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Understanding Today’s Small Business Owners

So many people from a variety of backgrounds want to start their own business, but doubt if they have the education to do so. Others worry they might be too old to switch gears and begin down a new career path. However, numbers from the Small Business Administration (SBA) might ease those concerns.

Young tech startups garner a lot of attention, but according to the SBA , nearly 75% of small business owners in the United States are over 40. The largest percentage of small business owners (33%) are in their 50’s.

When it comes to education, only 28% of small business owners surveyed by the SBA had a college degree, while 34% said a high school diploma was their highest level of education.

Education offers a crucial foundation, but it’s experience that helps entrepreneurs excel. That is the case with many of Coverall’s 8,000 independent cleaning business franchise owners. For them, opening a franchised commercial cleaning business is the culmination of years of hard work and a dream come true to own their own business.

Coverall’s franchised business owners typically employ as many or more people than the majority of today’s small business owners. The SBA found about 70% of small business owners operate as either solopreneurs or have between 2-5 employees.

Whether you think you’re too old to make your dream of owning a business a reality or lack the education, the SBA’s survey shows it’s never too late and hard work can help overcome obstacles. If you are considering business ownership, franchises also offer the added support with training, operations and the other essentials needed to successfully operate a business.  

Learn more about opening a Coverall franchised business and join the thousands of independent business owners who benefit from Coverall’s proven roadmap to follow, low startup costs and field support. Get started on the path to owning your own commercial cleaning business franchise here.