Prior to the economic downturn, Eric Diaz was managing a department that handled futures systems for Merrill Lynch in New York, reports Reuters.
Today he’s a full-time pet groomer, riding around Hudson County, New Jersey in a tricked out Mercedes van replete with two 65-gallon water drums, a hydro tub and a host of shampoos, conditioners and other doggie styling aids.
Diaz is characteristic of a new wave of entrants into the world of franchised systems, the proven business ideas that after the expense of licensing fees, equipment and other costs, offer would-be entrepreneurs access to operational guidelines, well-known brands, marketing and a network of other franchisees they can turn to for support.
According to recent surveys from the franchise research firm FRANdata, the majority of people polled at franchise expositions who were seeking data about opening their own franchisees – some 46 percent – were in the 40-to-55-age bracket. The second-largest group, representing 28 percent of respondents, were entering retirement age at 55 to 70 years old, according to the firm, which surveyed hundreds of participants attending five expositions in 2008 and 2009.
Photo by Reuters.