Franchising may provide the best retirement plan

Have you considered your retirement plan yet, and is retirement even an option in your foreseeable future? The definition of retirement has certainly altered through the years, and with that, it has not only become less glamorous, but for some, a goal that seems likely unattainable. The word retirement often embodies a cliché and over glamorized vision of golf, tennis, and comfortable relaxation. However, the times of collecting a well-deserved pension and social security check, moving to a sunny and warm location, and living a comfortable life of recreation have nearly reached extinction.

retirement planAccording to an article on LinkedIn called Retirement Now vs. Retirement Then, as of 2016, “The highest possible monthly benefit for someone retiring at Social Security’s full retirement age was $2,787.80, or $33,453.60 a year.” This means not only can living strictly off Social Security not provide you the “cushy” retirement lifestyle you have always envisioned, but in most areas of the country, this income is barely livable, especially in a single-income household. Because of this, retirement no longer means no more work, but instead, different types of work, with the hopes it is flexible enough to allow for a slower lifestyle.

So why has retirement changed so much?

  1. Life expectancy has increased. When the average life expectancy was 70-75 years of age, retiring in your 50s or 60s was more reasonable. If you are lucky enough to be able to retire in your 60s today, your retirement could now last 20+ years.
  2. Pension plans have pretty much been eliminated from most jobs. This means that instead of relying on your employer to provide a plan for your retirement, the burden falls entirely on you and your savings. Considering the high cost of living, decreased salaries, and increased bills, saving is often very difficult or impossible for many within the workforce today.
  3. Economic instability. This has not only hurt employees because of the decreased benefits offered by employers, but it has also made the whole ideal of no income retirement unfathomable.

So how could franchising provide for a new ideal retirement plan?

  1. Create your own exit strategy! This is one of the main reasons why business ownership and franchising may be your best plan of attack to ensure retirement. You own your business, you are in control, and you create your success as well as your exit plan.
  2. Building a business from a proven and systematic business plan allows for you to eventually have this desired freedom and flexibility. If you follow the systems put into place by the franchisor, after putting in the initial hard work, you will setup a business that runs smoothly without you, eliminating the need for you to be involved in every decision and task.
  3. You will have an asset you can sell. When you are ready for retirement, as a franchisee you will now have a couple options, both of which can provide you with an enjoyable retirement.
    1. You can act as an owner only and step away from the active roles in the business. This will allow for the flexibility of a slower more enjoyable life, but also still provide income.
    2. You can resell your franchise and likely make a large profit, depending on how successful you have built the business. Franchise businesses are often easier to sell as well, because of their proven success rate, already established brand, and systematic approach to business.

Today’s retirement plan strategies are essentially entirely up to the employees themselves already, so why not be a business owner and truly create your own exit strategy, on your own terms? In doing so, you can not only build a better retirement plan for yourself and your family, but also help to ensure a better one for those who you employ. Although franchising comes with its risks and may be a large investment, when it comes to your future, it may be a risk worth taking, and an investment worth making. Can you imagine living out the ideal vision of retirement? What if we told you that it could still exist for you? Would you do whatever it takes to get there? By becoming a franchisee, you are investing in your future and the future of your family. A future that includes golf, warm and sunny locations, and flexibility!

At The Brothers that just do Gutters, our business model is laid out specifically to encompass a retirement plan. Our hopes, and vision for each of our franchisees is to see them build their business to a point where they, like Ken and Ryan (Brothers Franchisors), can replace themselves within their business with systems and people. By doing this, they can enjoy a life of flexibility and comfort, and create a plan for their future that includes retirement, the old-school way! Are you ready to invest in your future and begin to build a retirement plan on your own terms? Stop waiting! Contact Franchisor Ken Parsons today to find out more information on The Brothers that just do Gutters franchise opportunities!

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