Q: I am retired. Will my age count against me when buying a franchise?

Nigel Toplis
Managing Director, Recognition Express
A: The short answer is NO! I have recruited franchisees from their late 20s into their early 60s and frankly age is simply not an issue. However, what is important is the ability to perform – to have the energy, drive and ambition to give 100 per cent to the running of a business.

Businesses do not fail because the business owner is ‘too old’, nor do they succeed simply because the owner is perceived to be a young stallion!
Successful franchising is a marriage of two parties – with the franchisor bringing a brand, system, training, marketing, ongoing support to the relationship and the franchisees contributing their own business skills, ambition and desire and a genuine willingness to ‘work the system’.
There is a school of thought that says prospective franchisees of more mature years are more willing to follow the system and work in tandem with the franchisor than young prospects.

Age brings with it certain advantages – experience and maturity but also maybe a sense of purpose and a sense of stability – an understanding that this franchise purchase may be their last major ‘business/job’ decision– so they better make it work!

Peter Williams
Consultant
A: By no means need your age count against you. I am pleased to say that franchising doesn’t suffer from ageism in the same way as employment (you could say I am living proof of that!) and nor should it as we are all tending to live longer and stay fitter. There seems little logic in forcing retirement on those who have years of valuable experience behind them and a wealth of ability to offer, yet many employers continue to put good people prematurely out to grass regardless. This is another example, therefore, where franchising can be a preferred option and I encourage you to explore the possibilities. Given that age is not an issue, it follows that those of mature years should not expect special treatment and be generally up to the mark in terms of enterprise, enthusiasm and commitment.

You should also want to be a franchisee for at least five years (the typical term of a franchise agreement), or possibly longer, and you should make a point of mentioning this to franchisors in whom you are interested so that they are aware of your potential. Within such timescales, you might develop an excellent business and, by way of a resale, take a financially rewarding exit route that could enhance your ultimate retirement.