Baby Boomers Own 62 Percent of All U.S. Franchises

Guidant Financial and LendingClub's latest Small Business Trends survey found most franchised business owners are older than 50, reports PRNewswire . "These are hardworking people who have spent 20-plus years in corporate America leading teams, departments, and business units — and are now ready to put that experience to work in their own small business," said Guidant Financial CEO David Nilssen. The survey found 62 percent of franchises are owned by baby boomers, with 30 owned by Gen Xers and 8 percent owned by millennials. In terms of happiness as business owners, franchise owners averaged an 8 on a 1 to 10 scale. They also skew toward a higher level of education than the average small business owner.