I recently read an article by Anita Campbell in which she spoke about the demographics regarding people who are entering the world of business ownership and franchising.  There were some eye opening facts regarding the ages of first time entrepreneurs.

Anita quoted statistics from a November 2009 Bureau of Labor Statics study that showed, “The incorporated self-employment rate is four times higher among those aged 65 to 69 than among those aged 25 to 34—and a whopping 25 times higher than among those aged 20 to 24.”

There are a number of reasons this may be taking place:

  • Investing may be easier with the utilization of built up retirement funding
  • With grown children, the ability to save and gain necessary capital for start-up may be easier
  • Lay-offs – higher paid senior executives were greatly impacted during the economic down-turn – rather than going back into Corporate America, invest in yourself and your skills
  • Nearing retirement age, but still having the desire to contribute
  • Empty-nest syndrome – many mothers have more time on their hands and the ability to take charge of their time – with the battle to gain employment being an uphill one for many stay-at-home moms, starting a busy may be much more plausible

If any of the above scenarios sound familiar, I suggest you read the entire article, and perhaps consider franchising as an option.

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