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Explore a Franchise Option When Unemployment Strikes

When a pink slip arrives for senior executives, the terminated employee experiences a time of shock and disbelief. Many who brought home $100,000 in salary have shared this unexpected event to join the ranks of the unemployed.  To find the next step, you need to take a careful assessment of your situation. 

The reality picture is that a similar job will be hard to find.  There are far less $100,000 positions available today than 5 years ago. Applicants send out hundreds of resumes without generating very much interest.   

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More Seniors Buy Franchises

While retirement offers seniors the opportunity to enjoy more leisure activities, others are discovering that buying a franchise is a great way to make money and avoid boredom. The over 55-age group has increased franchise ownership by 40% over the last 6 years. 

The reasons for this increase include seniors who want something useful to do, while others need to earn additional income in retirement. 

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How Much Money Will I Make?

One of the first questions a prospective franchisee asks is “How much money can I make?” 

Some franchisors offer an earnings claim with the disclosure documents. These are carefully prepared by lawyers and are hard to interpret. They are a useful tool, but not the best source of information. 

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What Do I Get in Exchange for Royalty Payments?

Every franchise agreement requires that the franchisee pay the franchisor a royalty payment. Many ask, “Why should I turn over my hard earned money to someone else?” Good question. 

First, you receive ongoing marketing support. Consider the costs of doing your own ads. Good ads require money to design and produce. Targeting the right customers is also hard.  Do you have this expertise? Even if you do, would you rather spend your valuable time designing ads or connecting directly with customers? 

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