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***
USH
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NOVEMBER 2016 | ENTREPRENEUR.COM
Founders
on How They
Bounced Back
Its All About
24
32
The Dirtiest
Businessmen
See entrepreneurship in
its raw formwith the
miners from Discovery
Channels Gold Rush.
By Dan Bova
32
Every Mistake
Can Be Fixed! Renoun ski-company
These founders fell down founder Cyrus Schenck
washed windows to keep
and got up stronger. his business afloat.
Heres how they did it.
42
Four Steps to a
Well-Rounded
Business
The companies on our
annual Entrepreneur 360
list have mastered a
balancing act.
By Matt McCue
72
Love the One You
Cofound With
You launched a startup
with your spouse?
Now keep the love (and
business) alive.
By Kate Rockwood
84
Now Recruiting
The ecosystem that helps
veterans start businesses.
By Jason Daley
99
Franchise Country
The top 100 franchises
PHOTOGRAPH BY BOBBY FISHER
available to veterans.
By Tracy Stapp Herold
CapitalOne.com/SmallBusiness Credit approval required. Offered by Capital One Bank (USA), N.A. 2016 Capital One
10
Editors Note
How did companies make it
into this issue? Ill tell you.
By Jason Feifer
55
Culture
18
Inspiration
Anywhere!
Taylor Bruce
created a new kind
of travel guide.
By Ashlea
Halpern
13 20
Etiquette Guy Chargebacks
Be better at Suck!
business: Pick up Its true. But stop
the phone! being their victim.
By Ross McCammon By Joe Keohane
16 22
Spy Craft The New-
How to keep tabs Owners Trick
on the competition. Update an old
By Christopher business, and keep
Hann the loyalists happy.
By Andrew Parks
Tools
53 54 56
ILLUSTRATION BY THE NOUN PROJECT/GILAD FRIED
22
Set Up Your
Ask a Geek Shipping Own Cloud
The smart guide to Woes, Solved With this box, you
collaboration apps. How a startup took dont even need the
By Mikal E. control. IT guy.
Belicove By David Port By Seth Porges
4 ENTREPRENEUR 11/16
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64
Start
Money Up
59 61 67
How to Get Invest in Other Retail Roomies
Paid Faster Entrepreneurs How entrepreneurs
Our Money Guy But act like a VC. join forces to slash
has the answer. By Steph Wagner the cost of rent.
By Joe Worth
60
64
By Kate Rockwood
Franchise
Big Demand, 70
Are You Default So You Want
79 82
No Money
Dead? Funding for those to Open a Franchisee Franchisor
Find out before with orders to ll. Wine shop! He traded his desk job How a maternity
your startup dies! By Michelle By Ashlea for a mobile gig xing boutique created an
By Sam Hogg Goodman Halpern dental tools. overstock franchise.
By Jason Daley By Jason Daley
116
Ask for It
It can be hard sometimes.
But if you dont ask
for more, youll never
be satised.
By James Victore
JOIN US
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8 ENTREPRENEUR 11/16
Editors Note
M
OST PEOPLE how founders rebounded from their first big mistake.
havent heard of a Contributing editor Stephanie Schomer oversees these,
scrappy little ski and she emailed a lot of writers asking for ideas.
company called One of those writers was Clint Carter. Hed just gone
Renoun, butwe gaveit a lot of to aSnowsports Industries of America event,scout-
space in this issuea story about ingstories for Mens Journal. While there, he saw a
founder Cyrus Schenck on guy cover his hand in pink goo, then lay it flat on a
page 34, and a full-page photo table and slam it with a mallet. The goo was a fast-
of him on page 35. I bet youre hardening polymer, which protected his hand. Ta-da!
wondering: How did Schenck And thisseemingly crazy person, of course, wasCyrus
pull that off? Schenck. Intrigued,Clintintroduced himself. The
Im going to tell you. two later exchanged emails. Nothing came of it for
Why? I owe it to you. Magazines like Entrepreneur are Mens Journal, but when Clint got Stephanies email, he
designed to help readers navigate their world, and we do wonderedifCyrusmight have a compelling tale about
that in journalistic waystalking to experts, interview- his mistakes.So Clint metCyrusfor a beer, then relayed
ing successful entrepreneurs, and so on. But we forget what he learned to Stephanie, who relayed it to me. I
that to people in business, we arealsoa mystery in need said yesbecauseCyruswas willing to be so open and
of solving. How do editors think? How are decisions vulnerableandbecausehis tale isworth learning from.
made? And so, each month, Im going to explain Not every entrepreneur can do this. Onefounder
our process on this pagethe space where, in most promised he would, so I assigned a story about him for
magazines, the boss pens an advertisement for the issue this months package. But duringthe interview, he kept
youve already purchased. (Heres a trade secret: Many steering the conversationtoward his successes andaway
editors hate writing those letters. Some even outsource from hisscrewups.I understand the impulseit takes
it to underlings.) guts to admit your failures. But we couldnt use his story.
I hope my column can be more useful.So lets get back It isnt in this issue.
to Renoun. What is it doing in this issue? When entrepreneurs ask me for media advice, Itell
The explanation begins with the word package. Thats themto embrace their full saga. Reporters dont just
magazine-speak for a series of related stories, which run want to hear success stories; they want to hearproblem-
together across any number of pages. Magazines use solvingstories.The reason isnt because we thirst for
packages to explore broad themesLets do a package drama; its becauseHeres how I did this is way more
on is a common sentence in edit meetingsand they interesting than Heres why Im awesome. Think
create openings for different stories. This can be good for about it: Which wouldyourather read?No matter the
companies seeking coverage: If I hear about something issue,thats the storyyou should tell.
that doesnt work as a stand-alone profile (like a tiny ski
company), it might fit into a package some months later.
But this can also cause confusion. A publicist just emailed
me, citing a story we did earlier this year about a company
similar to her clients. Might that mean were interested
in her clients business, too? Sorry, no: That old story
made sense for us only in the context of the package it ran
in. The moment had passed.
We usually run one package an issue.Back inJuly Jason Feifer
thats how far out monthly mags are plannedwe jfeifer@entrepreneur.com
decided that our November package would be about @heyfeifer
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Inspiration
Then a cryptic email arrived from J. Crew:
Weve seen your guides and would like to talk
about a project. A month later, I was sitting
with J. Crews global marketing team, discuss-
Anywhere!
ing a J. Crew x Wildsam neighborhood-guide
series, pegged to the opening of their new
London stores. They accepted my proposal,
and I turned in my two-week notice. Wildsam
was now a full-time job.
Travel can spark unexpected businesses, The J. Crew project gave me a years runway,
and a new model for funding. Since then, Ive
and Taylor Bruce started his after hunting done collaborative projects for Helm Boots,
for stories in Key West. Shinola, and Bonobos. We partnered with
As told to Ashlea Halpern Lincoln Motor Company on a Detroit book,
which sold out 3,000 copies in three months.
WAS A WRITER and an editor for about car broke down here in the 1930s. He was stuck We now have eight city guides, which sell for
Get Back, Chargeback! Can a small-business owner ever win the battle
against credit card companies?
By Joe Keohane
Q I run a paint-and-sip studio, where people can make art as they drink, and we have a
strict cancellation policy: Cancel less than 24 hours before your class and you dont
get your money back. On many occasions, after a person doesnt show up for class and
loses their money, an infuriating thing happens: They call their credit card company and
say they want the charge removed. The credit card company calls PayPal, which handles
my transactions. I always provide ample evidencea receipt, emails with the customer,
and so on. But nearly every time, PayPal tells me they ruled in the customers favor.
The money gets taken out of my account, and I get hit with a $20 fee. Can I ever win?
Scott, New York City
A: Ah, the dreaded chargebackbane of turned many of those users into fraudsters Heres what friendly fraud looks like: A
many a small-business persons existence. themselves. And Scott is a victim to a partic- customer purchases a product or service, then
Chargebacks were devised decades ago to ularly infuriating category of chargebacks: goes straight to their credit card company,
protect credit card users against fraudsters, The finance industry calls it friendly fraud, claims to have been misled or cheated (or to
but today, in one of the great unintended because the finance industry operates from a have never received the product or service in
consequences of the e-commerce age, theyve very different definition of friendly than I do. the first place), and then tries to get the charge
going to win. When youre talking about are also geared toward larger operations. behavior and a very bad habit.
a small sumScott charges only $50 for So what should Scott do? As it turns What can companies do? Try
a two-hour classthe expense quickly out, he already has the answer in his hand. to humanize the transaction,
becomes prohibitive. Although he uses Rezclick for classes says Eaton-Cardone. Cultivating
But lets say that Scott, on principle, booked online, he uses a different service a more intimate relationship with
decided to fight every chargeback. He puts Squarefor payments taken in person. And e-customers could help charge-
a tail on these scofflaws. He beats signed Square covers $250 a month in chargebacks, backs feel less like a faceless,
confessions out of them. Heres what would even for folks who, like Scott, sell only guiltless crime. J.K.
happen: Hed likely lose anyway. Thats intangible goods. Square also offers an
because hes a service provider, and credit online reservations system called Square
card companies will really only accept evi- Appointments. It can be embedded directly
dence produced by sales of tangible goods. onto Scotts site, and it will handle cancella-
Meaning: third-party shipping informa- tion fees automatically. Scott would be well
tion. Which Scott, who sells an experience advised to look into this solution, with the
and not ironic cat T-shirts, will not have. lone caveat that with less angst in his profes-
It gets worse. Even if he wanted to go sional life, his art could potentially suffer.
down swinging in these disputes, he cant.
