According to MoneyWeek magazine, 3,500,000 50+ year-olds have decided to take early retirement and 500,000 self-employed business owners have stopped working.
We have spoken before in this blog and on our video channel about the DVSA statistics indicating large numbers of ADI’s are handing their green badge in.
This is alarming news as it demonstrates a step change in the approach to work of older working people. But it also highlights an opportunity of increased demand for driving instructors who are serious about their business. We have reported here before that according to the DVSA survey only 62% of driving instructor respondents were working over 25 hours a week in 2023. It does appear to be the case that although there is a very high demand for driving training, instructors are only working the number of hours that they want. And why shouldn’t they?
A recent study by the OECD shows historic levels of the state collecting tax, currently at 35.4% of GDP. Given the fact that this is an all-time high, it would appear that should there be increased taxes in the near future, the public is going to be making some lifestyle choices that perhaps haven’t been made for over a decade.
Speaking of lifestyle choices, the magazine also reported that workers in central London offices are only working from the office 2.3 days a week on average. Across the UK there is much talk about a reluctance of workers returning to office buildings post-Covid lockdowns.
For the BIG TOM Franchise, the franchisee is in complete control of how much work they commit to in any given period; and unlike others, the franchise fee is not fixed, if you choose to work less you pay less for the franchise benefits. If for example, you decided to limit the number of driving lesson hours you offer to say 20 per week, that means that you can be earning between £1056 – £1320 (avg £1188). After the expenses of running the driving school car and the franchise fee, you will be earning £808.80p for working your 4 hours per day (£40.44p per hour). Note that this involves working with just one pupil in the week, with only one journey to/from their home per working day. The complexities (and costs) associated with working with 20 pupils per week make the prospect of working with just one pupil so much more safe, enjoyable and manageable.