Career Change at 40: How to Leave Your Job and Be Your Own Boss

Are you considering a career change at 40? You're not alone. Many people want to remodel their careers as they gain more experience, looking for more fulfilling or financially rewarding opportunities. Learn more about your options and why owning a franchise may be the best career change opportunity for you. 

Economic uncertainty, lack of job security, and dissatisfaction with corporate America are causing many people to rethink their futures and ponder making a career change at 40. In 2023, more than 305,000 workers were laid off as part of sweeping job cuts by major corporations, particularly in the technology sector. Although the U.S. added jobs in March, and unemployment is low, many seasoned white-collar workers still fear losing their jobs, particularly to employees with less experience and a lower salary. At least one in five HR professionals receive complaints of ageism in the workplace, according to SHRM.

Feeling battered and bruised is taking a toll on American workers. Heavy workloads and a lack of management support and resources are contributing to burnout. A survey by Robert Half revealed at least 38% of professionals felt more burned out in March 2023 than at the same time in 2022.

Switching careers can reignite passion and provide new challenges that revive your enthusiasm and drive. Transitioning to entrepreneurship can be an excellent way for you to take control of your career and achieve your lifestyle and financial goals.

Embrace Entrepreneurship

At 40, you've accumulated valuable skills and experience, understand what you enjoy, and know what you no longer want to tolerate in a job. These insights often make you an ideal candidate for entrepreneurship. Guidant Financial reports the top reasons people start a business are to be their own boss, pursue a passion, or find an alternative to a corporate job. Running your own business allows you to capitalize on your expertise, make decisions that align with your values, and directly reap the rewards of your hard work.

Many people who make a career change at 40 appreciate the flexibility and control over their time that entrepreneurship offers, allowing them to balance work with personal life or family commitments more effectively. Business ownership offers an opportunity to build a legacy that can be passed down through generations. It can enable you to have a lasting impact on your community through your products, services, or charitable efforts.

At this stage, you might be more financially prepared to invest in a business, with the ability to handle the initial startup costs and sustain the business during its growth stages. While owning a business carries financial risks, it also offers the potential for financial rewards. Successful business owners can achieve a level of income that might not be within reach in a corporate role. You’ll directly reap the benefits of your hard work and dedication.

How Franchising with Bath Tune-Up Can Help

Franchising provides a structured way to own your own business without having to start from scratch. There are advantages and disadvantages of franchising a business. You get the benefit of a proven business model, an established brand reputation, and comprehensive support in areas like training, marketing, and operations. For many people considering a career change at 40, franchising can lower the risk and learning curve associated with starting a new business. You’ll have less creative control, but you’ll have a peer network to help guide you on your journey.

Bath Tune-Up is a franchise specializing in bathroom renovations, a service in high demand due to the continual need for home improvements. As people invest in upgrading their living spaces, services like bathroom remodeling remain essential, providing a steady stream of potential business.

Here’s what gives Bath Tune-Up a competitive edge for new entrepreneurs:

• Strong industry: Kitchen and bath revenue is projected to reach $173 billion in 2024, according to the NKBA. Although revenue is forecasted to dip slightly, the aging housing stock is helping keep demand for renovations strong. The median age of owner-occupied homes in the U.S. is 40 years.
• Tailored training and support: One significant benefit of franchising with our brand is the extensive training and support you receive. Even if you have no experience in remodeling, we make sure you’re prepared to manage and grow your business. You start with an in-depth training program covering all aspects of the business, from technical skills to customer service and marketing. You don’t go it alone once your initial training is complete. We ensure ongoing support through advanced training opportunities, marketing tools, and a network of fellow franchisees. These resources are invaluable as they help you navigate the initial stages of your business and beyond, providing guidance when you need it and ensuring you're never isolated in your efforts.
• Positive work-life balance: Choosing to franchise with Bath Tune-Up can align well with both your financial and lifestyle aspirations. Our model is designed for high profit margins and low overhead costs. Whether you choose to operate from a home office or a retail location, the flexibility is there to suit your preferred way of working and living.
• Profit potential: Financially, the potential for a strong return on investment combined with our robust support system creates a pathway to achieving the personal and financial independence you might be seeking at this stage in your life. Our collective buying power and marketing efforts provide cost savings.
• Strong franchise system: You’ll become part of a network of business owners who are just as dedicated to your success as they are to their own. Our peer network offers a platform for exchanging ideas, advice, and support.

Write Your Own Success Story at Any Age

Starting a new career at 40 can seem overwhelming, but it doesn’t have to be. With the right support and a proven framework, you can build a new future. Inquire now to learn more about partnering with Bath Tune-Up to open a franchise in the home renovation industry.