing your customers with a fun, in-person shopping experience will always be in demand. If you’re looking at franchises for sale, it’s still worth considering the traditional route before hopping on the e-commerce bandwagon. Specifically, here are four benefits of brick-and-mortar franchising.
B y 2025, America will require a staggering 2.3 million new healthcare workers to care for the senior population. With this will also come the need for more senior care facilities. If you’re considering senior care franchising, starting your business now can put you in a prime position to take advantage of the coming boom. Owning a senior care franchise is a great way to make a meaningful impact on the lives of older people while securing your financial future. With strategic planning, a solid team, and a supportive franchisor, you can turn senior care franchising into a stream of passive income that keeps on giving. Here are a few tips to point you in the right direction.
T he franchise industry is stepping into the future. Currently, millennials are aged 25 to 40 and comprise over 28% of franchise owners. So what does this mean for franchising as we know it? Millennials look for very different qualities in the franchises they choose to invest in, and they possess a leadership style that contrasts that of prior generations. As they come into their own, millennials are rapidly reshaping franchise ownership with advances in innovation and technology, all while creating a sense of connectedness within their businesses.
If you dream of helping the elderly by owning a senior care facility, the opportunities are ample. In fact, the healthcare industry provides some of the most stable options for potential franchise owners. The percentage of older people in America is increasing every day, with experts predicting that the senior population will grow to 22% by the year 2050.
While everybody else is relaxing and partying this summer, you could be making extra income with the right seasonal franchise. For some franchises, the best time to start building your clientele is during the summer because they are only profitable when it’s hot outside. Each franchise has different start-up requirements, but there’s a lot more to choosing the right franchise than the cost. The franchise you choose must be in alignment with your skillset, knowledge, and personality. So, which of these best seasonal franchises is right for you?
Within the past year, mobile franchising has grown in popularity exponentially. For one thing, new investors realize that it’s much easier to succeed with a franchise than to start their own business from scratch. Add in the low start-up costs and flexibility of self-employment, and it’s easy to see why people are interested in this type of investment opportunity. However, there are two sides to every coin, and running a mobile franchise has a few pitfalls. It’s draining to be the only one in charge of your business, large or small. So, is running a mobile franchise right for you?
So, you’ve finally found the right franchise to meet your needs and aspirations. Congratulations! The next step in your journey is to build a team of dedicated and focused employees. In 2021, this can be daunting. In today’s era, anybody can apply for a job with the click of a mouse. It’s easy to become overwhelmed by the vast number of applications, along with the stress of interviewing each potential candidate individually. Luckily, we have a few tips to streamline your hiring process so that you find the right employees for your franchise business.
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Not every franchise opportunity requires long hours and your undivided attention. Semi-absentee franchise ownership is designed to allow you to earn extra money and create a growing enterprise while continuing your current career or focusing on your family. If you hope to grow your semi-absentee franchise, we’ve put together a few excellent tips to help you get the ball rolling.
If you are looking to invest in a new business model, you may be thinking owning a semi-absentee franchise is a win-win. You can invest your money into a business that comes with a limited time commitment and continue with your career. However, there are unique challenges that come with owning a semi-absentee franchise. Investing in a franchise is a critical business decision that shouldn’t be taken lightly. To help guide potential franchisees on their path to franchise ownership, we’ve brought together a list of the most common challenges that new semi-absentee franchise owners will face. This information will allow you to start on your journey armed with information to be successful no matter what type of franchise you choose to open.
A franchise can provide the perfect investment for a smart-minded entrepreneur, but how do you go about finding the right franchise? As of 2019, there were almost 800,000 franchise options in the United States alone. That’s close to a million different franchise opportunities. Finding the perfect opportunity to suit you and your financial endeavors can be complex and frustrating. Here are some tips on how to find franchise opportunities so you can succeed and grow your entrepreneurial dreams through 2025 and beyond.
2020 was devastating for everyone, with the pandemic impacting every corner of the globe. American businesses and industries got hit harder than anyone could have expected. In the franchise industry, many businesses thrived and even became essential. However, despite the financial difficulties, there is sunshine on the horizon. Industry experts predict that 2025 is the year to own a franchise. As the dust of the last four years settles, people are searching for wise investments to boost their revenue after facing some devastating losses. Plus, nothing beats the sense of pride you feel when you own a franchise. Here are the top 4 reasons why owning a franchise in 2025 is the best business decision you can make.
Becoming an entrepreneur can be an exhilarating experience. There’s nothing more rewarding than owning your own business. However, owning and operating a franchise differs in many ways from running an independent company. The responsibilities franchise owners face are unique because you benefit from working with an established brand instead of being an independent operation. Here, you begin with a proven business model that has gone through the trials and errors of business ownership and emerged victoriously. Success can be as easy as fulfilling the responsibilities of a franchise owner and demonstrating a passion for your new entrepreneurial path. Consider these everyday owner responsibilities to help you be successful on your new career path.
BBecoming a business owner is a dream that many people hold. When it comes time to decide what type of business you want to own, you should consider whether owning a franchise is for you. Buying a franchise gives you a proven and effective business model along with a credible brand, eliminating many of the risks that come with opening a non-franchise business of your own. But how do you decide which franchise to purchase? A franchise purchase is a significant decision that should not be taken likely. This is where a franchise business consultant comes in.
