Many middle-aged people are losing their jobs as a direct result of the economic downturn,†says Nick Strong, managing director of Select Your Franchise.
“These people are, on the whole, hard-working, intelligent and motivated but often discover it’s hard to find a new job simply because of their age.â€
The good news is that franchise businesses welcome mature applicants. In fact, more than 70 per cent of new and existing franchise businesses in the UK are owned and operated by people aged 40 or over, points out Strong.
Why do older people do so well in franchising?
“There are a number of reasons,†says Strong. “The key ones are that people in middle age are often good managers with years of experience which serves them well when setting up on their own.â€
In simple terms, they can be better equipped to deal with the problems of buying a franchise and running it successfully.