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I’m over 50 and want to invest in a franchise. Would my age count against me?
Louise Harris writes:
Age is but a number - and that’s never truer than in franchising. There are so many different franchises that, while not all may be suitable, a lot would be.
The barriers presented will come from a franchisee’s own aptitude, skills, ability and, I must admit, physical capacity for the work in the instance of an owner operator-type franchise.
Age is much less relevant that an individual’s hunger to grow a business, ability with technology (since we didn’t have it in our youth), the ability to learn and adapt to a new environment and, in some instances, a specific level of fitness may be required. The lack of these attributes is not necessarily a function of age, but of experience, willingness and attitude.
When I am asked if someone is too old, this is my answer: it’s entirely up to you. If you feel overwhelmed or concerned, it’s probable that you won’t be happy long term, so perhaps look for an alternative.
Louise Harris is the former franchisor of Wilkins Chimney Sweep. She’s also been a franchisee and franchise induction and support training provider.
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Companies to Consider
National Property Auctions
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14-18% net profit
Depends on store turnover
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Up to £230,000
Yes via third parties, both bank finance and asset finance
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