5 Reasons Why a Career Change at 30, 40 or Even 50 Might Not Be a Bad Idea!
Have you had the same job since leaving school or graduating from university? Or have you perhaps been in an unofficial ‘job for life’ for a long time? For some, they simply stick with it because they feel it’s too late for a career change. But this isn’t true.
Switching direction can be done at any stage in life. In fact, there are plenty of people who decided to look for something different in their later lives and reaped the rewards.
Making a career change at 30, 40 or even 50 can actually be the best time to do so. Join us as we explain the reasons why…
1. Other life transitions are behind you
People in their twenties experience so much that the thought of switching career can feel overwhelming. Purchasing your own home, finding a partner, and raising children are three common life events that don’t leave much time for other transitions.
But if you’re considering a career change at 50, then the likelihood is that these life transitions are now complete. Even if you’re in your thirties, moving home, organising a wedding and starting a family could possibly now be in the past.
This should leave time to think about you and your aspirations, even if you’re still paying off a mortgage and doing the school run! With minimal interruptions, it’s the perfect time to truly consider what you want.
2. You’re more organised financially
If you’ve paid off a mortgage and the children have flown the nest, you may finally have some money to invest in a career change. This might not yet be your situation if you’re in your thirties or forties, but you probably have a much better grasp on your finances than you did in your twenties.
Reckless spending is a thing of the past. Perhaps you’re now a budgeting expert, meaning you can seriously consider changing career direction – without worrying about financial issues later down the line.
You might even be able to start your own business if you have enough capital. With budgeting now part of your skill set, you’ll be more adept at thinking pragmatically and so will have higher chances of success. If you fear money problems will arise after making a business investment, then a franchise is one of the least risky options available.
3. You’ve acquired a variety of skills and experience
Financial proficiency won’t be the only competence you’ve acquired over the years. You’ll have plenty of other transferable skills that will prove useful for midlife career changes, including leadership, networking and time management.
Whilst it’s likely that you won’t have any industry experience related to your new job, there are ample career options that seek a certain professional background instead. Even when applying to start up a franchise business, the franchisor often doesn’t expect you to have owned an enterprise previously – being experienced in management and networking is sometimes viewed as significantly more valuable.
Great networking skills will also allow you to find opportunities for new business, increasing the chances of a quicker return on investment and a smoother career move.
4. You are more confident and passionate
The experience you’ve gained will also likely mean you’re significantly more confident in your abilities than you were at the start of your career. This should help with believing that you can create a thriving new venture, as well as motivating you to run it to the best of your ability.
If you’ve spent many years in a role that paid the bills but felt uninspiring, a career change in later life is the perfect time to find your passion. With savings in the bank, you can figure out not only what you have an enthusiasm for, but also what you have the time and drive to make a success out of.
On top of this, your experience will give you a much better idea of what you do and don’t want in a career.
5. The chance to earn more money
Often the beginnings of our careers can be about ensuring there are enough funds and security to continuously pay for outgoings, rather than maximising our income. However, with savings built up after years of working, now may be the perfect time to explore other avenues.
You can think about capitalising on opportunities like starting a franchise. With less risk than a start-up, you’ll have the chance to earn more. You’ll be on the path to continuous success, as opposed to being limited by how much you can earn in your current job. And you can prepare for your future too, further building your pension pot for retirement.
Franchising is certainly a viable option for a prosperous, fulfilling career change, even later on in life. And that’s just one of the many reasons why you should consider franchising.
Rainbow has a number of territories currently for sale that are perfect for anybody looking to opt for a new business venture. Whether you’re entering a new decade or not, now may be the time to seize one.