He uses Rezclick, a reservations service that Have a business problem that needs solving?
works exclusively with PayPal. This means Email helpme@entrepreneur.com.
11/16 ENTREPRENEUR 21
second acts
The
New-Owner
Conundrum
When you buy a business, you inherit its customersand their expectations. Heres how three
Alexandra Wendkos,
of Dinos.
Why buy? We started Tyner Pond Farm [and were] sell- The draw was doing great, no-frills food in an I had been to Dinos before, but I never
ing out of pasture-raised pork chops, bacon, unassuming locationa gas station! [The frequented it because of the smoke, rats, and
and steakbut were left with a surplus of original also served food.] Its in the midst of characters that would hang around. However,
lesser cuts such as ground beef. The idea local farms, where we would get our meats all these things created a reputation and a
with The Mug was to give us an outlet for all and vegetables. name for Dinos.
that stockpiled hamburger.
What It shifted from How do we move our surplus A store like oursconvenience mixed Keep the cheeseburger, add a few more
was your hamburger? to a place where we captured with grocerieshas a community respon- diner favorites, turn the lights down, and
vision? the heritage of an Indiana drive-in, but with sibility. Theres a school next door, and we keep prices the same. After six to eight
a modern farm-to-curb spin and recipes serve lunch, charging a minimal amount months, we added liquor. I was hesitant,
that are both familiar and special. relative to the high quality of food, because I didnt want it taking away from what
because we believe food is essential to child Dinos had beenthe oldest beer bar in East
development [and] that farmers are the Nashville. Turns out, liquor was the best thing
backbone of our economy. we couldve done.
Howd you People had so much nostalgia for the place, Our change was incrementalrst a formal The approach was slower in the beginning
approach we wanted to keep the drive-in vibe. My breakfast, which grew into lunch, which grew because I was sensitive to the fact that
changes? mother-in-law and others volunteered to be into dinner. Then we started to make changes people really cared about this Nashville
carhops, like in the 50s! The old restaurant based on peoples daily needs in our rural staple. Like them, I didnt want it becoming
had a Facebook page, so we explained what community. The fact that weve kept gas something it wasnt. With time, more people
we were doing and why. The respect from and staples as well as hot dogs, pizza, and became comfortable. The bones were there;
fans translated into engagement. barbecue sandwiches at great price points it just needed a little muscle and fat to get
has been highly appreciated. where it needed to go.
Can you Many think local or farm to table is just for At rst, the convenience-store element People have appreciated the laid-back
please wealthy people. But because were vertically took a little hit because we made it clear that space we provide, and the $3 PBR tallboys!
everyone? integrated with our farm, were able to keep racially disparaging remarks and jokes would Entrepreneurs looking to relaunch a business
prices competitive. Our signature quarter- not be welcomed here. We really wanted to be should keep it simple. Embrace the history,
pound burger is only $4.75, comparable to $9 an inclusive food experiment, so we kept take it slow, and be honest. Dont try to
from a traditional outlet. About 40 percent of the convenience vibe while adding on good, prove too much too soon. By being
our customers dont even live in Greeneld. whole-food choices. We more than made up gracious and giving it time, the changes wont
for what we lost. seem like changes at all.
255
PHOTOGRAPH BY ANDREA BEHRENDS
22 ENTREPRENEUR 11/16
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INNOVATORS
Yukon gold-mining
legend Tony Beets.
24 ENTREPRENEUR 11/16
Now in its seventh season, Discovery Channels
Gold Rush follows the dreamers trying to get filthy
rich by pulling gold out of the ground. We went north
(and then north some more) to find entrepreneurship
in its most extreme, raw form. By Dan Bova
THEY ARE JUST WAITING FOR SOME- capacity for every resident to get drunk at the same time. The Downtown
thing to go wrong, 22-year-old miner Parker Hotels signature offering, the Sourtoe Cocktail, is a shot of alcohol with a
Schnabel tells me with an expression that is half frostbitten, dehydrated human toe plopped into it. Theres a $2,500 fine
smile, half sneer, and all exhaustion. Were stand- for actually swallowing the toe. Thats the thing about this place: Even
ing on the grounds of Scribner Creek, which isnt a creek so much as a the drinks arent easy.
postapocalyptic-looking wasteland of turned-over earth. And they are Gold prospectors have come here since the late 1800s, when pick-
the film crew of Discoverys Gold Rush, who have followed Schnabels axes and shovels were your most complicated machinery. Today the job
every shovelful of dirt since he became a mine boss at the ripe old age of 16. requires towering equipment that can cost millions of dollars. Equipment
Last night I was digging a ditch, he continues. And I knew that the breaks constantly. Workers fight. Mining goes on almost around the
only way this was going to make the show was if I did something wrong clock, and the overtired reality TV stars on the show have two careers to
PHOTOGRAPH BY JUSTIN KELLY, COURTESY OF DISCOVERY COMMUNICATIONS (LEFT); PHOTOGRAPHS BY DAN BOVA
or if I got hurt or something broke. And you can tell the film crew wants manageas businesspeople breaking new ground in a high-stakes line of
one of those things to happen! But thats the nature of the show, they work and celebrities whose every move is captured on film.
As if on cue, a Gold Rush producer appears. Sorry, he says, I have Discoverys attraction to this scenario is obvious: the drama. Thats what
to interrupt you. Something has gone wrong. So off we go to see what fuels todays ever-growing genre of workplace reality televisiontales of
that something is, which is a big something: A boulder has smashed the high tension unfolding inside cupcake bakeries and motorcycle shops.
holy crap out of a vital piece of Schnabels machinery. The producers are But often, the actual conflict in these shows seems forced. Is that dead-
surely happy. Schnabel is not: Hes just an entrepreneur trying to make line really so pressing? Are those two employees really dysfunctional?
a living out here, surrounded by problems. Something about Gold Rush has always stood out to me, though: This is a
Welcome to working in the Yukon, a small, mountainous, and extraor- job few people want, and that most people probably dont realize still exists.
dinarily unwelcoming Canadian territory just east of Alaska. The town The people who do it have to be all-in. And the stakes are extreme versions
nearest the mines is called Dawson City, and its 13 bars have enough of what every entrepreneur faces: Theres a crushing up-front cost and
From left: Parker Schnabel; Beets resurrected dredge, and his $370,000 gold haul.
11/16 ENTREPRENEUR 25
INNOVATORS
INNOVATORS
risk baked into every decision, and the final result is dependent upon a I guess I trusted youd stop, I explain.
group of people you cant controlalong with, you know, dumb luck. You Dont trust no fucking person with your life but yourself, he says.
might strike gold. Or not. Out here, its no metaphor. Tony Beets, 59, looks exactly what youd expect a Yukon gold miner to
So thats why I traveled to the Yukon. I wanted to know how entrepre- look like. Hes bearded, his black clothes are covered in dirt, and he uses
neurs like these thinkhow they handle the risk, the stress, the possi- the f-word like Michelangelo used a chisel.
bility that what theyre doing is totally unreasonable. Are these extreme Hes from Holland, where he made ends meet by milking cows and
conditions fit for only extreme entrepreneurs? Extre-preneurs, so to working on pipeline construction. But he wasnt content. Thats why he
speak? (Sorry.) And now here I amjust another spectator, along with and his wife, Minnie, shipped out to Dawson City in 1984to take a big bet
the film crew, further raising the stakes by watching Schnabel handle on a boom-or-bust industry. There was no plan B, Minnie tells me. But
his latest crisis. (Maybe youll see it on TV: Gold Rushs seventh season I wasnt worried. He always finds work. Best thing we ever did was move
began October 14.) to Canada. Our kids should kiss our ass that we moved here!
