Are you a retiree or veteran looking to buy a business franchise? If YES, here are the top 20 best franchise opportunities for retirees and military Veterans. As a popular saying goes, retired is not tired. A lot of retirees and veterans at their time of retirement still feel strong and healthy enough to take on the challenges of running a business, and the retirement benefits a person is paid after retirement can make a tidy nest of egg to acquire a reasonably priced franchise.
The driving force that makes retirees opt for starting a business as against staying at home all day includes increased life expectancy, elimination of pension for most retirees/veterans, increased dependents and economic uncertainty. A retiree or veteran naturally has spent the better part of his life working on a job or managing a business that he might not need to go through the stress of starting a business afresh, that is why buying a franchise is highly recommended at this point.
Buying the franchise of an already established business has its own advantages which include, having an already popular name, proven Business model and operational procedures, established marketing and supply route, ongoing business support and loyal customers etc.
Yes, some popular franchises can be quite expensive, but there are still franchises that fit within every budget, and they can be found in a variety of sectors such as commercial and residential cleaning services, senior care, coffee shops, food and tasty treat sectors, laundry services, children services, health and beauty, and lots more.
Being that buying any kind of franchise may not be great for the health and strength of a retiree who is supposed to be spending his or her days resting or doing minor muscle and brain toning jobs, we have selected 20 best franchises that are best suited for retirees and veterans considering all the variables.
Top 20 Franchise Opportunities for Retirees & Military Veterans
1. Seniors Helping Seniors
This company runs a non medical in-home service that is delivered by seniors in the United States. This franchise is ideal for retirees and veterans because it puts them in a familiar environment with their mates.
- Average initial investment – $114,088
- 5 year growth rate – 25 percent
- Total number of units – 278
2. Lawn Doctors
Lawn doctors is a company that takes care of farms, gardens and lawns. The services it provides include fertilization, weed control, lawn aeration, tree and shrub care, mosquito and pest control etc; and a one time customer acquisition leads to repeat maintenance. Lawn doctors have over 525 locations in over 40 states. To get this franchise, you would require the following;
- Total investment capital – $101,890 to $115,940
- Minimum cash at hand – $50, 000
- Net Worth – $60,000
- Average revenue per year – $634, 278
3. iTrip Vacations
This is a vacation rental and property management company that is revolutionizing the way guests book and use vacation homes. This industry would give you a proven model, and an exclusive territory where you can enjoy state of the art systems and industry leading technology. This business is good for retirees because they can run it from the comfort of their homes.
- Minimum cash required – $110,000
- Total investment – $123,400 to $142,700
- Net worth required – $200,000
4. Super Green Solutions
This business is a B2B energy saving business. It is a thriving company that takes advantage of large invoice customers, rebates and tax incentives to make a major financial impact while working to preserve the environment. The company is concerned with the creation and saving of green energy. This franchise is ideal for retirees who have a green building and energy saving background, and it is quite cost effective. Its services include solar panel installation and LED solutions.
- Minimum cash required – $60,000
- Total investment – $60,000 to $65,000
- Net Worth – $50,000
5. Storm Guard Exterior Restoration
This is a company that offers restoration services to buildings after a storm, hail or wind damage. This franchise is ideal for retirees who are conversant with construction and real estate, and they should also be at home with building, roofing, siding, windows and gutter projects.
- Minimum requirement – $100,000
- Total investment – $169,400 to $295,100
- Net Worth required – $450,000
- Franchise unit growth rate – 36.4 percent
6. Cost Analysis Enterprises
This is an auditing company that provides cost reduction consultancy services. The company undertakes services in these areas; electric, natural gas, water/sewer, local telephone, long distance telephone, wireless, internet, data etc. This franchise is suitable for seniors who have accounting or auditing background. This franchise is also ideal for those with financial constraints.
- Minimum cash to have at hand – $30,000
- Total investment – $7,500 to $29,000
7. Totally Nutz
Totally Nutz is a company that packages and sells roasted nuts of different varieties. This is a family friendly company that would allow families work at a variety of events and venues while providing a fun and exciting atmosphere. This franchise is ideal for retirees and veterans as it would give them a lot of family time, and help them earn enough to fund their family vacations. Totally Nutz promises a one month return on investment, which is almost a win win situation.
- Minimum cash to have at hand – $50,000
8. Link Staffing
Link Staffing is an employment agency that was formed in 1980. The business serves retail, call centers, hospitality and professional services industries. Link Staffing is a B2B business that prides itself on client satisfaction, and they boast of 44 locations nationwide. Are you a retiree who is skilled in problem solving, is resourceful, outgoing, and have sales, marketing and management experience? Then this franchise is for you.
- Minimum cash required – $65,000
- Total investment – $99,500 to $174,000
9. Vom Fass Gourmet Food
Vom Fass is a specialty retailer that sells the world’s finest oils, spirits, liqueurs and wines. It was founded in 1994 and it now has more than 270 stores in 20 countries. Vom Fass in addition organizes culinary workshops, private wine tasting, food festival sales, and has partnerships with local restaurants. This company is eco-friendly also. So, if you are a retiree that delights in fine wines and dining, then this franchise is for you.
