Fact is you’re never too old or too young to pursue your dream of leveraging a business to accomplish your income and lifestyle goals.
Baby Boomers are people who are between 52 and 70 years old in 2016, according to the U.S. Census Bureau.
So many Baby Boomers are choosing to prolong their careers because they want to keep busy.
Retiring makes you leave the workplace behind and your social connections. For many, employment is an important part of their identity that provides financial and social benefits that could be lost when you exit the workforce. Many do not want to take the considerable amount of effort to create and maintain a new social network.
A great option for an alternative career for Baby Boomers is entrepreneurship through franchising.
According to the Insured Retirement Institute's Boomer Expectations for Retirement Report, approximately 35 Million Boomers lack any retirement savings today, a statistic that appears to be getting worse. Furthermore, in 2016 only 24% of Boomers are confident they will have enough retirement, versus 36% in 2012.
Consequently, the lack of savings for retirement forces boomers to rely on other sources to fund their retirement. It’s a scary thought for many. Especially since 59% of Boomers expect Social Security to be a major source of their income during retirement.
Due to the lack of savings needed to retire, so many boomers have turned to a new type of retirement. Many want to leave the hustle and bustle of the corporate world. Some of which is forced due to downsizing. When older workers are downsized, it can take nearly twice as long for them to find new jobs.
Baby boomers are increasingly starting their own businesses where they can be their own boss and have the lifestyle they want while still generating enough income to sustain them through the years.
Many baby boomers have embraced franchising as the chance to start a business without having to build it from scratch. Franchising can be a great alternative if you want to have some guidance in starting your own business.
Being a Justin’s Barbershop franchise owner is a great career that can help you to pursue a passion, work on your own terms and continue to create wealth for yourself and your family.
You don’t have to be a barber or know the industry. You hire people who do.
As a Justin’s Barbershop® franchisee, you’re in the business of growing your own business. We teach and train you and your staff everything you’ll need to know for running a successful Justin’s Barbershop® franchise.
Author: Cheryl Hutchinson, Director of Franchise Administrations
JB Franchise Group, LLC