Todays screwup is partially of Schnabels own making. A very quick les- Its worked out pretty well indeed. He doesnt share how much he has
son in the basics of gold-digging technology, so you can understand what in the bank, but at this point its enough to drop $1 million on a lark: He
went wrong here: Schnabel operates a series of
machines that tower many stories upward, look-
ing like the mess of metal youd find on a construc-
tion site. First, large sections of earth are fed into
one machine. The earth passes through grizzly
bars, designed to block boulders from reaching
the machines more delicate sorting system, called
a washplant, which separates gold from dirt. But
the grizzly bars stopped working recently, and
Schnabel had to take a bet: Does he keep feeding
in earth, hoping that it includes no boulders?
Gold-mining season is short (about six months, From left: Schnabel sifting for gold the old-fashioned way; the hottest hotel (and bar) near the mines.
A
ND NOW, LIKE a good reality television show, we will fuel and two people, he says. So if I get only one ounce an hour, Ill still
leave the tension hanging in the air while we move along make a fucking lot of money. (One ounce of pure gold would equal about
to another scene of impending chaos. $1,325.) He heard people pooh-pooh this logic, but that didnt concern
Drive 45 minutes away from Schnabels Scribner Creek, him. When you do a big project like rebuilding our dredge, there are
down a winding dirt road that can turn into the worlds biggest Slip N always a lot of experts around. And most of them are always broke. So it
Slide after a good rain, and we reach the very improperly named Paradise doesnt bother me if theyre saying whatever is wrong. You can think what
PHOTOGRAPHS BY DAN BOVA
Hill. Im sitting on the steps of the main building here, and a pickup truck you want; Ill just fucking go and do it while youre thinking.
heads toward mefast. Like, ramming speed. I sit there like an idiot, and After three decades of bets like this, Beets has become a man of hard-
the trucks brakes slam at what feels like the last minute, spraying dust won wisdom like that. A further sampling:
and gravel on me. Tony Beets gets out. Hes the gold miner in these parts. On teamwork: I always give people the chance to express their opin-
Most people get out of the fucking way when a truck is driving straight ion. Theres nothing wrong with a good short argument. If people feel
at them! he says with a laugh. better because their way is better, thats great. As long as I get to that
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piece of bacon, I dont care. he thinks about the stakes hes created for himself. Were putting all the
On motivation: Do yourself a fucking favor and get out of bed every cash flow we have back into the ground, he says, and thats the trouble
morning and be very serious about what you do. We all have good days with mining. A lot of guys end up with nothing because all the money they
and bad days. At the end of the day, its you that made it happen. Not your make goes into the next piece of ground, and as soon as one of those pieces
neighbor, not the banker. You! doesnt work out, youre done.
On perfectionism: We could fix up the dredge better, could have The real winner, in real life, is anyone who spent their money right.
more people running it, but let me put it to you this way: Right now, After an hour, master mechanic Mitch Blaschke shows up. Hes a
the damn thing is working, so dont fuck with it. The important thing Yukon mix of the Maytag Man and MacGyver. Diagnosis: The damage
is to keep it going. is not as bad as feared. He can Band-Aid the plant back together and get
Beets takes me on a stroll of his site. Its a stark contrast to Schnabels, it operational in a few hours. A brief relief (was that a smile?) flashes over
which at least has the appearance of order. Schnabel grew up around Schnabels face before stress starts creeping back in.
mining, and, at age 22, hes seen what works, and his instinct is to repeat If you watch the show, you know that the financial strain can lead
it. But older, serial entrepreneursguys like Beetsknow something Schnabel to scream. At everyone. A lot. Dealing with people is probably
thats learned only from experience: There are many ways to success, my biggest personal challenge. Im pretty short-fused, he admits. One
and sometimes the best thing you can do is leave something that works worker, who was doing a perfectly fine job, once walked off a job simply
to find something that works better. Everywhere you look around Beets because he was terrified of getting yelled at. Im pretty lucky in that I have
place, there are machines big, small, and positively enormous in varying a great group of guys here now. Rick, our foreman, is a great guy, and he
states of rust and readiness. He buys as many of the same old machines as genuinely cares. And thats what I look for in a person. Do they care, or are
he cantheyre cheaper, his mechanic knows how to fix them, and he can they just here for a paycheck? I cant stand being around people like that.
cannibalize them for parts. This is what a diversified portfolio looks like So thats Schnabels way of managing his temper: Hire people who keep
in the Yukon: Its like if Mad Max owned an AutoZone. him grounded. Today there is no screaming. There are only solutions.
After I have my breakfast, I dont walk outside with coffee in my
O
hand, he says, surveying his glorious junk. I have both hands ready NCE SCHNABELS PLANT is patched up, he seems to truly
to fucking work. relax. He asks me what I want to do with my remaining
time, and I have an obvious answer: Dig up some damn
I
N BUSINESS, OF course, there is no such thing as a winner gold in one of those huge-ass machines. The on-site safety
that lasts. A startup could knock out an established rival, expert is not into this, so I settle for panning by hand in an area that
but another challenger will just come along. Apple walloped Schnabels guys have yet to tear into.
Microsoft. Now Samsung chases Apple. And so on. But for all I grew up on Long Island, where the most notable concentration of
the realism captured here in the Yukon, the show Gold Rush does layer gold is inside Flavor Flavs mouth, so Im pretty excited to hunch in the
on one slightly false note: At the end of the season, there is a big emphasis muck. But what starts as a goof quickly turns serious: While loading up
on who found the most gold. But the reality is, it isnt how much you got, my pan, Schnabel plucks a small gold nugget, called a picker, out of the
but how much you spent to get it. These guys arent true rivals. They dont gravel. That, apparently, never happens. The gold the miners catch in the
work near one another; one teams success doesnt impact anothers. This big machines are tiny flakes and particles, called alluvial deposits, which
isnt part of the gold business. And yet: drama. are impossible to see before their journey through the washplant. After a
Cut back to Schnabel, and the case of the unwanted boulder. As we few more minutes, another picker appears. Then another, then another.
stand here in front of a broken machine, I wonder if he thinks about By the time the sediment washes out, my pan is bedazzled.
the other miners and how theyll trash-talk him when this episode airs. I think Schnabel is going to jump up and hug me. Hell, I want to jump
Because these guys will trash-talk each other; its easy to get them going. up and hug me. But he doesnt. It turns out that when you do this for a
But thats not where Schnabels mind goes at a moment like this. Rather, living, finding gold is whats supposed to happen.
When we have a good weigh-in, the cam-
era guys will ask, Arent you excited? he says.
And Ill be like, No, thats just what we found,
and we spent a hell of a lot of money to get it.
Its the entrepreneurs dilemma, no matter
where the business is: Success may look like a
PHOTOGRAPHS BY DAN BOVA
30 ENTREPRENEUR 11/16
From business cards to banners, were here to help you print. Use one of our templates or your
own design. Need to tell the world your story? No problem. theupsstore.com
YO ITS
UR BUS
E G INES
TO OIN S
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32 ENTREPRENEUR 11/16
HOW
DO
YOU
RECOVER
?
OVERCOME ANYTHING
what do they do now? he asked. an easy paycheck and handed the work to an
HOW I OVERCAME The truth is, I was doing all the work. They intern. After they failed a few revisions, I
FIVE YEARS OF were still in class while I was trying to get a prod- enlisted a second firm to advise me on how to
ERRORS uct to market. It didnt bother me until I realized handle the problem. I was throwing good
investors saw them as liabilities. That was the money at bad, and I overshot my marketing
CYRUS SCHENCK first really difficult decision. I called each guy budget by 300 percentand the delays meant I
FOUNDED AN individually and said I would quit Renoun if didnt have skis ready for the start of ski season.
INNOVATIVE SKI they didnt sign over their shares. Some guys I had to continue washing windows to keep the
COMPANY CALLED were hurtand understandably so. But in time, company afloat.
