Jeff Elgin has almost 20 years of experience franchising, both as a franchisee and a senior franchise company executive. He's currently the CEO of FranChoice Inc., a company that provides free consulting to consumers looking for a franchise that best meets their needs.
Should my spouse and I start a franchise business in order to fund our retirement?
I'm turning 60 and have been in the legal business for over 30 years. I am interested in starting a business part time that may turn into full time income. What I'm looking into is aCruise One franchise. It's about $10,000 up front money and of course they give you training, help set you up with direct mail and teach you the business because it's their reputation as well. But I'm concerned about how much money truly needs to be spent each month. Is this something realistic at my age to start? My spouse and I have a comfortable living right now and we both know once we retire from our current jobs we still need to work to earn extra income. Is this a good way to go or is it too risky?