Starting a Business After 40: The Perfect Time to Start
Rather than thinking it is too late, starting a business after 40 is really the perfect time to start. In fact, findings published by MIT show that the average age of startup founders is 45. A combination of life experiences, social and financial capital, and personal priorities creates the recipe for success when it comes to starting a business after 40.
The benefits of starting a business after 40 - Consider that older, seasoned entrepreneurs who have already had successful business careers typically have a few advantages over their younger counterparts. For many this includes a strong work ethic, management experience, a robust network of social and business contacts, and often access to capital.
By the midpoint in your life, there is often a sense of clarity and a strong sense of self that is extremely valuable for a business owner. It becomes much easier to determine what to delegate, how you can use your skills appropriately and how you can identify and select the right business opportunity that fits your values and goals.
Franchising can be an attractive investment for experienced executives, prior business owners, retired military professionals and individuals with a variety of life experiences who have the proven leadership skills needed. And with low start-up and operating costs, franchise ownership may be the most straightforward path to owning a business and becoming your own boss.
Are you interested in starting a business after 40? With 46% of small business entrepreneurs falling between the ages of 41 and 56, you are certainly in good company. But if you are not quite sure where to start, we have a few tips and provens systems to get you started quickly.
Consider your passions and skills when identifying your new business venture - While you certainly should be passionate about this next phase of your professional journey, it also is important to be realistic about what starting a business after 40 entails.
- Consider which of your skills will make you successful.
- Spend time each day working towards your goal of launching your business
- Take advantage of the resources available to strengthen the foundation of your business.
Owning a Pets Wants franchise combines the entrepreneurial spirit with growing demand in the pet industry to create a potentially lucrative business opportunity that is perfect for those starting a business after the age of 40. Pet Wants franchise owners are passionate about pets and believe in the value of whole nutrition for their pets, but more importantly, they are entrepreneurial-minded with a desire to grow a business and generate revenues.
As Pet Wants franchise owner, Shannon Weel explains, “My favorite part of being a Pet Wants franchise owner is running my own business and feeling like I have control over my future.” She goes on to say, “ It feels rewarding and I feel proud of myself, to be honest.”
Most importantly, you can be assured that we will be with you for each step of your new journey. Shannon continues, “There is a blueprint to follow and guidelines that helped me on my road to success. They really provided me with the tools I needed to succeed.”
Plan ahead to enjoy financial stability for your retirement - Debt can be a dream killer, so be sure to pay down any debt you may have before starting your new venture. When you are financially fit, you are more flexible and have greater options on how to fund your business.
Success takes time - Starting a new business can take time. Even if it takes off as you planned, you likely will have hiccups along the way similar to many other small business owners. This is when a solid mentor by your side can be so important.
Pet Wants understands that the ideal business venture might look a little different for everyone, which is why we offer two different pet franchise models that make the market more accessible.
It really is the perfect time - If you are considering starting a business after 40 and are looking for a career that is as rewarding emotionally as it is financially, being a Pet Wants franchise owner could just be the opportunity you have been waiting for.
When you are ready to explore this possibility to own your own Pet Wants franchise, learn about the next steps in this life-changing journey, and let’s get started.