RENOUN IN 2011. AND every one of them relented. Its a testament to The 2015-2016 ski season was Renouns first
AFTER SURVIVING how awesome they are. By handing over their real one on the market. I landed in a couple of
MANY OBSTACLES, stakes, they allowed me to keep going. ski shops, which seemed greatbut after visit-
HES FINALLY POISED I set out on sales missions, but they were ing one undercover, I realized the sales reps
TO MAKE MONEY. disastrous. I visited Japan, the second-biggest had no clue how to explain our technology. So
ski market in the world, and my translator I decided to sell exclusively through our own
never showed, so I tried, and failed, to sell skis website. That would change the economics
IN 2011, MY FIVE PALS AND I WERE with hand gestures. I flew out West to visit entirely: With retail, I needed to sell 20,000
driving home from one of our weekend ski trips every ski shop I could, and left with nothing. units just to break even. Now my margins
in Vermont. We were engineering students at Everything Id learned about the industry would be much higher, and I didnt have to
the time and used to throw out all kinds of ideas started eating away at my confidence: The mar- spend money educating in-store salespeople.
during those three-hour drives. On this one ket was saturated, and to make a profit through Im discovering other perks to being small:
day, my friend Donny suggested building skis retail stores, Id need to sell about 20,000 skis. Im able to create buzz with limited-run prod-
that were based on engineering principles and Id sold zero. ucts, like our Feel the Bern ski, which doubled
thus unequivocally better. We loved the chal- If I was going to flame out, I thought, Id Renouns email list in 48 hours, even though
lenge. Surely we could build a better ski. flame out hard. I spent the last $300 in my bank everyone told me to steer clear of politics. Ive
During my material sciences class, I learned account driving to Denver for a trade show. decided that the key to success is following my
about a rare class of soft materials that harden And on the way, a string of good news rolled in: gut. People say to sell through shops, and I say
the instant you apply force, which meant we An investor Id been working with wired me no. They say avoid controversy, but this year Im
could produce a ski that was soft in powder but money. Then test results on our latest skis came selling a "Hillary versus Trump" ski. Our skis
stiff in icy conditions. We made a sample and in: They showed the best dampness numbers are expensive$1,200 versus the industry aver-
ran some tests, and the numbers were astonish- yet. And then the ski industrys most presti- age of $600so were not going to pinch pen-
ing: Because of the variability of their dampness gious show, called ISPO, gave Renoun a gold nies or take investments from people who want
(a skis ability to adapt to conditions), our skis medal for innovation. I reached Denver on a us to grow fast and sell out.
were 300 percent better than anything on the high and hung a banner over our booth: ISPO I expect 2016 to be Renouns first profitable
market. The other guys stayed in school, but I GOLD MEDAL WINNER. We earned some public- year. We have nobody on payrollnot even me,
quit and took the lead on product development. ity in a couple of ski publications, and The New technicallybut I have a dedicated group of
I also had a side business washing residential York Times wrote about us. Even so, I received designers and suppliers who work on contract
windows, and every dime I earned went toward exactly zero orders at that trade show. to keep the brand going. I cant say for sure that
building Renoun. One of my clients had some Soon after, I nearly lost the business because the worst struggles are behind me, but Im
business experience and was curious about my a design firm played me for a chump. Id put a becoming less beholden to my window-washing
PHOTOGRAPHS BY GETTY IMAGES/JOHN KUCZALA (INTRO PAGE & DARTS)
friendswhat do they do, exactly? I explained 75 percent deposit down on some graphic work gig. With any luck, Ill soon be able to hang up
that theyd launched the brand with me. But for the skis, and Im pretty sure they saw me as the squeegee. As told to Clint Carter
OH, NO
WRONG HIRE! HOW A ROTTEN CORPORATE CULTURE WAS FIXED.
"CULTURE FIT" IS THE HOLY GRAIL OF HIRING, BUT WHEN TRACY LAWRENCE first, until another employee brought it to our attention, she says. Though
launched the catering startup Chewse, in 2011, she gave experience an inflated parting ways with the bad hire was quick enough, righting the culture took more
importance. Were really into transparency and talking truth to power, but we time. Now Lawrence makes sure that culture questionsTell me about a time
didnt always have a way to vet it, she says. That led to a toxic hire: someone you disagreed with your boss. Whats the most difficult conversation youve had
with crazy-impressive skills and market chops but a passive-aggressive streak. with your manager?are in every interview. Even from the first hiring phone
Fast-forward six months and the Chewse culture was marked by whispered call, were up front about our culture, she says. If giving honest feedback or
unease and gossip. We couldnt even pinpoint why everything felt so wrong at getting hugs doesnt work for you, you shouldnt work here. Kate Rockwood
THE RIGHT WAY TO TRACY YOUNG AND HER COFOUNDERS KNEW THE CONSTRUCTION BUSINESS AND COMPUTER
engineering, but they didnt know squat about organizational management. So when they launched
SAY YOU BLEW IT
their startup, PlanGrid, which digitizes blueprints, they decided to run PlanGrid with no titles and a
It isnt easy, but its flat management structure. We were just going to build this business together, says Young. That
necessary. worked fine for a while, but then
M
MYY FIRST BIG MISTAKE WAS
THREE
R ENTREPRENEURS LOOK BACK ON THE BLOOPER
THEY FEARED MIGHT KILL THEIR COMPANY (BUT DIDNT).
S
SANDY C
CHILEWICH
C JASON
SO HORVATH
O NATHAN BOND
O
Founder and creative director, Chilewich Cofounder, Uhuru Design Cofounder and CEO, Rifle Paper Co.
Tracy Young at
PlanGrids San
Francisco
headquarters.
didnt know, so he added the sugar, machineI could watch Entertainment similar tool from scratch. It
too. The batch just setit was Tonightt and drink wine and just write as STAGE 2: ANGER work . Now the mistake is
completely solid. But I was like, We fast as I could. And I wrote Orange Krizelman was furious at part of the company culture,
are not throwing this out; we made Cranberry Mamalade on all of them. I the third-party vendor, sure. and employees invoke the
120 jars! So I called it jam and told misspelled marmalade! When they But he was also mad at incident when they think a
everyone it was for bagels and cream called to tell me, I did some quick himself for how woefully decision is being rushed.
cheese. And people loved it! So we just thinking and said, Were from Maine; unprepared his company I dont think the scab will
kept telling them it was a brand-new thats how we say it here! They loved it. was to deal with the crisis. ever fully heal, Krizelman
product for crackers and cheese. Thank God. Stephanie Schomer We hadnt thought through says, but we definitely got
how to problem-solve a something valuable out of
product that wasnt our the experience. K.R.
38 ENTREPRENEUR 11/16
OVERCOME ANYTHING
20% 12% 19% 10% 14% 10% 37% 35% 36% 28% 12% 5% 7% 6% 14% 5% 21% 13% 31% 19% 23% 24%
Having to Having to Having to Having to Having to Finding Dealing Losing Fear of Having a Managing
close sell lay off discontinue shift the funding with personal failure good idea staff
physical property employees a failing focus of a financial investment for a
business product to business uncertainty business
locations keep the in order to
(stores, rest of the continue
offices, etc.) business going
40 ENTREPRENEUR 11/16
ENTREPRENEUR 360
How to Grow a
Well-Rounded
Business
INTERVIEWS BY MATT McCUE ILLUSTRATION BY STEWART BRADFORD
OUR
OUR 1 RETAILNEXT,
San Jose, Calif.
2. AVANT, Chicago
8. LIAISON, Alpharetta, Ga.
9. TASKUS,
Santa Monica, Calif.
ENTREPRENEUR
5. CARDLYTICS, Atlanta 11. ETAILZ, Spokane, Wash.
11/16 ENTREPRENEUR 43
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I M P A C T
M A RK ET SH A RE + C O M PA N Y G R O W T H
How did you decide there was a market Hows revenue growth? campaigns, how they live both at the store
for high-quality pet food? Were growing, on average, 35 percent to 45 level and have a social component. We
My dog was suffering from chronic ear infec- percent a year. Last year our revenue was $30 recently did one that drove people to stores to
tions, and I was spending a fortune at the vet million, and this year our goal is $40 million. take pictures with their pets in a photo booth
on steroids and antibiotics that never brought and sample our products at the same time.
a true cure. So I researched and started making Have you always been protable?
my own food for him. It cured his earaches My husband lent me $7,000 to get started, and When youre already in about 4,500
and made a huge mess in my kitchen. That led we remortgaged our home several times to retail stores, where do you go next?
to the idea of dehydrated food, to still feed him finance the company in the early years. That There are between 10,000 and 12,000 pet food
healthy foods without the mess. I had a back- forced us to be profitable. When we got more and pet supply stores in the U.S. and Canada
ground in the conventional pet food industry, formal banking relationships, they had cove- that would be potential candidates for our
and I was aware of some of the unsavory nants about being profitable. But then when product. Some of them are on the lower end of
things that go into good old-fashioned pet we brought on investors in 2011, we were able the spectrummore grocery-level standard
food, so I began to think about how to make to spend like drunken sailorsno, not really. so it will take them some time to catch up with
my product different. Human-grade pet food That investment allowed us to focus on our what we are offering.
was the most obvious way. top-line growth. Now were starting to turn
around toward profitability again. Youve turned down the chance to be in
To clarify, human grade means food PetSmart and Petco. Why?
t for human consumption and How have you been able to achieve a Our product takes a bit of explaining, so
30
17. BAUBLEBAR, Delavan, Wis. 35. INSPIRA MARKETING,
New York City 23. DRAWBRIDGE, Norwalk, Conn.
