{"id":9891,"date":"2015-01-29T16:32:15","date_gmt":"2015-01-29T21:32:15","guid":{"rendered":"https:\/\/www2.franchisegator.com\/articles\/?p=9891"},"modified":"2022-08-04T17:08:19","modified_gmt":"2022-08-04T21:08:19","slug":"mid-life-hurdles-taking-control-of-your-career-12051","status":"publish","type":"post","link":"https:\/\/www.franchisegator.com\/articles\/mid-life-hurdles-taking-control-of-your-career-12051\/","title":{"rendered":"Mid-Life Hurdles: Taking Control of Your Career"},"content":{"rendered":"

Middle-Aged, Former Execs-Turned-Franchisees Fast Becoming a Trend<\/h2>\n

An interesting development in the business world has been the trend of middle-aged, middle-management executives making mid-career corrections and investing in a franchise business. Some make these investments out of necessity (having been downsized); others invest proactively (as a hedge against being downsized). The common denominator is that these business executives have come to the conclusion that they would rather follow an owner\/operator business model than stick with the traditional paid worker\/manager model.<\/p>\n

Another interesting trend is the level of business acumen many of these new franchisees bring to their respective investments. Franchisors used to sell a franchise to just about anyone that could write the check, providing them with some training and guidance, and wished them well. Franchisors these days approach a potential franchisee as a business investment, with all of the associated long-term gain. A candidate\u2019s business background, experience and passion are as much a consideration as being able to write a check (although at some point, every potential franchisee needs to have a serious internal review of their financial situation).<\/em><\/p>\n

What is behind this growing trend?<\/h3>\n

Is the answer as simple as older executives having accumulated enough savings to invest in a franchise? Or have we finally reached a place in our society where well educated, middle-aged executives have come to realize that you do not always have to work for one company, get a pension and retire to be happy. That model may have worked for your parents, but in today\u2019s ever-evolving, techno-centric, capital-driven world where you\u2019re only worth as much as the next wonder-kid coming out of school; well-educated, experienced business executives are realizing that it\u2019s OK to take control of their lives and their livelihood.<\/p>\n

More to the point, a large majority of new franchisees are seeking to build their own business while hedging their investment by using a proven business model often found in the franchising model. Available data appears to back up this new trend; in a recent survey, about 50 percent of Australian men aged between 30 and 45 are considering a career change; and a full 23 percent would like to run their own business. Another recent report observed that older Americans are becoming a faster-growing segment of those buying franchises. The percentage of people 55 and over, and are franchise owners, has risen from 20 percent in 2007 to 28 percent\u2014a 40 percent increase<\/strong>, according to Franchise Business Review<\/em>.<\/p>\n

Is franchising a natural stage of development for some corporate refugees?<\/h3>\n

Perhaps. But more importantly, is it right for you? Knowledge is power, and educating yourself during the franchising process is probably the most important investment you make for yourself.  As a franchise coach and author of the bestselling book, The Educated Franchisee<\/a>, I often coach people regarding what questions to ask.  There are numerous variables to consider when looking for a franchise business \u2013 but a good place to start is by asking: is franchising right for me? Working with a franchise coach and\/or consultant can help identify your strengths and weaknesses and guide you towards a good fit, both financially and philosophically that will meet most of your long-term goals.<\/p>\n

Experienced executives have accumulated an incredible wealth of real-life experience and many of those skill sets transfer perfectly into business ownership. Sometimes a mid-life adjustment is just what the doctor ordered \u2013 it\u2019s also a good way to tackle life\u2019s unexpected hurdles head-on.<\/p>\n","protected":false},"excerpt":{"rendered":"

Middle-Aged, Former Execs-Turned-Franchisees Fast Becoming a Trend An interesting development in the business world has been the trend of middle-aged, middle-management executives making mid-career corrections and investing in a franchise business. Some make these investments out of necessity (having been downsized); others invest proactively (as a hedge against being downsized). The common denominator is that … Mid-Life Hurdles: Taking Control of Your Career<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":9892,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[],"class_list":["post-9891","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-editorial"],"yoast_head":"\nMid-Life Hurdles: Taking Control of Your Career - Franchising Blog<\/title>\n<meta name=\"description\" content=\"An interesting development in the business world has been the trend of middle-aged, middle-management executives making mid-career corrections and inv\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.franchisegator.com\/articles\/mid-life-hurdles-taking-control-of-your-career-12051\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mid-Life Hurdles: Taking Control of Your Career - 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