FRANCHISING FOR AGING SOCIETY - VIEW FROM TWO STANDPOINTS
FRANCHISING FOR AGING SOCIETY - VIEW FROM TWO STANDPOINTS

Author(s): Aleksandar Erceg
Subject(s): Labor relations, Demography and human biology, Gerontology, Socio-Economic Research
Published by: Sveučilište Josipa Jurja Strossmayera u Osijeku, Ekonomski fakultet u Osijeku
Keywords: aging society; franchising; business opportunity; franchisees;
Summary/Abstract: The rise of life expectancy and the trend of increasing age for retirement are influencing the world economy. The age for retirement is slowly growing from 65 to 67 years and could easily reach 70 years in years to come. Although for some this is still far away, for many it causes a strong and current sense of unease. Fluctuations and competition on the job market worldwide are not adding ease for people since there is a danger that you must find a new job at the age of 50+. So, from one standpoint, when people retire or they are made redundant, franchising can be a sound solution for continuing their work. Franchising can allow them to create a new career and have bigger control over the future. As an older franchisee, one can find many benefits for adopting franchising from starting a business to having an asset that you can later sell for financing retirement. From a franchisor’s standpoint, an older franchisee means reliability and experience which are characteristics of a successful franchisee. Thus, for the aging society a franchise business model can provide a chance not only for survival but also to have a successful business. On the other hand, franchising as a business model is providing many different services and products which are intended for the aging society. Today the products, services, and care for the aging society offer business opportunities that can be put within the franchise business model. The main aim of this chapter is to analyze opportunities that franchising can offer to the aging society from both standpoints: (i) as a franchisee, and (ii) as a business that offers products, services and care to the aging people. The chapter will also suggest further proposals for research on the role of franchising in the silver economy.

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