INSUREON,
San Mateo, Calif.
18. COMPANY.COM, Atlanta Chicago 36. CENTRIPETAL NET-
24. AUGUST HOME, WORKS, Herndon, Va.
19. NARRATIVE SCIENCE, 31. SEISMIC, Solana Beach,
San Francisco
Chicago Calif. 37. VINYL ME, PLEASE,
25. BONANZA.COM, Seattle Boulder, Colo.
46 ENTREPRENEUR 11/16
ENTREPRENEUR 360
I N N O V A T I O N
N EW IDEAS + DIS R U P TI N G I N D U ST R Y
This is a second career for you, interesting things with them, like embed a goes back to the DNA of our place, when the
following a successful run in Silicon security camera. Or the lights in a parking lot original product builders were engineers, not
Valley. Whats the most unexpected dont have to all be on. Twenty-five percent manufacturers.
thing youve learned about the lighting of them can be on, and when you show
business? up, the sensors recognize you and all the We know the economic downside of
In Silicon Valley, the idea was always that if lights turn on. manufacturing in the U.S. Whats the
you make the pie a lot larger, everyone eats a We are talking about the technology upside for you?
lot more. In the lighting industry, everyone component, but you could also talk about the People told us that if you manufacture in
thinks the pie will stay the samethat its lighting itself. Whereas the lighting today China, you cant bespoke-manufacture any-
a zero-sum game. So if you come into the is direct, meaning that there is a lightbulb thing. With a very fast process, youd
industry and try to establish yourself, they in your face, we think lighting of the future have an eight-week turnaround time
all believe youre going to try to take market will be indirectyou wont actually see the whereas we can do that in one to two weeks.
share from them. I think manufacturing lightbulb. The other thing is that you can make a lot
suffers as a result. of money on manufacturing in China, until
Tell us about your R&D lab. the one time a manufacturing mistake is
The descriptions of your LED lights The typical lighting company in the U.S. made and that one mistake can essentially
include words not normally associated has its products manufactured in China. We wipe out your order and your profits from
with the product, like data, sensory manufacture everything in the U.S. We link the past few months.
collector, and the cloud. How are your three areas of manufacturing as one group
lights different from the norm? manufacturing, mechanical engineering, and Will you continue to produce custom-
In commercial use, a lightbulb that is 750 electrical engineeringand we add in a soft- ized lights, or will you make mass-
watts literally runs at 700 degrees Fahren- ware engineer, so now we have an interdisci- market lights sold via retail one day?
heit. But by us changing the lightbulb to a plinary engineering group within a company We want to make our company worth a billion
semiconductor device, an LED, the light manufacturing lights. More than 20 percent dollars, so that question comes up all the time.
is not exactly hot anymore. We can also of our company is engineers, including some As of now, and for the near future, we think
connect sensors to the lights, and you can do of the people in the sales department. That bespoke is certainly the only way to go.
38. LOOT CRATE, 43. COSMO DENICOLA 48. STUDENT LOAN HERO, 54. SEMIHANDMADE,
Los Angeles COMPANIES, Austin, Tex. Duarte, Calif.
39. ABSTRAKT MARKET-
Philadelphia
49. CHARGEBEE, Los 55. PORTFOLIO CREATIVE,
ING GROUP, St. Louis 44. IMAGINOVATION,
40
Angeles Columbus, Ohio
50
THE BOUQS COMPANY,
Raleigh, N.C.
CLUTCH HOLDINGS, 56. FRACTL,
Venice, Calif. 45. LOVE WITH FOOD, Ambler, Pa. Delray Beach, Fla.
41. MAZ, New York City
San Mateo, Calif.
51. JANE.COM, Lehi, Utah 57. HOTJAR, Malta
46. CHAMELEON COLD-
42. NEXTIVA, 52. UNIDINE, Boston 58. UPCOUNSEL,
BREW, Austin, Tex.
Scottsdale, Ariz. San Francisco
53. BERKONE,
47. THE HONEST KITCHEN,
Bethlehem, Pa. 59. RPM FREIGHT SYS-
San Diego
TEMS, Royal Oak, Mich.
11/16 ENTREPRENEUR 47
G R O W T H
F U N DI N G + C O M PA N Y SIZ E
You were originally friends and now run we tested different approaches to the store distribution channels, it is very important
a business. Whats your strategy for window. Our delicate layering pieces sold that we have strong back-end capabilities,
working together? very well in-store, so we wanted to mer- including inventory management and
Yacobovsky: Amy oversees the merchandis- chandise our windows with that product. warehouse-management systems. We will
ing, product development, and sourcing teams, However, from far away those pieces can look continue to bolster our capabilities here
while I focus on the technology and marketing like fine jewelry, which retails for several to ensure our back-end systems can scale
teams, overseeing all of BaubleBars creative. hundred dollars and up. By comparison, with the business.
Jain: Each of us needs to know whats going our average price point is around $50. So an
on on the others team, so we have two people important lesson for us was how to com- How else do you envision BaubleBar
looking at everything holistically. We dont municate price point through our window growing?
have a siloed organization where I handle this displays, so people would be excited to Jain: Weve built a valuable platform in terms
and she handles that. come in and check out the product, and of data-driven design, which is based on the
Yacobovsky: We also sit next to each other. know what to expect. data we glean from BaubleBar shoppers.
Theyve tried to separate us beforethat Were able to see what styles our shoppers
could never happen. Youve received roughly $35 million in are interested in but not buyingthat is, they
funding, including a $20 million Series C click through but dont buy, or they add to cart
BaubleBar came of age as an round earlier this year. How will you use but dont check outalong with what styles
e-commerce site but recently experi- the most recent investment? they buy in every color, what colors are selling
mented with a physical store in a Jain: We will continue to hire in key depart- out across the board, etc., and then apply
Long Island mall. What did you learn? ments, including design, product develop- those insights in our design and development
Yacobovsky: We were used to testing and ment, merchandising, and data. We will also process. When our partners see the value of
iterating visual merchandising online. For continue to invest in channels that help us the data we have and how we use a lot of data
example, when we test a Facebook ad, we put grow our audience and tell our story. We have from our customers in decisions about what
up four or five different creative treatments seen success in advertising on Instagram and we sell and dont sell, maybe there is a way to
and then see which performs the best, and will continue to spend money here. Because take a step back to see if there is a way we can
tweak our plans accordingly. [At the mall,] we sell products across a number of different power the jewelry industry.
60 CYNET SYSTEMS,
Ashburn, Va.
61. BAMBOOHR, Lindon,
65. ARTECH
INFORMATION
SYSTEMS,
70 QASYMPHONY,
Atlanta
71. FATTMERCHANT,
76. M CORP, Sacramento,
Calif.
77. US TECH SOLUTIONS,
Utah Morristown, N.J. Orlando, Fla. Jersey City, N.J.
66. COMPANYBOOK, 72. AGUA INC., Boulder,
62. PNEUMATICOAT 78. GUIDANT FINANCIAL,
TECHNOLOGIES,
Rochester, N.Y. Colo. Bellevue, Wash.
Broomeld, Colo. 67. FAULKNER MEDIA 73. TRELORA, Denver 79. CALIBER TRUCK CO,
GROUP, San Diego
63. BIZCLIK MEDIA, Santa Cruz, Calif.
80
74. LOTUS BUSINESS
Carlsbad, Calif. 68. BRILLIANT, Chicago SOLUTIONS, INC., STITCH LABS,
64. FORCE MARKETING, 69. MAKO INVENT, Englewood, Colo. San Francisco
Atlanta Austin, Tex. 75. DNA, Brookline, Mass.
