When people think about the best investments for the long-term, they often think about buying stock, putting money in a 401K or becoming a real estate mogul. While these investments are all good ideas to prepare for retirement, there is another smart way to invest that many people miss – franchise ownership.
Here are three reasons why franchise ownership is a smart investment:
1. Ongoing Income Past Retirement Franchise ownership can not only help you build up a nest egg before retirement but also provide significant income during retirement. If a business model is chosen that can be run by a manager, you can work part-time while still enjoying a full-time income flow well into retirement.
2. Equity Building – Franchise ownership also allows you to build equity in a business that can be sold to an investor or transitioned to family member. For example, if one spouse passes away, the other spouse will be left with an asset that can be either sold or continue to bring in income for ongoing support. While running a business might be overwhelming to some spouses, most franchisors offer a support system and training that could help them transition into managing it. If they really don’t want to do that, they could sell the business and invest the profits elsewhere.
3. Faster Wealth Accumulation – Another great advantage of franchise ownership is that it allows people to increase wealth more quickly than traditional business ownership. Because a franchisor has already worked through the challenges of finding a successful business model, a franchise can be up and running and generating income much more quickly.
If this investment option is intriguing and you would like to explore it further, click here and we would be happy to talk with you.