Are you a retiree looking to buy a business franchise? Nowadays, retirees are healthy enough to take on the challenges of running a business. The benefits that the average person makes after retirement can help fund a franchise. Owning your own franchise could be a great option due to increased life expectancy, elimination of pension for most retirees, increased dependents and economic uncertainty. Also, there are many advantages to buying a franchise such as having an already popular name, proven business model and operational procedures, established marketing and supply route, ongoing business support and loyal customers, and not having to deal with all the stress of starting a business from scratch. Below is a list of the best franchises that are best suited for retirees considering all the variables.
Seniors Helping Seniors
This company runs a non-medical in-home service that is delivered by seniors in the United States. This franchise is ideal for retirees because it puts them in a familiar environment with people their age.
- Average initial investment – $114,088
- 5-year growth rate – 25 percent
- Total number of units – 278
Lawn doctors is a company that takes care of farms, gardens and lawns. The services it provides include fertilization, weed control, lawn aeration, tree and shrub care, mosquito and pest control etc.; and a one-time customer acquisition leads to repeat maintenance. Lawn doctors have over 525 locations in over 40 states. To attain this franchise, the following is required:
- Total investment capital – $101,890 to $115,940
- Minimum cash at hand – $50, 000
- Net Worth – $60,000
- Average revenue per year – $634, 278
iTrip Vacations is a rental and property management company that’s mission is to revolutionize the way guests book and use vacation homes. This is a proven model, and would give you the opportunity to enjoy state of the art systems and industry leading technology. This business is also good for retirees because they can run it while being at home.
- Minimum cash required – $110,000
- Total investment – $123,400 to $142,700
- Net worth required – $200,000
Super Green Solutions
Super Green Solutions in an energy saving business that takes advantage of large invoice customers, rebates and tax incentives to make a major financial impact, while working to protect the environment. The company focuses on creating and saving green energy, and is perfect for retirees that have a green building and energy saving background.
- Minimum cash required – $60,000
- Total investment – $60,000 to $65,000
- Net Worth – $50,000
Storm Guard Exterior Restoration
This company offers restoration services to buildings after damage from a storm. This business is ideal for retirees that are conversant with construction and real estate, and they should also be at home with building, roofing, siding, windows and gutter projects.
- Minimum requirement – $100,000
- Total investment – $169,400 to $295,100
- Net Worth required – $450,000
- Franchise unit growth rate – 36.4 percent
Cost Analysis Enterprises
This is an auditing company that provides cost reduction consultancy services. The company undertakes services in these areas; electric, natural gas, water/sewer, local telephone, long distance telephone, wireless, internet, data etc. This is best suitable for retirees that have backgrounds in accounting or auditing.
- Minimum cash to have at hand – $30,000
- Total investment – $7,500 to $29,000
Totally Nutz is a company that sells different varieties of roasted nuts. This is a family friendly company that would allow families to work at a variety of events and venues while providing a fun and exciting atmosphere. This is a great business for retirees because it gives them the opportunity to spend a lot of time with their families as well as being able to fund family vacations!
- Minimum cash to have at hand – $50,000
If you are a healthy and active retiree that feels like they just aren’t doing enough, you should definitely consider investing in a franchise. It saves a lot of hassle compared to starting a business from scratch, it will keep you busy and entertained, and it will help generate income. This may not be for every retiree especially if you’re supposed to be spending your days resting or doing minor muscle and brain toning jobs, but if you’re healthy and up to face the challenge, I suggest definitely giving it a shot!
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