- Minimum cash required – $50,000
- Total investment to be made – $350,000
10. Expedia Cruise Ship Centers
This is a North American top retail travel agency that specializes in cruises. The company is a full service travel agency that offers a wide range of travel products and outstanding service.
- Minimum cash required – #100,000
- Total investment – $99,430 to $183,900
- Net Worth required – $300,000
- Franchise fee – $39,000
- Total number of units – 220
11. Ice Cream Emergency
This company runs a mobile ice cream shop that brings entertainment to weddings, birthdays, school activities and lots more. This full service ice cream palour is housed inside a shuttle bus and guests are required to go inside the bus to be served. Since there is no brick and mortar building, the overhead for this business is greatly reduced. A typical Ice Bus averages $606 per hour.
- Minimum cash required – $30,000
- Third party franchising available.
12. STEM for Kids
This is a highly rated franchise that provides educational enrichment in robotics, engineering and computer programming for children aged between 4 to 14 years through camps, after school programs, in-school field trips and workshops.
This franchise is great for retired teachers or child care providers who are still eager to make positive impact in young minds. Another added perk is that you get to work when you want and from where you want, including your home office.
- Initial investment – $20,000
- Minimum cash required – $20,000
- Third party franchising available.
13. Online Trading Academy
This is a company that offers training in trading, investment and financial educational services to independent operators throughout the United States. The training academy offers training and financial education to individuals who wish to trade from their own account using licensed third parties and their proven model to do business or offer education.
- Franchise/license fee – $80,000 to $250,000 or based on population
- No of units – 41
14. Closets by Design
Closet by Design is a home improvement company that builds exquisitely designed closets and cabinets for clients. The company is looking for experienced leaders with good people and marketing skills. This company offers it’s franchisees site selection, assistance, training, marketing and third party lenders.
- Minimum cash required – $126,000
15. Healthier 4 U Vending
This company offers vending machines that vend healthy snacks and drinks. If you are interested in earning passive income after retirement, then you should try this franchise. The franchise gives you a selection of locations for your machines, white glove installation of the equipment into the locations, business operations and management training, inventory procurement, remote monitoring and inventory management.
Every site comes with a 90 day trial period to determine the suitability of the venue. Running a vending machine business does not entail any stress and as such ideal for seniors.
- Minimum cash required – $18,000
16. Care Patrol
Care patrol is a company that offers seniors assisted living referrals. They help clients choose the perfect care facility for their lived ones. The company was founded by a social worker in 1993. This business is ideal for retirees as it can be done from the comfort of the home with a computer and a phone.
- Minimum cash to have at hand: $54,500
17. ACFN ATM
This company gives people the opportunity to own an ATM machine. It is already proven that ATM machines offer long term residual income with low entry barrier and no experience needed. The franchisee gets paid from every transaction that occurs at their ATMs. This business is ideal because there are no employees, no overhead and no marketing needed. It is a low cost, high return opportunity.
- Minimum cash required – $50,000
- Veteran incentive – $1,000 off franchise fee
18. Lapels Dry Cleaning
Lapels Dry Cleaning is an environmentally friendly dry cleaning plant that offers drop off and pick up services. The franchise offers three different programs that franchisees can choose from which are, environmentally friendly dry cleaning plant, multi-unit program and satellite (drop off/pick up) store, and the company also offers extensive training support to its franchisees. The ideal retiree for this business is one who is outgoing and has sales and management experience.
- Minimum cash required – $50,000
- Total investment – $80,000 to $343,000
- Estimated startup costs – plant $400,000, satellite $100,000
19. All Perks Espresso Cafe
This company is in business to support independent neighborhood coffee shops. They thrive in keeping things simple and relaxed, while offering high quality products at a very personal level. This is a non-franchise opportunity that offers licensing to partners.
All Perks Espresso Cafe serves a complete selection of premium coffee and espresso drinks, and they also serve an extensive selection of hot and cold breakfast offerings, dessert selections, panini sandwich and wraps, fresh salads, sweet and savory crêpes, and soups. If you are a retiree that wants to build a premium coffee company, then this franchise is for you.
- Minimum cash required – $50,000
20. Pets Warehouse
This company runs a store for pet supplies. The company started since 1974 and it stocks thousands of the most popular items and brands and offers them at discount warehouse prices. Pets warehouse stores average over $2 million annually, and it has not had a single failure since inception.
An estimated 79.9 million American homes own pets, meaning that there is great need for pet foods, supplies, self-serve pet washes or pet grooming and other related pet products and services. This franchise is ideal for retirees that love pets and are versatile in the knowledge of pet products. Veterans are offered 10 percent discount.
- Minimum cash required – $75, 000