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Friday, October 01, 2004
Late Bloomers Buying Franchises
Entrepreneur magazine has a profile of older entrepreneurs who decide to buy franchises in their 50's and later:
"Don't assume 50-year-olds are past their prime - many are finding that the years after 50 are a perfect time to start a business, and buying a franchise is a great way to do that. Whether motivated by personal desire or out of financial necessity, these ambitious individuals are pursuing entrepreneurial endeavors in every imaginable field. Here's a look at several late-blooming entrepreneurs who purchased a franchise after age 50."
The article points out some of the reasons that older individuals are starting businesses. Today's older population is healthier and more active. Many of them expect to work longer rather than retire. And, as one entrepreneur in the article points out, starting a business or buying a franchise gives new meaning to your life.
Of course, some time ago we spotted this trend toward older individuals starting businesses. We call it the "Graying of Small Business" and we've written about it over at our sister site, TrendTracker.