48 ENTREPRENEUR 11/16
ENTREPRENEUR 360
L E A D E R S H I P
M A NAGEM ENT + C U LT U R E
What do you spend the most of your at the same time. This allows our teams to
workday doing? work faster, learn faster, and come up with From software engineer to CEO, how
Fifty percent of my day is devoted to the hir- solutions quickly. Small teams communicate did you develop your leadership style?
ing process. When I interview someone, much easier than large teams. The teams sit I learned from making mistakes. The biggest
I take them to lunch to make sure they are together and go out to a company-paid lunch one new CEOs make is to talk about the spe-
the right personal and cultural fit for our every week, so they have a strong rapport. cific tasks at hand instead of the overall goals
company. I also ask myself, Do I want to work and mission. Since I came from engineering,
with this person for the next two years? In 2012, the Secret Service shut down I loved the technical details and solving
JotForm. How did you respond? problems. So I made the mistake of not let-
New employees are expensive. Whats A user with bad intentions began using ting go. Even worse, I tried to solve the hard
your strategy for growing your staff? JotForm to make phishing forms, asking for problems for people. Those were the fun
Since I was such a bootstrapper from the start peoples passwords and banking information. part, and I was stealing the opportunity from
of my company, I was always making sure that Because one of the Secret Services jobs is them. I also didnt want to upset people, so
when I hired someone, I had money to pay to protect currency, they shut us down for a I sugarcoated my feedback. This resulted in
them for a year. I still do this today. This also few days, and some of our users began to have them continuing to make the same mistakes.
prevented me from making the mistake of problems. We were very quick to reactwe You dont need to be an asshole to give
hiring too many people at once. sent an email to all users within hours, honest feedback. When your doctor tells you
explaining what happened and how to keep not to smoke, he is doing his job. If you want
You have a nontraditional staff struc- their forms online. We were transparent. people to take your feedback to heart, you
ture: Most employees are grouped in And the openness resulted in an incredible need to get them to trust you. To accomplish
four- or ve-person pods. Why do this? outpouring of supportfirst in our blog, that, you need to do some groundwork.
These different, cross-functional teams then in the tech media that covered the news, Show them how much you care about your
each focus on one thinglike user growth, and in comments on social news sites. That product or service. I learned to not beat
for example. A team has a marketing person, convinced the Secret Service that they did around the bush and give my feedback
designer, and developer, so they can all something wrong, and they asked GoDaddy straight and clearly. This way they dont
work on a solution together and execute it to enable our domain. get confused or miss it.
81. TECHNOLOGY SERVICE 87. ASSEMBLE SYSTEMS, 93. DALTON AGENCY, 98. ACCESS MARKETING
PROFESSIONALS, Dallas Houston Jacksonville, Fla. COMPANY, Centennial,
88. TELARUS, Sandy, Utah 94. GRAND TRUNK,
Colo.
82. ADVANCED FRAUD
SOLUTIONS, Kernersville, 89. ARCADIA LOUVERED
Skokie, Ill. 99. SALEMOVE, New York
N.C. ROOFS, Dahlonega, Ga. 95. LORIS ORIGINAL LEM-
City
90
100
83. CLICK RAIN, Sioux Falls, ONADE, Ventura, Calif. QUEST CE, Milwaukee
COOLBLUEWEB,
S.D. Seattle 96. E TAILORED,
84. CLOUDONE, Fishers, Ind. 91. NETLINE CORPORA-
Fort Lauderdale, Fla.
85. SNIPS MEDIA, Chicago TION, Los Gatos, Calif. 97. CULTUREIQ, Short Hills,
92. OMNI CHEMICALS,
N.J.
86. CAMPUS ADVANTAGE,
Austin, Tex. Madison, Wis.
11/16 ENTREPRENEUR 49
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Growing your business takes more than
budget-friendly prices. Thats why we offer the
content, services and expertise you need to
meet your business goals and make more happen.
STARTUPS
10 innovators
TO WATCH
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thetownkitchen.com bitsbox.com leesa.com
The Town Kitchen prepares and delivers Started by two ex-Google employees This fast-growing online company sells
locally sourced, chef-prepared lunches. and dads, Bitsbox is a monthly mattresses to customers in the U.S.
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The company has developed a clean-tech, Founded in 2015, Silvernest is a roommate- HireKeeps job-matching algorithm
eco-friendly retardant that puts out fires matching service for boomers and empty analyzes things like skill-set, culture,
while protecting materials that are often nesters looking to share their extra space. vision, values and compensation to help
destroyed by most current fire retardant companies hire tech talent to grow their
products. EVOLUTION LABS, INC. businesses.
evpco.com
ROCANA Evolution Labs provides schools with a SPLT
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in companies to collect, manage and is a carpooling platform to provide
analyze data that they can then translate BLUECART transportation to under-served markets so
into metrics that help streamline and bluecart.com that anyone who needs transportation can
improve their IT. Launched in 2014, BlueCart uses web and find it.
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PRESENTED BY POWERED BY
2016 Entrepreneur Media, Inc. All rights reserved. 2016 STAPLES. All trademarks and registered trademarks are the property of their respective owners.
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Z160117BR1 3/16
The Right
shiny object
HEAR
ONLY WHAT
YOU WANT
BLOCK OUT THE OFFICE, EXCEPT FOR
THE SOUNDS YOU CANT MISS.
By Seth Porges
PEN OFFICES CAN be hotbeds partner talking directly to you). Heres how:
The
Freight
Fight
Is Over
HOW AN UNDERWEAR
E-COMMERCE SITE SOLVED
ITS SHIPPING WOES.
By David Port
66
ILLUSTRATION BY THE NOUN PROJECT/VICTOR FEDYUK
THE STAT
%
Consumers who prefer digital
rewards systems to old-fashioned
paper punch cards. And youd
better believe that number will
only rise.
Source: 2016 Cox Consumer Pulse on Small Businesses
56 ENTREPRENEUR 11/16
2016 SFNTC (4)
TO DELIVER
more eective you will be. If the investors are interested, theyll
ask questions. If theyre not, then you will have saved them (and
yourself ) some time.
INVESTORS
attention and hold it. Investors are bored with spreadsheets,
valuations and numbers. If they want that information, they can get
it. Instead, oer the story and pathos behind your startup. Everyone
loves a good story, even the most data-driven investor.
DOWN
Great products dont sell themselves. You sell the product. Investors
have to see an airtight strategy for getting the product to market.
Most venture capitalists are well aware of the advantages of digital
marketing and wont take a second glance at a product that isnt
backed by a tactical plan.
4 MARKET IT.
Its essential that you spread the word about your company. You
can create a brand identity and develop a marketing campaign that
workswithout spending a fortune. However, an investment of
your time is required.
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KNOW THIS. By Steph Wagner Private equity funds will invest in, say,
30 companies, knowing most wont pay
FEW MONTHS AGO, in May, the government nally allowed the aver-
outbut betting one or two will hit big. You
age person to become an angel investor. This change was known as
should play the odds as well, even if all you
Title IV of the JOBS Act. Technically speaking, it allowed unaccred-
have is $25,000 to invest. Build a portfolio
ited investorsthat is, individuals who have less than $1 million in
of at least ve investments, and count on
assets, earn no more than $200,000 a year, and are not professional investors
losing your money on one or more of them.
to participate in crowdfunding campaigns in exchange for equity in a company.
Maybe youve already done this, or at least have thought about doing it.
If you lose, claim it.
Is it a good move? That depends. Limit the size of your investment. If youre looking to win big by gambling
You might be able to put money into Many big institutional investors allocate on a few early-stage deals, your odds are
the next Facebookbut the chances no more than 10 percent of their assets worse than the ones youll nd in Vegas.
are low.My fear is that inexperienced to VC funds. Do the same with your (Im not kidding.) But high risks aside, there
investors will more likely bet the farm and personal angel fund. The other 90 per- is one silver lining to losing money on these
lose everything. Now, hey, I know how cent? Keep that in a well-diversied and investments: Those losses may become an
entrepreneurs think: The greater the risk, appropriately allocated portfolio of stocks, ordinary income deduction on next years
the more potential for enormous returns. bonds, and cash. taxes. Thats not the ideal outcome, but this
A lot of VCs think that way, too. But theres is one place where our tax code can help
a smart way to go about it. Before you Vet everything. mitigate the pain.
jump into an investment, consider a few Many private equity funds will look at more
methods used by the private equity world than 1,000 investment opportunities in a Steph Wagner is a private equity investor
to increase your odds. year but give money to only ve of them. and a financial strategist.
fast-forward into the future: concentrate on growing revenue short-term future seriously. Ive expenses exceed revenues
Will you run out of money and keeping your operation run- been particularly impressed which is pretty much every
before you turn a profit? That ning on the cheap. By carefully by how these Y-Combinator startup in historymake sure
means youre default dead. (And monitoring this graph, a default companies know their respective you evaluate and pay attention
if you will escape the red before dead company can track its per- default dead status and its fluid- to this important status.If
running out of cash, congrats: formance on a month-to-month ity. This keeps their teams aware you realize youre going to
Youre default alive!) basis and react to negative that, unless important changes be default dead for years and
This isnt just an academic changes, such as the breakeven are made, their operations right years (or decades, in the case of
exercise. Go ahead and graph date suddenly moving from one now aren't sustainable. They may Amazon), your daily prior-
your monthly expenses and year to two years. even need to chuck their original ity should be running a lean
revenue over time, and find the The VC firm I work for has business model and go in a new operation and soliciting more
point where they (hopefully) invested in two Y-Combinator direction. They understand, investment. Dont bother decid-
intersect and you become companies, and I noticed that better than most startups Ive ing how much to spend on the
cash-flow positive.The amount these startups evaluate this seen, that revenue forecasts five company holiday party.
of money needed to get there metric constantly to help them to 10 years in the future are great Save that decision for the year
between now and profitabilityis prioritize their time and brain- to drool over, but they mean you become default alive.
the amount you need to secure power. After all, few can rely nothing if the money runs out in
from investors or other funding on a bottomless cash hoard like the next two years. Sam Hogg is a partner at Open
sources. And until you can get Uber does with its $8.71 billion So when you find yourself Prairie Ventures and Huron River
that funding, youll need to raised. The rest have to take their starting a company where Ventures.
