Loading…
Tuesday, September 23, 2014
Current Weather
Loading Current Weather....
Published: Thursday, 3/7/2013

More people 50-plus turning entrepreneur with own firm

ASSOCIATED PRESS
Tony Uzzi, 52, owner and general manager of Nurse Next Door, the second business he started with a buyout from a pharmaceutical firm, bought the franchise after 30 years in traditional jobs. The unpredictable schedule, hiring and managing,  and attracting clients took some adjustments. Tony Uzzi, 52, owner and general manager of Nurse Next Door, the second business he started with a buyout from a pharmaceutical firm, bought the franchise after 30 years in traditional jobs. The unpredictable schedule, hiring and managing, and attracting clients took some adjustments.
ASSOCIATED PRESS Enlarge

NEW YORK — Calling the shots isn’t always all it’s cracked up to be. But for people above 50, it’s become a more popular choice.

Tony Uzzi knows all about that. After 30 years in traditional jobs, at age 52, he accepted a buyout from a pharmaceutical company and went into business for himself. Now, instead of having a fairly predictable schedule as a pharmaceutical salesman, work can interrupt just about anything — even dinners out.

On one occasion, Mr. Uzzi was in a restaurant with his wife, and their bottle of wine was being uncorked. The next minute, he was dashing off to make sure an elderly client of his Nurse Next Door senior-care franchise was OK.

“It’s 24 hours a day, seven days a week,” Mr. Uzzi said. “It’s a challenge.”

For most Americans, exiting the rat race to start a business is a passing thought. And then, as people get older, building a pension or a 401(k) plan with an employer match is too comfortable to let go.

During the Great Recession and its aftermath, however, the number of people over 50 who started their own companies grew. Often it was because of the stiff job market. Sometimes family or personal circumstances necessitated a change to something more flexible. Almost always, running a business after decades of working for someone else is turning out to be an adjustment.

Mr. Uzzi’s Nurse Next Door franchise is the second business he started after taking the buyout in 2010. Mr. Uzzi first launched an executive-coaching business that drew on his managerial experience. But he was bored and not making the money he wanted. He settled on Nurse Next Door because of his background in health care.

Interruptions aren’t the only challenges. Running the franchise comes with a myriad duties; drumming up sales and hiring are among them.

“The constant drive to get clients, the constant sales calls. It’s finding good caregivers,” said Mr. Uzzi, who runs the franchise in Orange County, California.

Many people over 50 are making the same adjustments as Mr. Uzzi. Research by the Kauffman Foundation, which studies trends in entrepreneurship, shows that more people ages 55 to 64 turned to business ownership during and after the Great Recession.

Some older entrepreneurs keep working in the industry where they’ve spent their entire careers. That was a big confidence booster for Lori Ames, who started her public relations company, The PR Freelancer, in 2010.

“Being 53 and having enough work and life experience made me go into this in a smart way,” said Ms. Ames, who began her business after her 22-year-old son was diagnosed with a malignant brain tumor. She decided that running her own company would give her the flexibility to care for her son and allow her to work near her Babylon, N.Y. home.

She wasn’t worried about getting clients after having done book publicity and other public relations in Manhattan for more than 20 years. What was daunting was the prospect of becoming an employer for the first time.

Ms. Ames’ business grew so much that nine months after she started the company, she was able to hire the first of her two staffers. That was great news, but the responsibility that comes with being responsible for someone else’s salary was stressful.

“That was more nerve wracking than starting a business,” she said.

A lot of older entrepreneurs turn to franchises. They are appealing because they can start making money sooner than they would by building a company from the ground up. Franchises come with a ready-made business and marketing plan — and often a well-known name. Mr. Uzzi, the Nurse Next Door franchisee, spent $100,000 to buy and set up his franchise, much less, he said, than what it would take to establish a business.

When Mark Whitworth lost his job two years ago at 50, he didn’t plan to become a business owner. But the job market for accountants was dicey and looked like it would stay that way.

So Mr. Whitworth opened a carpet and upholstery-cleaning franchise last September. He works six days a week and isn’t turning a profit yet, but he’s enjoying the autonomy that comes with running a company.

“It really does feel good to be the one to make the decisions and deciding the direction your business goes in,” said Mr. Whitworth, who owns a Neighborhood Chem-Dry franchise in Dallas.

He’s optimistic the business will start making money. “You have to be patient and build up a reputation,” he said.

Starting a company while still working for someone else is another route. William Ryan has a job as a salesman for a consumer products company in the Boston area. But last month, at age 52, he also opened a franchise — a Lapels dry cleaning business. His goal is to help pay for college for his two children. He’s also concerned about the job market.

“I have a friend who’s worked for a company for 30 years and just got a layoff notice,” he says. “I’m doing this as a safety net.”



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.