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Older Americans Embrace Franchising for Financial Security

10/8/2025

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Summary

Story summary

Older Americans increasingly pursue franchising and self-employment after leaving traditional jobs. Examples include George Koenig and Dianne Michels.
About one-third of Americans aged 70-80 run businesses. 65+ self-employment has nearly doubled since 1985.
Financial necessity drives many. 65% want to start a retirement business.
The average retirement goal is $1.26 million. Most older entrepreneurs operate solo for supplemental income.

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Story summary

Older Americans increasingly pursue franchising and self-employment after leaving traditional jobs. Examples include George Koenig and Dianne Michels.
About one-third of Americans aged 70-80 run businesses. 65+ self-employment has nearly doubled since 1985.
Financial necessity drives many. 65% want to start a retirement business.
The average retirement goal is $1.26 million. Most older entrepreneurs operate solo for supplemental income.