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Last week, we offered advice to young graduates who were considered starting a career in franchising. At the same time, it’s interesting to see that, as the economy declines, baby boomers are also turning to franchising for career stability.

This is an interesting trend that is not purely a by-product of the economic downturn. Franchising has a timeless appeal to middle-aged people who have a spent their careers working up the business ladder. Franchising allows them sought-after control in running an operation combined with the unflinching support of the franchisor.

Franchising becomes even more attractive to people in this economic climate because, unfortunately, some people can no longer afford to retire. With a bold range of different opportunities, franchising provides people with a chance to custom-tailor their workload in line with their own desires and time constraints.

Seniors who’ve turned to franchising are profiled in this recent story. There are interesting voices, including Kathy McAvoy-Rogalski, a 56-year-old New Yorker who’s found success as a dog-walking franchisee after taking a buy-out from her job in the pharmaceutical sector.

“For retirees that are active, that like walking or love animals, it’s the perfect way to earn some extra money,” she said.

Franchising can offer up remarkable opportunities. People who’ve spent their life building up a range of skills and interests are discovering that their golden years needn’t be a time to solely to ponder retirement. Thanks to a franchise opportunity, they can be the beginning of an exciting second career.

Explore the Franchise Direct website for the franchise that’s perfect for you.

A common question that many visitors to Franchise Direct ask themselves as they consider taking the plunge and purchasing a franchise is: do I have the personality to be a successful franchisee?

For many, it’s a ‘chicken or the egg’ question. You won’t really know if you will be  successful at running your own franchise until you actually purchase one. And, even though you will be investing in a proven business plan, much of your businesses success will depend on our ability to become its catalyst.

Franchise Direct’s CEO Sean McGarry weighed in with his feelings on what makes a successful entrepreneur in a recent edition of the Business Insights video series.

Interestingly, some analysts feel that many of the traits people attribute to successful business people can be counter-productive for entrepreneurs. Thus, career coach Dr. Steven Berglas recently introduced the world to the Humpty-Dumpty entrepreneur, a business person who’s destined to failure.

Dr Berglas identifies the following two traits to identify Humpty-Dumpty entrepreneurs:

Workaholism: The desire to work ceaselessly might be a prerequisiti for some bosses, but Dr Berglas considers it a failing in entrepreneurs. He feels people who are solely driven by their work 365 days a year do so to purposely evade social contact, and the best entrepreneurs that he knows are all ‘affable charmers’. Successful entrepreneurs, it seems, also have the ability to switch off and enjoy life outside of work.

Narcissism: Dr Berglas feels that all entrepreneur should possess some sense of humility, and small-business owners driven by a sense of their own greatness are doomed for disaster.

Dr Berglas also worries for “the person who thinks, ‘I made a fortune in my previous career and now I want to buy a fledgling business so I can run the show.’”

The most important thing to do before investing in a franchise, it seems, is to take a long, hard look at yourself and try to understand what’s driving your ambitions to becoming an entrepreneur. Your ability to work with others, as well as to lead, will determine your future franchise success.

Buying a franchise for sale is one of the most important and pain-staking decisions an entrepreneur can make. Recession or no recession, finding a franchise that will bring a return on your investment will take a lot of research and consideration.

People exploring new franchise opportunities, therefore, will be interested in a new column in Entrepreneur magazine about researching franchises. The story quotes FranChoice CEO Jeff Elgin, who says franchisees should ask three direct questions to franchisors before signing on the dotted line.

What is the franchisor’s number one focus?: If the franchisor says it is not the franchisee, warning bells should immediately be ringing in your head.

Why do franchisees get in trouble?: Not every franchise is going to be successful, and rather than just focusing on the lucrative ventures, ask about those that have failed to grow to learn if there are any lessons for your potential set-up.

How are conflicts resolved?: The way a franchisor handles problems with its franchisees will tell you a lot about his/her philosophy and mind-set. Elgin also says to be wary of a franchisor who doesn’t admit to trouble occurring from time to time.

Essentially, Elgin says, if you’re not to ready to ask franchisors the hard questions, then you could be dooming yourself to certain failure.

It’s also suggested that people speak with other franchisees to get an honest and realistic perspective on exactly what to expect. Questions about marketing strategies, organization, and the financial reality of the franchise should be raised.

On a side note, those interested in the defining characteristics of successful entrepreneurs should visit the blog tomorrow, as Franchise Direct CEO Sean McGarry will discuss the subject in his latest Franchise Insights video.

Location and geography are intangibles in the world of franchising that end up having a huge effect on an entrepreneur’s ability to start and maintain a profitable business. Small businessmen and women are facing enough challenges at the moment, so navigating the pressures of geography in starting a business is a prerequisite.

Truly mobile franchisees and franchisors should take note of the Small Business and Entrepreneurship Council’s Small Business Survival Index for last year. The SBE ranks from one to 51 the best and worst states (with Washington DC included) to operate a small business. The index was created by tabulating a number of factors including taxes, various regulatory costs, government spending, property rights, health care and energy costs.

The most entrepreneur-friendly states are South Dakota, Nevada and Wyoming, while New Jersey, California and Maine are the three most difficult states to make a living as a small businessperson.

Anyone in the franchise industry considering uprooting to level the business playing field at this difficult time should spend a few minutes analyzing these statistics. Relocation might become a necessary move for entrepreneurs in the coming months, and it’s important to know the best places to invest.

Yesterday we were discussing innovations that fitness franchises are implementing to attract business during what it is typically one of their busiest months of the years. Fitness franchises are not alone: just look at some of the changes food franchises are bringing in to attract new customers.

Some food franchises are betting on a breakfast resurgence. Oatmeal, that cheaply-made, unfashionable, extremely-filling breakfast meal has started to pop on the menus on Starbucks and Jumba Juice in cold-weather cities like Chicago. Considering that breakfast has become less and less integral for workers on the go, the return of oatmeal shows that franchises are thinking outside of the box to attract customers. Easily-made and highly nutritious, oatmeal is a perfect meal for the recession, and one wonder what other formerly passé foods franchises might bring into the fold.

Franchises have long been hoping that new technology might provide them with a competitive edge. Few food franchise markets are more competitive than the pizza industry, and signs show that franchises are turning to the internet to attract customers. Domino’s Pizza now lets customers order pizza on TiVo, while you can order Pizza Hut from the couch with your TiVo and Papa John’s now accepts text message orders. Each pizza franchise is obviously trying to adapt to the changing ways we interact now, but will these innovations really bring a flood of new customers, not to mention imitators? Time will tell, but franchisors obviously feel this is a risk worth taking.