The article discusses the growing number of franchises being opened in Florida by baby boomers who are not yet ready to retire and choose to invest in their own business. According to the International Franchise Association, franchises in Florida generate about $105 million within the private sector, and create more than 1.25 million jobs. A large number of these appear to be from the 50-plus group.
Siegelheim comments that he’s seeing more and more people over 50 invest their retirement benefit packages into franchises. He cautions that putting your future into a franchise can be risky business, and buyers should work closely with their accountant and attorney before signing any papers.
Still, he does not see the franchise boom ending any time soon. Even people already running successful businesses turn to franchising for more opportunity. It’s not slowing down at all.