Retirees Buy Franchises, New Careers

February 20, 2009 by Mark | 0 Comments

CharlotteObserver.com:

Kathy McAvoy-Rogalski keeps her year-old business operating on a short leash, and that’s a good thing.
retiree

Operating a Fetch Pet Care franchise with husband James out of their home has proven to be a rewarding second career for the early retiree.

“It’s the one job where I can honestly say your clients are always happy to see you,” said the 56-year-old Yonkers, N.Y., woman.

Thousands of older Americans with an entrepreneurial bent have started new careers in recent years by buying small franchises in everything from beauty shops to home maintenance to tax preparation. The option is likely to draw more interest as baby boomers age and, in a bleak economy, get laid off.

Opportunities could be harder to come by in the recession. The nation’s more than 850,000 franchised businesses employed 9.8 million people and had estimated revenues of $839 billion last year, but those numbers are all expected to decline this year as the slump deepens.

Franchising offers the chance for additional income and a new direction for people in the latter stages of their working careers who either don’t want to retire or can’t afford to. Boosted by a brand name, training, advertising and an established business plan, a franchise can ease the struggle and risk of opening a business and still let you call some shots.

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