11/16 ENTREPRENEUR 61
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a modern twist on factoring, which well get into later. In this case,
P2Binvestor gave Freeman a $500,000 credit line. With that money,
heading into the spring, she could aggressively grow her business and
not worry about cash flow. Heres the scoop on this service.
Growing Up
A quick lesson on factoring, which has a history going back centuries.
Traditionally, factoring isnt technically a loan; rather, a company
in need of money (say, one that makes ice cream) sells its customers
orders (from the people who want ice cream) to a financial institution
HAVE MORE DEMAND THAN YOU CAN at a discount (say, 90 cents for every $1 worth of orders). That way, the
AFFORD TO FILL? THIS NEW SPIN ON ice cream company has the money to fulfill the orders, and the finance
FINANCING MIGHT HELP. company is responsible for actually collecting on the invoices.
By Michelle Goodman P2Binvestor works in a similar way, in that it evaluates a companys
invoices. But rather than buy up the orders, it extends lines of credit.
T
HE $510,000 Crista Freeman had raised from angel inves- P2Binvestors annualized rates range from 12 to 18 percent, decreasing
tors served her well: The money helped her Phin & Phebes as a company becomes a safer credit risk. Borrowers sign a one-year
artisanal ice cream reach stores around New York City. agreement on the credit line, with no penalty for early repayment if the
After four years, she was ready to expandbut could barely borrower opens a new credit line with a bank.
afford to do it. Once she buys ingredients, it can take up to six months
for her customers to finally pay her. When the product gets manufac- How it makes scale happen
tured, she says, Im burning through cash. Besides covering operating costs and payroll in a pinch, the credit line
Sure, she could have applied for a loan from a traditional online will help Phin & Phebes sell a projected $2 million worth of ice cream
lender, but those credit lines average less than $250,000. She needed this year to more than 2,000 stores in the U.S.including Whole
more. And she didnt have time to deal with securing a bank loan. Foods, Safeway, and Walmart. Weve been able to grow revenue this
Thats where P2Binvestor helped. Its an online lender that puts year by around 170 percent, Freeman says. Now, that's cool.
How I Saved
Rachel Stelter, brand director,
Winc, Los Angeles
$205,200
Wine-bottle necks are often covered in a wrap; the industry
d stry calls
cal it
i a capsulle.
l
Capsules are made of polyethylene and aluminum, which is hard to recycle. TheThey
ey
are also unnecessary for table wines that will be consumed relatively soon. So,
starting in June this year, we got rid of those capsules on 90 percent of our wines,
saving us $.04 to $.06 off the cost of each bottle. As told to Margaret Littman
Visit entm.ag/platformbuilding
The Art of
profile
RETAIL
ROOMIES
LOCATION CAN
MAKE OR BREAK
A BUSINESS. BUT
NOT EVERYONE
CAN FIND OR
AFFORD DESIRABLE
COMMERCIAL
REAL ESTATE. FOR
SOME, THE ANSWER
IS BUNKING UP
Kate Jotzat
(left) of Chroma WITH A FELLOW
K8 and Jenny
Duranski of ENTREPRENEUR.
Noktivo are By Kate Rockwood
big fans of
co-retailing.
J flood in her eco-friendly nail salon, Noktivo. Shed signed a lease for the Chicago retail
spot just nine months earlier, but as her belly grew, so did issues with the shop: Plumbing
leaked after every rain, and this latest floodcaused by a burst pipewould shutter her
business for weeks. It was an old building, and the landlord never fixed anything, she says. She had
to move, but her savings were depleted. When another entrepreneur, Kate Jotzat, offered to let her
How to
Survive the
Holidays
The most wonderful time of
rent out a room in a hair salon, Chroma K8, Duranski jumped. I was certain it would be temporary, the year is often the most
headache-inducing time for
entrepreneurs. Four business
she says. I planned to stay just long enough for overlap, says Shinola CMO Bridget Russo.
owners reveal their hard-
me to find a location on my own. Thats a common experience at co-retailing learned tricks for making it
Instead, Noktivo found a long-term home. spaces: The businesses really do run separately, to the New Year.
For the past year and a half, the two companies though theres a naturally shared interest.
have shared one retail spacewith separate Noktivo and Chroma K8 even offer cross- Know your limits
My photography business
logos out front plus distinct hours and person- promotions ranging from booking integra-
nel. Duranski still pays the neighborhood aver- tions (make a hair appointment online and a is just me. Its great to
have the option to stay up till
age for commercial retail rent ($50 per square pop-up suggests a manicure) to seasonal deals 3 A.M. designing Christmas cards,
foot), but now it covers utilities, wi-fi, and (a head-to-toe summer makeover). but I also need to know when to
common cleaning. I dont have separate bills And yet, future co-retailers beware: Unless pass on jobs. If someone calls
onDecember 8and wants a
to worry about, she says. And Ive maintained two companies merge into one, theyll always family session, holiday cards
the same amount of sales. Because its a smaller be just dating, not married. Sharing space made, and a big canvas print for
space, Im making moreIve gone from $100 to doesnt mean sharing goals or growth. Its Grandma, I have to say no.
Mary Hanson, Mary Hanson
$600 [in earnings] per square foot. important to be prepared for solo futures and to Photography, Minneapolis
Duranski had stumbled into the entrepre- make sure that customers are never confused
neurs version of sharing an apartment: co- about the arrangement. And, where possible, Set stafng expectations
I run a day spa and bou-
retailing. As the cost of retail spaces continues co-retailers should build escape hatches into
tique. People come in as late
to rise, particularly in major cities, business their leases. Less than two years later, in fact,
as Christmas Eve getting services
owners large and small are increasingly discov- the beauty parlor pair are already on divergent done to look good for the holidays!
ering the benefits of sharing: There are finan- paths: Noktivo wants to open a second location, We have about 12 employees and
try to limit any kind of vacation
cial incentives, of course, but bunking up can but Chroma K8 doesnt. Noktivo is now seeking
afterOctober 31. There can be
also help companies reach new clients and even another partner for its new location. exceptions, but our staff want to
offer opportunities to collaborate. And theres Jasmin Cromwell faced a deeper challenge be here for their clients.
no end to the possible combinations. when her roommates plans changed. She owns Lisa Mergel, Kanvas Beauty,
Tallahassee
The arrangement isnt entirely new: The Bodhi Seed Yoga & Wellness Studio in Mount
in-store caf has been around for years, per- Clemens, Mich., which shared 4,000 square Prepare early
haps most famously with Starbucks providing feet with a bookstore for years. When she first The rst year we opened
a reading space for Barnes & Noble shoppers.
But the in-store caf, too, can take many forms.
When Shinola, the Detroit-based retailer of
signed on, she negotiated terms with her land-
lord: If the bookstore closed and she couldnt
find a new roommate within a year, her land-
our pie shop, we had 88
orders for Thanksgiving, and we
lost our minds. Now its a smooth
operationlast year we shipped
watches and high-end leather goods, wanted lord could find one, but she retained the option 1,500 pies. In October, we build
boxes, start prepping our crust,
to open a New York store with a coffee shop, to vacate within six months if the new roomie and make sure weve budgeted
it approached Manhattan caf The Smile. didnt work out. for our produce and dairy orders,
The cafs owner, Matt Kliegman, was skep- Recently, the bookstore did close. She fret- which go through the roof.
Valeri Lucks, Honeypie Cafe,
tical. You see a lot of coffee shops buried in ted about potential new space-mates. We
Milwaukee
the back, like a retailer didnt have use for have to be sensitive to sounds and smells, or
some corner of the store and convinced some the integrity of my business is at risk, she says. Pick your battles
Our gift-shop return
hardworking entrepreneur to try to sell from Having an auto-supply store next door to a
there, he says. Those never work. But in yoga studio might be hard, but when youre policy is that we do only
exchanges or store credit.
