Changing the Narrative: Entrepreneurship Beyond Youth
The notion that entrepreneurship is predominantly a domain for the young is deeply entrenched in cultural narratives. However, history showcases a different reality—where remarkable business successes often arise later in life. This article highlights ten entrepreneurs who found their stride well past the traditional retirement age, offering valuable lessons on resilience, innovation, and the enduring power of experience.
Colonel Harland Sanders – Kentucky Fried Chicken (KFC)
Age at Success: 62
Harland “Colonel” Sanders’ journey to success began with a variety of blue-collar jobs, including roles as a railroad worker and insurance salesman. In his 40s, he operated a service station in Corbin, Kentucky, where his fried chicken recipe grew popular. After the service station’s closure due to a new highway, Sanders seized the opportunity to travel and pitch his chicken to restaurant owners.
At 62, he secured his first franchise agreement, and by age 73, he sold Kentucky Fried Chicken for $2 million (approximately $18 million today). Even after the sale, he remained a beloved figure as brand ambassador until his passing.
Venture & Success: From a roadside stand to a global fast-food empire, KFC now boasts over 25,000 restaurants across 145 countries.
Key Lesson: Great ideas can manifest at any stage of life. With persistence and quality, what seems like a late opportunity can transform into monumental success.
Arianna Huffington – The Huffington Post
Age at Success: 54
Arianna Huffington, a seasoned writer and commentator with a robust publishing background, co-founded The Huffington Post in 2005 at age 54. Her venture blended blogging with journalism, despite facing skepticism early on.
HuffPost soon captured significant traffic, thanks in large part to its political coverage and a diverse array of contributors, leading to its acquisition by AOL for $315 million in 2011. Huffington remained editor-in-chief until 2016 and subsequently launched Thrive Global, expanding her entrepreneurial reaches.
Venture & Success: The Huffington Post emerged as a leading news source and the first digital outlet to earn a Pulitzer Prize.
Key Lesson: Reinvention is achievable at any age. Leveraging a strong personal brand and clever timing can culminate in a culturally impactful enterprise.
Ray Kroc – McDonald’s
Age at Success: 52
Ray Kroc’s background was rooted in sales, specifically selling paper cups and milkshake machines, until he encountered the McDonald brothers’ restaurant. Recognizing their operational efficiency, he pitched his franchising concept and opened the first McDonald’s in Des Plaines, Illinois, in 1955.
At 59, Kroc bought out the McDonald brothers for $2.7 million and expanded the franchise with a rigorous focus on consistent branding and operational speed, ultimately transforming it into the world’s largest fast-food chain.
Venture & Success: Today, McDonald’s boasts over 41,000 locations globally, with annual revenues exceeding $20 billion.
Key Lesson: Opportunities can arise unexpectedly. A wealth of industry experience positioned Kroc to build a transformative franchise in his 50s.
Bernie Marcus – The Home Depot
Age at Success: 50
Bernie Marcus, after being unexpectedly terminated from his executive role at Handy Dan, joined forces with Arthur Blank to create The Home Depot, a groundbreaking DIY store format that emphasized knowledgeable staff and cost-effectiveness.
At 50, he opened the first Home Depot outlets in Atlanta, which quickly went public and evolved into the largest home improvement retailer in the U.S. by 2000, solidifying Marcus as a billionaire philanthropist.
Venture & Success: Home Depot now operates over 2,300 stores, with a market capitalization surpassing $350 billion.
Key Lesson: Professional setbacks can catalyze pivotal achievements. Innovation coupled with experience frequently surpasses youthful ambition.
Amadeo Giannini – Bank of America
Age at Success: 60s
Starting out as a produce distributor, Amadeo Giannini founded the Bank of Italy in 1904, targeting underserved demographics. Notably, after the 1906 San Francisco earthquake, he set up a makeshift bank to serve his community, earning their trust and propelling rapid expansion.
