Over the past few years, the economic downturn affected so many people, including the baby boomer generation. Companies were trimming the fat from all areas, but the older and more experienced employees really felt the pinch. Some looked for employment, while others created their own path by opening a franchise.
Franchising is great for the baby boomer generation. Here's why:
- They have the right skills set-they have the right experience and skill sets from prior jobs. Essentially, they are giving themselves a promotion in lieu of being laid off, choosing to become a franchisee rather than remain a downsize.
- Convenience- Many baby boomers find it easier to pick up a ready-made recipe for success rather than starting their own. Statistics reveal 90% of new businesses fail within the first 5 years. Most older Americans in the second half of their careers aren't willing to bet their 401K against the odds.
- Motivation to be the boss- Many older folks used to do things "the way the boss wanted them." Nowadays, these folks feel a strong urge to be the boss and do them their way.
Story by: Nick Friedman of CNBC. To read the full article, click HERE.
At Security 101, let your dream of being your own boss become a reality. Start living today! For franchising information, please see our franchise brochure at discover.security101.com or call 1-800-261-2041.