Franchising for Over 50s – Kickstart your second career

Have you considered opening a franchise as an alternative to seeking a new role or part-time employment? Franchising is a great way to generate an income, build a saleable asset, and use the experience acquired in your first career. Franchise brands welcome those over 50 as franchisees, as they tend to be mature, experienced, and financially stable. For a retiree or someone taking a retrenchment package, franchising offers the benefits of lifestyle flexibility and more certainty than start-ups.

Many franchises are well-recognised brands that can work anywhere, which is ideal for someone wanting to relocate or change careers in the second half of life. You don’t necessarily have to be from a town to make a success of a coffee shop such as Naked Coffee. Similarly, experience in a specific sector, such as the building industry, can be employed successfully in a Universal Paints retail store in any location. Opening a Cash Converters hinges on people and business skills, and the brand has many opportunities nationwide.

There are also plenty of opportunities for those preferring to work from home. Franchises like Digit FMS, InXpress and The Alternative Board don’t require customer-facing offices or premises.

With Digit FMS, a keen interest in technology or the automotive industry is sufficient; the franchise system provides the necessary systems and expertise to generate multiple income streams utilising the technology.

The Alternative Board is the ideal franchise for individuals with corporate or business experience to coach other business leaders through its unique peer board format.

 InXpress, on the other hand, is a B2B service provider in the fast-growing field of e-commerce platform deliveries through courier services for SMEs.

To find the right fit, franchisees should consider the following factors:

·       Match skills and interests – If you have experience or interest in technology, seek out franchises with bespoke technology for their value proposition. If you are a people person, consider franchises where the personal touch is an advantage, such as funeral services.

·       Research the market – Ensure that your desired location has market appetite for the franchise offering.

·       Assess your own energy levels – Consider the required operating hours. If you are looking to reduce working hours, a B2B franchise will be a better fit than retail or hospitality.

·       Ensure you have enough contingency funds and savings. While the franchise investment may be clearly defined, the entrepreneur should have contingency funds available to provide for unforeseen expenses or a change in trading conditions.

·       Talk to existing franchisees – Getting input from existing franchisees of the brand is one of the best ways to gauge whether the franchisor is providing sufficient training and ongoing support.

·       Value alignment with brand and franchisor – The franchisor will be an essential partner in learning the ropes, and ongoing feedback and support. Hence, it’s crucial to gauge rapport and value alignment at the outset.

From people-focused businesses, such as funeral services, to technical products like fleet management, or retail businesses, franchising offers something for everyone.

To start your journey, here are some opportunities found on the SA Franchise Warehouse website.

Here is a spotlight on some of these opportunities.

Digit FMS – Specialists in electronic security and monitoring systems for fleet management and the monitoring of other assets. Ideal candidates have a keen interest in security technology, fleet management, or the automotive sector.

This is a work-from-anywhere opportunity. For more information and to apply,   click here.

Universal Paints – Specialist paint retailer focusing on the DIY and contractor market. Strong sales skills and a background in the building industry are beneficial. Unlike most franchise systems, there are no joining fees, royalties, or ongoing management fees. For more information and to apply, click here.

Cash Converters - This second-hand goods retailer has evolved to offer a range of products and services tailored to the changing personal and financial needs of its customers. With these multiple revenue streams, franchisees can be confident that they have the means to generate income consistently. People skills are an essential requirement in this business. Many franchisees have a tenure of over 20 years, and some are passing the baton to the next generation. For more information and to apply, click here.