Retirement does not mean the end of a life in business. For many people, actually, retirement means the beginning of a life in franchising.
A recent article in the Wall-Street Journal’s Take Two column profiled the career of Stephen Gartner. After retiring from a corporate position in Petco, Gartner began to consider what he should be doing with his time. He had relocated to Tennessee but even golf bored him. When he lived in Chicago, he used to get his hair cut in Great Clips. There were no Great Clips around him in Tennessee and from somewhere the idea dawned on him: maybe the people in his new community would enjoy the hair cutting franchise as much as he did.
Stephen’s is an unlikely story of franchise success but it proves just the kind of opportunity that franchising can offer. Stephen had never cut hair in his life. With Great Clips, he would never have to. Instead, he would employ excellent staff and impart his business vision – acquired from a long, successful life in business – upon his employees. It’s a recipe for business success.
Stephen also gives the following three pieces of advice for new franchisees:
- Be open to opportunities
- Understand your capital
- You don't have to start from scratch
This is one of the best articles on franchising that I’ve read in a long time. It’s also proof that barbershop franchises and hair salon franchises are continuing to boom, especially for senior franchisees. “At Great Clips alone, the number of owners over 50 increased by more than 15% last year,” the WSJ report.
Stephen now owns two salons and he’s enjoying his golf again. Another sign of what franchising can do.