Two years after retiring as a PETCO executive, Stephen Gartner sat on the stoop of his new home in Tennessee, bored with the prospect of yet another round of golf. He decided he needed a second career — and a haircut. Surely a trim was the easier proposition, but where? Gartner hadn’t seen a Great Clips outlet – his salon of choice during his corporate days in Chicago – within a hundred miles of their new home. He had never considered running a franchise before, let alone a hair salon, but felt he had stumbled onto something and decided to look into it. What he found was a second life as a franchisee.
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. Carry on reading.