In his 60s, he merged with other banks, rebranding to Bank of America, which eventually became the largest bank in the world by the 1940s.
Venture & Success: Under Giannini’s leadership, Bank of America pioneered branch banking, financing notable developments including early Walt Disney projects.
Key Lesson: Purpose-driven innovation can yield significant results, particularly when serving overlooked communities.
Peter Donnelly – Genomics plc
Age at Success: 54
After a notable academic career, Peter Donnelly transitioned into entrepreneurship at 54, founding Genomics plc to leverage genetic data for precision medicine. His expertise attracted substantial funding and collaborations with pharmaceutical companies.
Venture & Success: Genomics plc has raised over €80 million and is pivotal in shaping preventive healthcare through AI and big data.
Key Lesson: Deep expertise can be a vital asset in entrepreneurship, transforming years of research into impactful applications.
Wally Blume – Denali Flavors (Moose Tracks Ice Cream)
Age at Success: 57
After spending 35 years in the dairy sector, Wally Blume founded Denali Flavors with his wife at 57, creating the signature Moose Tracks ice cream. Rather than producing it himself, he licensed the flavor to manufacturers, establishing a scalable business model.
Venture & Success: Denali Flavors now generates over $75 million annually, with Moose Tracks becoming a household name.
Key Lesson: Refining a successful product can lead to significant achievements without the need to reinvent the wheel.
Taikichiro Mori – Mori Building Company
Age at Success: 55
Once an esteemed economics professor, Taikichiro Mori shifted into real estate at 55, founding Mori Building Company to target high-end developments in Tokyo. His success paralleled Japan’s economic growth in the 1980s, eventually making him one of the world’s wealthiest individuals.
Venture & Success: Mori Building Company played a key role in transforming Tokyo’s urban landscape with landmark projects.
Key Lesson: Timing and expertise can yield exceptional rewards, particularly in thriving markets.
Amanda Feilding – Beckley Psytech
Age at Success: 76
Amanda Feilding, recognized as the “Countess of Psychedelics,” co-founded Beckley Psytech in 2018 at 76 to translate her decades-long research on psychoactive substances into clinical therapies. The company is pioneering developments in drugs for mental health treatment.
Venture & Success: With over $100 million raised in venture capital, Beckley Psytech is positioned to potentially revolutionize mental health care.
Key Lesson: Passion, built through years of dedication and integrity, can pave the way for mission-driven enterprises at any age.
Carmen Hijosa – Ananas Anam (Piñatex)
Age at Success: 60
Carmen Hijosa transitioned from a long career in the leather industry, rethinking its environmental impact and developing Piñatex—a sustainable leather alternative—while studying textile innovation. She launched Ananas Anam at 60, supplying it to major fashion brands.
Venture & Success: Ananas Anam is poised for growth in the eco-conscious market, raising millions in funding.
Key Lesson: Addressing real-world challenges can drive innovation, proving that it’s never too late for industry disruption.
Conclusion
These narratives go beyond mere inspiration; they illustrate that entrepreneurial success is not limited to youth. The wisdom gained from years of experience, resilience from overcoming failures, and extensive networks often create a more robust foundation than raw ambition alone.
Whether initiating a global fast-food chain in one’s sixties or redefining media in one’s fifties, these entrepreneurs exemplify that it’s never too late to invest in oneself. For anyone feeling left behind, their journeys remind us that the right idea, paired with experience and purpose, transcends age. The next significant venture could still be on the horizon.
Meet William, a proud Bethel University alumnus with a fervent passion for lifestyle and culture topics. His keen interest doesn’t stop there; he’s also deeply engrossed in current events of all kinds. William dedicates himself wholeheartedly to this site, thriving on the collaborative energy he shares with Suzanne, his long-standing partner in crime.
Having navigated their university courses side by side for years, their teamwork on the site is nothing short of dynamic. Together, they bring a unique blend of insights, proving that two heads are indeed better than one in delivering compelling content.
