MENU
Franchise - Find franchise Opportunities in the UK, Point Franchise
0
Empty
basket
  • Home
  • Account
  • Franchises by Region, County or City
    • Franchise opportunities by Region
    • Franchise opportunities by County
    • Franchise opportunities by Town / City
  • Franchises by Sectors
    • Business & B2B Services
    • Car & Automotive
    • Cleaning
    • Estate Agency & Property
    • Finance
    • Food
    • Franchise Services
    • Gym, Sport & Beauty
    • Home Based
    • Home Improvement & Construction
    • IT, High-Tech & Online
    • Master Franchise
    • Personal & Home Care Services
    • Pet
    • Restaurant, Coffee Shop & Pub
    • Retail & Stores
    • Travel & Leisure
    • Van Based
    • All sectors and industries
  • Franchises by Investment
    • Low-cost franchises
    • Franchises under £10K
    • Franchises under £20K
    • Franchises under £30K
    • Franchises under £40K
    • Franchises under £50K
    • Franchises under £100K
    • Franchises under £150K
    • Franchises under £200K
    • Franchises over £200K
  • Franchise Directory
  • Franchise Opportunities
    • Best Franchises
    • Most Profitable Franchises
    • New Franchises
  • Franchise News & Articles
    • Franchise News
    • Franchise Articles
    • Dictionary
    • Interviews
  • Franchise Experts
    • Latest articles from our experts
    • Our experts
  • Franchisor Area
    • Get your franchise listed for free
    • Advertise
  • Articles
  • Trends
  • Business/ Franchise Trends
  • What Older Franchisees Can Learn from the Forbes "50 Over 50" List

What Older Franchisees Can Learn from the Forbes "50 Over 50" List

Share:
Published on 25/06/2021 16:00:00

In and past your 50s, you’ve come a long way. And you’re equipped, as a result, with the skills and experiences that you need to accomplish just about anything. Including a career change. Here’s what older entrepreneurs can learn from their counterparts.


Life doesn’t end at 50. A new adventure could be just around the corner, and that adventure could well be in franchising. The Forbes “50 Over 50” list collates the experiences of 50 entrepreneurs running the show in their 50s. If you’d like to be doing the same, the franchising industry welcomes you and your invaluable life experience. Get inspired by the powerful advice of successful business people, from Kamala Harris to Nancy Pelosi.

Becoming a franchisee later in life

Many shy away from starting a franchise in later life, put off by the thought of a high risk investment, or a job with incredibly long hours. But the truth is, franchising is extremely dynamic, and not that risky. There are so many opportunities out there that you’re bound to find the right one for you. You could franchise part-time, or make a low-cost investment. 

At any age, franchising can offer flexibility, challenge and profit in equal measure. Arguably, making a career pivot to franchising in your 50s is a great idea, because:

  • You’ll know yourself well enough to make the right investment for you
  • You won’t want to, or need to, waste time guessing at a formula for success
  • You’ll be able to fill your time on your terms 
  • You’ll have plenty of life experience to inform your business moves
  • You’ll have a good network of friends, family and professional connections to support you on all sides

You can experience tremendous joy and fulfillment during the process of "reinventing" yourself later in life. [...] All you need to do is take the time to really think through what you want out of business ownership and then investigate all opportunities carefully to make sure you select one that provides what's important to you.

– Jeff Elgin, Entrepreneur


>> Read more:

  • Ready for a Career Change? Check Out These Five Top Franchise Opportunities in the UK
  • Career Change: Start a Fresh Career with a Franchise
  • Fed Up With the 9-to-5 Perhaps Starting a Franchise Business Is Your Best Next Career Move

3 “50 Over 50” top tips for older franchisees

These inspiring, business-minded entrepreneurs don’t let anything stop them from achieving their goals, including age. It’s more than possible to make a late stage career change - it could be a great idea. And if you’re thinking of doing it - of taking that leap and becoming a franchisee, here are three top tips to hold onto...

