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More Retirees Becoming Biz Owners
It was the noon hour, and Gary Duncan was on the second level of the store he owns with his wife, Sharon, when he saw a shopper and asked if he could help her.
“No, thank you,” she responded. “I’m just looking. This is my therapy.”
Frameworks Gifts & Interiors, 901 Old 63 N., is a great place for that. You can browse to your heart’s content, listen to lovely music, smell the candles and let the pressures of the day fade away. Gary and Sharon understand that, and it’s just the environment they hoped to create when they bought the framing and gift store six years ago.
But after 40-plus years in the plant genetics business, it’s hardly where Gary thought he would end up.
Gary and Sharon are excellent examples of a growing phenomenon in small business: the boomers who fail retirement and start new ventures to remain engaged and contribute to the vitality of their communities.
Those who study patterns in entrepreneurship tell us that this cohort is one of the waves of the future. Retirees these days are healthy, wealthy and wise. They’ve been there and done that, and they know where the potholes are. They typically have resources to invest in a new enterprise, and they have the energy and long-term vision to pull it off. They bring with them a lifetime of contacts, acquaintances and experiences. And they find true enjoyment in taking something and making it their own, giving it their own unique spin.
He says if he has any advice for entrepreneurs, it’s to do the due diligence. Research. Ask questions. Get advice. Make sure you understand what you’re getting into. Gary knew a lot more about the genetics of corn six years ago than he knew about Vera Bradley handbags. Now the pendulum has swung, and Gary says he just keeps on learning.
Photo by Frameworks.
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