But if you don't fancy the the prospect of continuing in your current line of employment, a change could be on the cards with a move into franchise ownership and self employment.

The franchising industry has always had a healthy proportion of franchisees over the age of 50. According to this year’s NatWest bfa franchise survey 15 per cent of new franchisees over the last two years fell into that age group.

The figures are hardly surprising, as franchising offers mature candidates the chance to make the most of the capital that they have accumulated throughout the duration of their career. 

It is also provides a route into business ownership that is tried and tested, fully supported, and sets out a fixed term franchise agreement, so that franchisees know eactly what they are committing to.

Tom Endean, marketing manager at the bfa said: “The franchise business model also provides all the necessary basic and ongoing training and support, which means that franchisees of any age can embark on a career direction that bears no relation to the industry that they may have spent most of their working lives in. For many it has the added benefit of having better control over their work-life balance.”  

As the franchise industry has evolved, it has become more diverse, and it is continuing to attract a broader range of business types, including property services, automotive repairs, pet care, fast food and domestic and commercial cleaning, that see franchising as a stable and sustainable way to expand.

Mr Endean added: “As a result, there are many more investment opportunities for prospective franchisees to consider, from high street retail to home-based and mobile businesses; and from consumer sales, to business services.”

For more information on franchising visit www.thebfa.org