As companies downsize and look for ways to decrease expenses, more and more valuable, often senior, employees are finding themselves suddenly jobless, even after years of devoted service.  If you have been laid off at 50, you are probably wondering what your options are at this point.  The fact is, fewer companies are going to be willing to take a chance on you.  But that doesn't mean you don't have options.

Have you considered owning and operating an executive coaching franchise?  Although today's economy may not seem like the ideal time to open a business of your own, it's actually a great time to open a franchise of this type.  You may not realize it, but the skills you have been developing over the course of your career actually make you an ideal candidate for a coaching franchise for the following reasons:

• Your experience in the business world is priceless.  Fortunately for those of us with some years behind us, experience isn't something that can be taught in a college classroom which makes it a key asset.
• Over the course of your career, you have likely developed excellent skills in negotiation and diplomacy, both of which are essential tools in the business world. Many businessmen and women need coaching in these areas, yet the ability to teach them is typically only found in those with many years of experience.
• Years of people reporting to you have helped you to develop top-notch management skills.  Knowing how to motivate people and keep morale high is invaluable.
• You probably have a roster rich with connections and contacts. Your network can help you research possibilities for new customers by getting the word out about your new career.

At this stage of your life, you may not be ready to take a huge risk.  You need your next step to be a safe and secure way to provide for your family. Franchise ownership offers the benefits of business ownership without as much fear of failure. Because franchises are extensions of brands already known and trusted by consumers, they offer a built-in customer base before you even start.

Being laid off at 50 doesn't have to be a disaster. It could in fact be the beginning of an entirely new and exciting phase of life.