You’re 50. You’re Downsized. Now What?
At FranNet, we believe franchising makes sense no matter what stage in life you find yourself. As you may have witnessed yourself, the job market no longer provides the long-term security it once offered. Previous generations grew accustomed to a certain career and the length of time they would be in that job — this is now less of a reality than ever before.
One of the things to consider in a life or career transition is that people are living a healthier lifestyle than ever before. This adds to longevity. People are living longer lives today and perhaps a little more willing to make changes in their lives. So with 50 being the new 40, 40 the new 30, and so on, how can you plan for the long-term?
Think about it—if you’re downsized around the age of 50 and expect to live just the national life expectancy, that’s nearly another 30 years of your life you’ll need to account for. Are there companies out there clamoring for a 50-something former corporate person? What will you do with yourself? Many are turning to small business ownership and franchising. And there’s even a term for it. It’s called your “Encore Career.”
Encore careers are a financial necessity for some individuals—but not everyone changes course for this reason. Some interested parties are in it for the lifestyle change business ownership can bring. And at FranNet, you have a near limitless supply of opportunities from which to choose.
If you’re at a certain stage in your life — let’s just say middle-aged — you might be surprised at how much information and how many programs are available to help you begin an encore career of your own. The Small Business Administration (SBA) even has specific programs geared to assist. Furthermore, to draw attention to the growing phenomenon, they recently began promoting the month of April as “Encore Entrepreneurial Mentor Month.” According to the SBA’s research, there is more franchise interest in the 45-60 age groups than the 20-30 age brackets.
If you feel like you fit the profile in this week’s blog title, you are certainly not alone. According to the AARP, over 75 million Baby Boomers are above the age of 50 and fast approaching retirement scenarios. According to their research, over half have shown some form of interest in an encore career — with a majority hoping to give back to their communities. Sound familiar? A franchise or small business ownership in your local community can go a long way toward establishing an exciting encore career for you and your community.
There’s never been a better time for you to find an opportunity through an encore career. If you make up your mind to do something about it, FranNet is here to help. Find out how you can become vested in an encore career of your own today!
FranNet is North America’s most respected leader in matching individuals with franchise ownership opportunities. Founded in 1987, FranNet has more than 100 experienced consultants across the United States, Canada, Germany and the United Kingdom. FranNet uses a proprietary profiling and consultative process to determine a business model unique to each client’s goals, skill sets and interests, and has matched thousands of prospective business owners to rewarding small business franchise opportunities. Based in Louisville, Kentucky, FranNet has been recognized by Inc. magazine as one of the fastest growing private companies in America for the last five years.