1. Define your own abilities and capacities

[Do] not be burdened by other people's limited views on [your] capacity based on who has historically done what
– Kamala Harris, Vice President of the USA

Only 1 in 3 UK entrepreneurs is female, equating to a gender gap equivalent to 1.1 million missing businesses [HM Treasury, Rose Review of Female Entrepreneurship 2019]. The number of women in business is growing each year, but some still see franchising as a man’s game, which isn’t accurate at all. Historically, men have dominated the business world, but change is happening right now, and the only person who can define your limits, female or male, is you.

Franchising is particularly ahead of the curve - 65% of people employed in the franchising industry are women [British Franchise Association]. Whether you’re a woman in your 50s looking to break into the business, or a man in your 50s building a team of employees, you should know that women succeed in business for a number of reasons, including organisational and multitasking skills, and great attention to detail.

2. Be confident, and accept the unknown nature of tomorrow

You don’t know what’s around the corner, so just be confident in who you are [...] and that you have a vision and you have a plan, and you will succeed.

– Nancy Pelosi

Nobody knows the future, and that’s the honest truth. You can project and plan, but you can’t truly know what’s coming next until it arrives. That means that as a franchisee, you’ll need self-confidence in order to succeed. 

Thankfully, self-confidence comes with knowing yourself, and knowing yourself comes with age, time and experience. By your 50s, you should have all the inner fortitude that you need to succeed in franchising. Cultivate continued confidence in your abilities as a franchisee by:

  • Not comparing yourself to others
  • Taking practical steps to address insecurities when they arise
  • Learning to set boundaries and say no when you need to
  • Connecting with your network and sharing with other franchisees
  • Working with an experienced mentor to continuously grow and develop

>> Read more:

  • Franchising 101: The Complete Guide to Franchise Costs in the UK
  • Franchising 101: How to Buy a Franchise Business in 10 Steps
  • Franchising 101: The Official Franchise Start Up Checklist (Part 1)
  • Franchising 101: Top 5 Qualities of a Franchisee
  • Franchising 101: 6 Tips for Building Customer Loyalty Through Marketing
  • Franchising 101: The Pros and Cons of Franchising Your Business
  • Franchising 101: 6 Top Contributors of Franchise Failure

3. Value all you’ve learned, and understand others better for it

I feel a lot more wise than 10/20 years ago. I’ve seen a lot more, the experiences are rich and deep. [...] When you get to this point in your career and life, I think you just have a better understanding of people, what they go through, the trials and tribulations.

– Kim Ng 

Understanding other people is one of the biggest benefits of experience. When you live your own experiences, you gain greater empathy for those of other people. This will be valuable as a franchisee in two different directions:

1. You’ll be able to understand and provide for the needs of your employees.

2. You’ll be able to relate to and provide for the needs of your franchisor.

The franchisor-franchisee relationship is crucial to franchise success, as you might expect. If you can enter into the relationship with compassion, understanding and shared points of experience, you’ll be able to cultivate a strong working relationship, allowing you to:

  • Resolve problems quickly 
  • Communicate clear expectations
  • Ensure that both parties feel respected and valued
  • Guarantee the future success of your partnership
  • Improve and evolve with time and honesty

It’s never too late to become a franchisee

It’s never too late to become a franchisee, and hopefully, these wise words have shown you that. Change your career today and become a franchisee. You can browse a huge range of franchising opportunities, high and low cost, in a huge range of sectors, via Point Franchise’s UK franchise directory.

Cara Squires, Point Franchise ©

Mail Boxes Etc. franchise Mail Boxes Etc.
Min. investment £25,000 +VAT
Business & B2B Services
Request
information
EweMove franchise EweMove
Min. investment £10,000
Estate Agency & Property
Request
information
Hub Care Support franchise Hub Care Support
Min. investment £20,000
Personal & Home Care Services
Request
information
Full Circle Funerals Partners franchise Full Circle Funerals Partners
Min. investment £20,000
Personal & Home Care Services
Request
information
My Lawn franchise My Lawn
Min. investment £14,950
Personal & Home Care Services
Request
information
These articles may interest you

Four Unexpected (Yet Successful) Franchise Opportunities That Emerged in 2020

After so much change, financial hardship and unpredictability, 2021 [...]

