Alert
Close

   

Enter the Family Fun Travel Sweepstakes. No purchase necessary. See official rules

Highlights

Open

Work & Small Business
webinars

Becoming Your Own Boss: How to Write a Winning Business Plan

Learn why it is important to have a small business plan. Register

Resources

Use these Small Business Administration tools Use these Small Business Administration tools to help you at any stage of your business venture.

 

AARP PROGRAMS

AARP Participated in ‘Small Business Saturday’

AARP participated in Small Business Saturday on Nov. 29. View a blog about AARP’s role in that effort.  Read

In Search of a Second Act: The Challenges and Advantages of Senior Entrepreneurship

AARP testimony to the Senate Special Committee on Aging and Committee on Small Business and Entrepreneurship on the challenges and advantages of senior entrepreneurship

Employer Resource Center

Attract and retain top talent in a changing workforce.

A Business Case for Workers 50+

New research on the value of experienced workers.

Starting a Business Over 50

Here are 5 franchises that may be a good fit for older workers

A stack of books against an orange background.

Define your work and financial goals: Pick up Great Jobs for Everyone 50+ today!

3. In-home senior care

Home Helpers

Service: in-home, nonmedical care to older people

Founded: 1997

Number of franchises: 600-plus

Headquarters: Cincinnati

Investment costs: $47,150 to $86,400

Fit for 50-plus? As boomers get older, the need for services like Home Helpers will continue to expand. The business can be run from your own home, and there is not a lot of inventory to manage.

But: Business can be difficult because it touches on sensitive subjects, like age and personal independence. Employee turnover can be high.


Spotlight: Myles Showers, 71, Columbus, Ohio.

Ten years ago, a downsizing put Showers, a general plant manager, out of a job. He decided to buy a franchise, considered — and rejected — several retail services, partly because he was concerned about cash register stickups. He settled on Home Helpers.

At the start, he worked more than 40 hours a week. He built up the business, hired staff and bought four additional territories. Today he serves the entire Columbus metro area and works about 30 hours a week. On occasion, he's run his business from his laptop in Hawaii or in the middle of Lake Erie.

"I've had more fun the last 10 years, earning a living, than I ever had," says Showers. More importantly, he says, he's now financially ready to retire.

His advice: Have an exit plan. "Am I going to want to be doing this when I'm 82? Possibly, but I'm thinking maybe not," says Showers. He plans on eventually selling off his territories one by one and serving as a standby consultant to his buyers.

Happily self-employed: auto finance >>

Topic Alerts

You can get weekly email alerts on the topics below. Just click “Follow.”

Manage Alerts

Processing

Please wait...

progress bar, please wait

Tell Us WhatYou Think

Please leave your comment below.

Advertisement

Jobs You Might Like

Discounts & Benefits

From companies that meet the high standards of service and quality set by AARP.

UPS Store membership discount aarp benefits

Members save 15% on eligible products/services, 5% on UPS shipping at The UPS Store®.

membership adt

Small business owners save 20% on new installation of any new ADT security system.

Man using cell phone outdoors

Members save on monthly service & usage fees and get free activation with Consumer Cellular.

Member Benefits

Renew today! Members receive exclusive member benefits & affect social change.

Advertisement

Advance your skills. Transform your career.

Explore your learning possibilities.