Franchise System Trend: Older Generation Seeks to Become First Time Franchise Purchasers

In a recent article “Older Operators make a Mark on Franchisees” by Deborah L. Cohen she reports that there is a new,  fast growing trend that is starting to take place in todays world of franchised systems that is comprised of people between the ages of 40 and 55.  In fact, according to a franchise research firm FRANdata about 46 percent of people who have attended franchise expositions recently have been in that age bracket. 

Deborah L. Cohen’s article has many examples of, how she describes, “older operators who are becoming more typical at franchise systems ranging from fast-food chain to corporate cleaning services and retail outlets”.  Most of the examples in her article are of those who are in the 40 to 55 age bracket and were not previously entrepreneurs, in fact, the they are mostly of workers that were recently laid off of their jobs due to downsizing when the economy took a turn for the worst.  They decided they were done with all of the mergers and layoffs and decided that they were going to invest their money in something where they could own their own business but not be on their own and they found that comfort in a franchise. 

While buying a franchise may be an option for you if you were recently laid off or if you just want to own a business there are many things you should consider before buying a franchise.   In my blog post “Can (or even Should) you Buy a Business or Franchise to Replace a Lost Job?” I discuss questions you should consider before deciding to purchase a franchise if you were recently laid off of work.