Article published on 26/06/2021 16:00

Why Running a Franchise Is Really No Different Than Playing Football

There are so many different analogies out there, describing the [...]

Article published on 18/06/2021 11:06

Five Reasons Why the End of the COVID-19 Pandemic is the Perfect Time for a Career Change with Franchising

The COVID-19 pandemic has been a turning point for many people. Some [...]

Article published on 16/06/2021 16:00

London’s premier Franchise Exhibition is back!

The British & International Franchise Exhibition returns to Olympia [...]

Article published on 31/05/2022 14:00
MARKETING AND COMMUNICATIONS

Top 4 Frozen Yogurt Franchises in the UK

If you’re a business-minded entrepreneur with an undeniable sweet [...]

Article published on 27/04/2022 16:00
MARKETING AND COMMUNICATIONS

Q&A: Does Street Greek Franchise in the UK?

If you’re a feta-loving, souvlaki-scoffing Greek food connoisseur [...]

Article published on 26/04/2022 10:00
BRAND FOCUS
Did you enjoy this article? Please rate this article
Be the first to rate this article
Newsletter Envelope

Did you enjoy this article?
Subscribe to our newsletter!

Receive up-to-date industry news, in-depth articles and the newest franchise opportunities directly to your inbox.

0 Comments

Still no comment for this article. Be the first to publish a comment!

Post a comment

Characters remaining: 250

Top 5 recruiting sectors
  • Gym, Sport & Beauty Franchises
  • IT, High-Tech & Online Franchises
  • Restaurant, Coffee Shop & Pub Franchises
  • Retail & Stores Franchises
  • Van Based Franchises
Top 5 franchise opportunities
  • Franchise ActionCOACH ActionCOACH Franchise
  • Franchise GoliathTech GoliathTech Franchise
  • Franchise Jackson Fire and Security Jackson Fire and Security Franchise
  • Franchise Party Tent Company Party Tent Company Franchise
  • Franchise RE/MAX England & Wales RE/MAX England & Wales Franchise
Top 5 recruiting cities
  • 1 Birmingham
  • 2 Bristol
  • 3 Glasgow
  • 4 Leeds
  • 5 Manchester
Franchises by
minimum investment
Low-cost franchises Franchises under £10K Franchises under £20K Franchises under £30K Franchises under £40K Franchises under £50K Franchises under £100K Franchises under £150K Franchises under £200K Franchises over £200K
Latest News
  • Greensleeves - LIMITED TIME SPECIAL OFFER: Greensleeves will pay all...
  • Nationwide Cleaners - A profitable franchise from anywhere you wish with...
  • Laser Clinics - Phenomenal launch caps lifelong dream for Pam
  • TaxAssist Accountants - TaxAssist Accountants growth guru, Mark Fordham, helps...
  • Coffee-Bike - Coffee-Bike’s newest franchisee takes us to Scotland!
Newsletter Envelope

Did you enjoy this article?
Subscribe to our newsletter!

Receive up-to-date industry news, in-depth articles and the newest franchise opportunities directly to your inbox.

Find your franchise
  • UK Franchise Directory
  • Best Franchises
  • New Franchises
  • Most Profitable Franchises
  • Dictionary
  • Interviews
  • Checklist
Our top guides
  • Franchise for Sale
  • Franchise Definition
  • Starting a Franchise
  • What is a Franchisee?
  • What is a Franchisor?
  • Franchise Agreement
  • Franchise Shows and Exhibitions
Are you a franchisor?
  • Advertise your franchise with us
Subscribe to our newsletter
Useful links
  • About us
  • Privacy policy
  • Sitemap
  • Contact us
  • Consent notices
  • Terms and conditions
  • Disclaimer
  • Our writers
Follow us
Infopro Digital
✕
point franchises newsletter

Keep up to date with the franchise industry