Why Baby Boomers are making franchises a part of their retirement plans
“Jerome Pulcine had an eye to retirement last April when he bought the rights to convert his existing decorating business into a franchise and hold the master franchise rights in Ontario for Decorating Den Interiors.
He is part of a trend being seen in Canadian franchising. Baby Boomers are increasingly buying up franchises or considering buying some type of business to shore up their financial plans for retirement.”
Many pre-retirees are being forced to retire early making franchising a viable option for their own retirement planning. This type of business is seen as less risky due to all of the systems and support being already up and running.
“A TD Canada Trust survey found 54% of Baby Boomers polled have or are considering starting a business, from consulting firms to buying a franchise. A recent CIBC report found a record number of Canadians in general started their own business in the last two years, with those older than 50 comprising about a third of the new enterprises.”
From an article by Derek Sankey | Dec 31, 2012 10:39 AM ET in the Financial Post