Life is full of milestones and transitions that often prompt us to question our goals, plans, or even our identities. Some of those questions are existential: Who do I want to be at this stage of life? Why is my life unfolding the way it is? But some are just plain practical–and those are the questions that can tell you if it’s time to consider franchising.
How am I going to fund my retirement?
Franchising can be an excellent way to boost your retirement funding. Particularly if you have maxed out traditional retirement vehicles and still have money to invest, consider purchasing a franchise as part of your retirement plan. It can provide a steady stream of post-retirement income through business revenue. Plus, if you like being an active investor, franchising is a way to be more hands-on in generating your returns.
Will I be bored in retirement?
Particularly if you’ve had a busy, high-powered career, it’s natural to wonder how you’ll occupy yourself in retirement. For many former executives, a leisurely retirement can seem purposeless and unfulfilling. Franchising gives you a way to stay productive, use the skills and experience you worked so hard to earn, and maintain a healthy level of mental stimulation. But you can do it all on your own terms, so that you still have time for your loved ones, travel, or whatever else makes retirement feel like a reward.
Should I go back to the corporate world?
You may have left a corporate job to do non-profit work, taken time to care for a child or aging parent, or been pushed out by a layoff. Whatever the reason, if you’ve been out of the corporate sector and are now wondering whether you should go back, don’t forget to consider franchising. It can be a best-of-both-worlds way to be involved in business, but with more control and freedom than if you were working for someone else. Plus, the support that many franchisors provide can help ease the transition.
How do I leave something more meaningful than money?
If you’re a parent, leaving a legacy for your children is twofold. First, there’s your intangible legacy: the example you set with your character, the lasting lessons you teach your children, and the way your love leaves an imprint on their lives. Few parents would argue that this kind of legacy is the most important. But your tangible legacy is significant, too. If you’re in a position to pass down material wealth to your children, or you want to be, you may prefer to leave something more meaningful than money–something that helps to continue the values of your intangible legacy.
Franchising can be a way to do that. When you leave a franchise to your children, they have the option to continue in your footsteps–to continue your work and expand their understanding of business, hard work, and stewardship. Even if they choose to sell the franchise and pocket the cash, they will be left with your legacy of impact on the community and the lessons they learned as they watched you build and run your own business. That’s much more meaningful than a balance in a bank account.
Asking yourself the hard questions? Let me help you find the answers. Schedule a call to learn whether franchising is the right path for you and your family!
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