It’s widely agreed that your 30s are some of the best years of your life. They’re the years that you really get to know yourself and what you want. If you’re looking to make a career change in your 30s, why not consider franchising?
How do you make a career change successfully in your 30s? Franchising. This growing, hugely varied industry is full of incredible investment opportunities that will offer you a low-risk, high-reward alternative to starting your own business from scratch. If you’re interested in running a franchise in a sector of your choosing, following the proven business model of your franchisor all the way to success, keep reading.
Franchising as a career change
The average person in the UK changes their career five to seven times across the course of their working life [GoRemotely]. It’s no surprise, then, that many people in their 30s are currently considering a career change. If you’re one of these people, franchising could be the answer. A career as a franchisee could be a fantastic and largely fool-proof way to reinvent yourself and your future. Franchising comes with many benefits, such as access to:
- Training and support
- Flexible working hours
- Help with marketing and advertising
- Expansion opportunities
If you're contemplating how to make a career change in your 30s, you should:
- Identify your skill set - What experience do you have that will be valuable regardless of your role? What transferable soft skills do you possess?
- Ask yourself the right questions - What type of career will you find fulfilling in the long term? What would you like to be earning? What would you like to be doing each day?
- Do plenty of research - What can you find out about each opportunity? Which sources can you turn to once you’ve found everything you can online? Can you reach out, for example, to current franchisees within a franchise that you’re interested in?
We spend our 20s working our way up, slogging it out [..], but when 30 comes knocking, the chances are you’ve changed. Your goals and aspirations have moved in a different direction. You’re no longer the fresh-faced 21-year-old that pushed and pushed to get you where you want to be – and you can’t stop thinking about packing it all in and trying a career change at 30.
>> Read more:
Five advantages of franchising in your 30s
1. All the training and support that you need is readily available to you
The training you’ll receive as a franchisee is one of the biggest advantages at your disposal. Even if all your business experience is in a completely different sector, many franchisors will be willing and open to retraining you if they feel you’d be a good fit for the business. Having made your initial investment, you’ll also be entitled to an extensive amount of support, from set-up and fit-out help to advertising and marketing assistance.
2. Franchising comes with long-term career potential
Running a franchise in your 30s is a smart business idea, as your role will continue to grow and adapt as you do. Franchising provides long-term potential through expansion. Multi-unit franchising, for example, is a popular choice for an established franchisee, giving you the opportunity to grow your business empire into several different units within a defined geographic area.
A next step like multi-unit franchising will be challenging but rewarding, and will give you something to work towards as you continue to gain experience. With 18% of franchisees under the age of 30, and around a third of franchisees owning and running multiple units, there’s definitely room for you in the £17.2 billion franchising industry [British Franchise Association].
>> Read more:
- Franchising 101: The Official Franchise Start Up Checklist (Part 1)
- Franchising 101: The Official Franchise Start Up Checklist (Part 2)
- New Year, New Career: No Better Time Than Now to Start a Franchise Today
- Franchising 101: 8 Signs You're Ready to Start a Franchise
- Starting a New Business Doesn't Always Lead to Immediate Success: Here Are 5 Ways to Change That
- It's Never Too Late to Start a New Business
3. The franchisee role is flexible, and can often be structured to suit your lifestyle
In 2019, the average age at which mothers gave birth to their first child was 28 [Statista]. This statistic demonstrates just how many people in their 30s have young children. Parents of young children don’t want to be tied to their desks, missing important moments, and fortunately, many franchising opportunities offer flexibility of working hours to franchisees (within the limits of the franchise agreement, of course).
4. Risk is reduced within the franchise business model
A lot of people [in their 30s] are more likely to be married with young kids, so there’s more financial strain and a greater chance they might be the only breadwinner in the family. That’s why people who may be of an entrepreneurial mindset in their 30s do end up putting it off until their 50s, when they are more established.
—David Miles, Federation of Small Businesses
Taking risks in your 30s isn’t easy,especially if you have younger children to care for and prioritise. That’s why franchising is perfect. Becoming a franchisee is one of the lowest risk investment options out there. In 2018, 93% of franchisees claimed profitability, and fewer than 1% of franchise units closed citing commercial failure [British Franchise Association]. With a proven business model to follow and a customer base already established, following the path to success should be simple as a franchisee.
5. Franchising is an exciting, energetic challenge
Running your own business takes a lot of energy, and comes with a lot of challenges. If you’re in the prime of your life, and you’re on the lookout for a new adventure, why not become a franchisee? With stamina and energy on your side, you’ll be able to put in the hard work and grow a profitable franchise business. By the time you’re older, and looking to relax into things, you’ll have the capital to hire some employees, sit back and cruise.
Become a franchisee in your 30s and find professional and financial success
Making a career change can be difficult and confusing, but also exciting and rewarding. If you’re looking to mix things up in your 30s, franchising could provide you with a new challenge and a high level of financial security. Explore a wide range of investment options via Point Franchise’s UK franchise directory.
Lily Sweeney, Point Franchise ©