Feb 15

Contribution from Callum Short, Founder of UK-Franchise.co.uk

Whether you’re 50 or 70, retirement isn’t always as it seems and it yields its own day-to-day grind which can often be described as tedious. Having retirement on your CV may not create the strongest interest in being hired for part-time careers, starting up your own company could very easily be too demanding and occupy too much of your time which you still want to dedicate to more activities of a leisure nature.

Despite part time careers and starting your own company being inconvenient and against your interests, there are other options. For decades franchising has been seen as a business opportunity which is perfect for the retired. What is a franchise? A franchise is a business model which prioritises scalability by selling the brand to individuals who often have worked in business in their past. The very fundamental structure of a franchise network creates a great platform for support, you work alongside other people in your position who have adopted a franchise brand and are working to progress their own individual slice of the franchise. There’s no marketing required on your part, no worries of failure and no chance of being on your own. Ultimately, the franchisor takes care of the sales while you as a franchisee take care of your own individual business. Run into a problem? No problem, you have a network of other franchisees who you can talk to and who will assist you in running your organisation, it is a mutual benefit.

Not all franchises are easy though. The old dogs of the industry such as the fast food restaurants and estate agents often have an initial demand to launch the business which can be extremely demanding and rather stressful. While it does have its benefits, these aren’t necessarily the franchises that suit the retired. Consider this however, if you’re someone who has an interest in charities and earning a passive income through local networking, a franchise such as Snackaid could be perfect for you. It provides you with all you need to start distributing snacked goods for retail outlets, earning a contribution for the Make-A-Wish Foundation and rewarding you generously for controlling the distribution and helping such a high-profile charity. To start such a Snack Aid franchise, it would cost a minimum of just £3,700 and could return profits of up to £30,000 annually.

The communal aspects of franchising also create a perfect network of support. You will be surrounded by other franchisees who are in or have been in your exact business position and are incentivised to support and assist you due to the shared success of franchise networks. If you had your own business, you might run into an issue and not know how to move past it. It could take up chunks of your capital and more importantly, your time. Yet, a franchise would bypass this scenario completely as other franchisees and headquarters support would only be an email or telephone call away.

Passiveness is always in the pipeline with franchising as well. When you’re retired, you don’t want to be working all the time. You want to have something to be responsible for and to work for, however, you also want to be able to sit back and watch your empire grow. Franchising enables through this. Through a proven business model and internally procured marketing/sales strategies, you will be perfectly able to leave your franchise to sustain itself while still receiving a pay check. It’s not a get rich scheme and it won’t happen overnight, but with the right franchise and the right management ethic, you’ll certainly be on track to achieve it.

Finding the right franchise is vital to your success, it must be relative to your career experience its demands must correlate with your interests. You don’t want to be taking on a franchise which requires a 40 hour work week if you’re in your requirement. A 4 hour work week seems more reasonable and we’ll help you find it.

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