An entire generation has just started to retire and will continue to retire for the next ten or more years; we know them as the Baby Boomers. With this huge demographic beginning to settle into retirement comes special opportunities for both the retirees and franchise systems alike.
Baby Boomers are truly a special generation. They’re known to be hard workers, energetic, healthy and in a lot of cases, not quite ready to completely retire. As they close the chapter on their full time working years and settle in to a retirement mindset, that mindset may not be how we would normally view retirement; instead Baby Boomers are more likely to close one chapter only to open up an entire new opportunity or adventure; maybe a passion they’ve always dreamed of pursuing but never had the time, money or opportunity. For other Baby Boomers it may very well be a strong calling to “give back” and “make a difference”.
Because of these characteristics, Baby Boomers seem to be looking more and more to owning a franchise, and coincidentally, these character traits tend to make for great franchise candidates. Boomers tend to think through bigger decisions, like investing in their own business, more carefully, thoughtfully and slowly than other generations-as they should. Becoming a franchise owner in any industry is a huge decision and a responsibility that shouldn’t be considered lightly. Because Boomers are more cautious with their investment decisions, franchises are all the more appealing to them as they offer more stability than starting a small business all on their own.
Franchises are a safer bet because they already have an established brand, reputation, business model and resources that minimize risk while providing a proven track record. In order to be a potentially profitable owner, you must take the materials, knowledge and training given to you by the franchisor and implement them regularly and consistently. It’s hard work, but the rewards are beyond satisfying.
If you know a Baby Boomer who’s looking for their next adventure or career, or you, yourself are seeking to control your destiny and be your own boss, we encourage you to learn more about franchising. If the senior care industry is an area you’re interested in or passionate about, please feel free to view our Franchise Information Page, download more information with our Franchise Information Kit, or just give us a call: 1.866.985.5348. There’s always a FirstLight Home Care representative available to answer any questions you may have in regards to becoming a FirstLight Home Care franchise owner.