From hair salons to real estate firms, fast food chains and interior decorators, franchisors are reporting a surge in the percentage of older owners in recent years – at Great Clips alone, the number of owners over 50 increased by more than 15% last year. Today’s 50-plus Americans are wealthier, healthier and more active than ever before, experts say. They also have better credit and are more qualified to run a business.
There are a number of reasons to choose any particular franchise, including the opportunity to turn a lifelong interest like wine into a Vino 100 operation, for example. Franchises often require no experience in the field and the franchisor is with the franchisee every step of the way.