2013, Shinola offered prime, front window sharing a space, its impossible. Sometimes customersnevera
space for a grab-and-go caf Kliegman dubbed She lucked out: The Loft Fine Art opened on regularwill demand a refund. If
Smile Newsstand. He now has access to a much the other side of her space this summer. The theyre going to make a scene or
write a really negative Yelp review,
larger customer base. And while caf foot traffic owner used to come to yoga all the time, she its easier to do the refund and
doesnt always translate to watch purchases, it says, pleased about her new neighbor. I think move on. Having someone write
does bring fresh awareness to Shinola. Fast- art and yoga do have something in common. about a bad experience, you
cant win that back.
forward three years, and there are custom- And now the entrepreneurs have something in Brandy Deieso, The Little
ers just for them, just for us, and those who common, too: an address. Apple, Philadelphia
68 ENTREPRENEUR 11/16
expert advice
In my free time, I am at We carry a little of To always pay our invoices
wineries, meeting producers, everything and not a whole on time, we played it safe to
tasting, and committing it all lot of a few things. Better to startordering very minimally
to memory. Translating that reorder a great-selling product and relying on our customers
into recommendations for than have 12 bottles sitting on to give us feedback on which
customers is an art. your shelf with no movement. wines to carry.
LEAT N IN OLD
A
H
SMOER CHA
A 35%45%
A CI K ING IR
The typical margin on a bottle of wine.
G AR
$20,000
How much a wine shop should aim
to make in sales per week.
No one likes generic wine descriptions, and In some states, a retailer must sign a lease
70 ENTREPRENEUR 11/16
~ OMAR ZAKI
Allstate Agency Owner since 2007
Subject to all terms and conditions as outlined in the Allstate R3001 Exclusive Agency Agreement and Exclusive Agency program materials. Allstate agents are not franchisees; rather
they are exclusive agent independent contractors and are not employed by Allstate. Allstate is an Equal Opportunity Company. Allstate Insurance Company, Northbrook, IL. In New
Jersey, Allstate New Jersey Insurance Company, Bridgewater, NJ. 2016 Allstate Insurance Co.
FIRST
COMES
LOVE, THEN
COMES
LAUNCHING
A BUSINESS
COFOUNDERS OFTEN JOKE THAT THEIR RELATIONSHIP IS AS COMPLICATED
AS A MARRIAGE. THREE COPING TECHNIQUES FOR WHEN YOUR COFOUNDER
IS YOUR BETTER HALF. By Kate Rockwood / Illustration by SHOUT
72 ENTREPRENEUR 11/16
11/16 ENTREPRENEUR 73
H
eather and Allan Staker used to have date nights. Then the
married couple launched a startup together. Friday date night would
turn into eating Indian food in front of our laptops, Heather says. I was
starting to feel overwhelmedwe were always together, but we were
always working. I went to see a life coach, who told me, Youve got to
stay in love with each other, apart from your business. So they came up with a rule:
No computers on date nights. It wasnt easy, but they stuck to it. And with technology
banished, their special dinners became a time to connect and talk as spouses rather
than as cofounders. Their online educational program, Brain Chase, could wait.
The benefits of starting a business with a loved one seem obvious: and educational goals of the company, and Allan took on the day-to-
Youre working with a person you trust, and whom you already know day operations.
you enjoy spending time with. There are plenty of high-profile success Daniel Van Der Vliet, executive director at the Smith Family
storiesCisco, Eventbrite, Popsugar, ModCloth, and SlideShare were Business Initiative at Cornell University, says this is a critical first
all started by couplesto serve as inspiration for marrying business stepand not just because it makes the couple more efficient.
and love. But even the best partnerships can be strained by the stresses Someone has to take the leader role, he says. That doesnt mean
of running a business. Finding dedicated time for a relationship when theyre more valuable than the other person, but it creates a sense of
there are shared work responsibilities to be delegated, staff to be order and responsibility. And divvied domains also make it harder
managed, and conflicts to be resolved is no joke. And thats why when to get played against one another. Employees will quickly figure out
things go wrong, perhaps nobody has it worse than partners who are who the pushover is and approach that person, says Muske. But you
both in love and in business: The stakes can be so much higher. should divide the areas of expertise and then avoid stepping into the
Its not utopia for everybody, says Glenn Muske, a professor at other persons side.
North Dakota State University who has tracked the same group of Mariah and Sam Calagione did just that when they launched
200 partnered cofounders (or co-preneurs) since 1997. We find that Dogfish Head Brewings & Eats in Rehobeth Beach, Del., back in 1995:
co-preneurs feel theyre more successful, both in business and in their Sam focused 100 percent on getting the brewery off the ground, while
personal lives. But you have to go into it with your eyes wide open. Mariah helped run the dining room. They also proceeded within their
own comfort zones, which allowed each of them to work on Dogfish
1
Head without regrets. Im more risk-averse than Sam, who always
START WITH A PLAN wants to go gangbusters, says Mariah. For the first two years, I had a
job with a steady paycheck and insurance, and I worked at the restau-
For many couples, starting a business together feels natural: The rant on nights and weekends.
idea likely came out of their own relationship. In the Stakers When Mariah finally joined the brewery business full-time, she
case, Brain Chase began as the duo brainstormed ways to keep their stepped into marketing with Sambut the business couldnt afford
five kids engaged over an upcoming school break. Heather had a full-time HR or payroll person, so those duties fell to her as well.
worked in education and knew that most children regress as much She did 10 points better on her math SAT than I did, so her job was
as two months during summer vacation. She suggested creating a accounting, Sam says. (Thats a joke.) As the company grew, they
Google doc of the best online activities and challenging their kids to discovered that sharply defined roles were even more importantnot
complete them. Allan started riffing: What if the Google doc was an just for their marriage but for their employees as well.
app that could stitch together different programs? From there, the We didnt want to create a scenario where none of the employees
ideas flowed: A prize at the end! Get the neighborhood kids involved! understand the difference between the two of us, says Mariah. Or if
For Fathers Day, Heather gifted Allan three nights of solitude in they dont like what Mom has to say, theyll go ask Dad.
a hotel room to hammer out the business plan while she took care of
2
the kids. Just after, Brain Chase secured its first investor. The couple
raised $500,000 and took the company live in 2014, and has since had KEEP IT PROFESSIONAL
more than 6,000 kids sign up to learn.
But while they shared jointly in the idea, they were aware that Unlike the Brain Chase and Dogfish Head founders, Heidi
they couldnt share every duty. From the start, we knew we wanted Zak and Dave Spector both decided to go all in when they set
a division of labor, says Allan. Heather handled the high-level work out to launch the San Franciscobased bra and underwear company
74 ENTREPRENEUR 11/16
CONTACT US TODAY!
Mariah and Sam Calagione of Dogfish Head.
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50% Off Reduction of Initial education experience required.
to me as a franchise owner is
Franchise Fee Veterans excel at Huntington because of knowing that my destiny is in
their expertise in implementing systems my hands
Low initial investment, no previous investing in Huntington means investing in Shawn Livingston,
education experience required a system with over 39 years of success. US Army Veteran &
Huntington multi-unit owner
CONTACT US TODAY!
1.800.653.8400
Email us at: Franchise@HLCmail.com
Visit us at: HuntingtonFranchise.com
The criteria for owning a Huntington franchise if you are a US Veteran or Active Duty Service Member are the same as those for any prospective franchiseeNet worth of $150K, Liquid Capital of
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76 ENTREPRENEUR 11/16
environment so it feels more professionallike having a work ward- conversation by then and just pick it up again in the morning.
robe or a coworking space rather than just your couchcan naturally For others, the marriage becomes all about the workand that
curb some of that cutesy behavior, she says. can be OK, too. An added benefit of married business partners is not
Still, Zak and Spector never shy away from drawing attention to being nagged on the weekend or on vacation to unplug, as spouses
their marriage when talking with investors. Recent successes have often do. A cofounder gets how impossible that isand theyre right
warmed VCs to the idea of cofounders who balance business and there next to you, clicking through emails.
a relationshipsome investors even say married cofounders can Its ridiculous to try to keep your business and your personal life
actually snag more love from venture capitalists. That certainly seems separate, says Marshack. And the truth is, if you dont focus all your
to be true in the case of ThirdLove, which uses advanced image- energy on your company when youre starting out, it runs more risk
recognition technology to help women find their ideal undergar- of failing. But that doesnt mean a free pass to shelve your personal
ments. It launched with $5.6 million in seed funding and closed an time, she points out. Go ahead and work together, commute together,
$8 million Series A round in February. Pretty great for an app that take work calls on vacation. But also make plans to do things other
matches women with the perfect bra in the perfect sizejust take a than work. Tack a day of vacation onto that conference; schedule an
picture of your torso. outing. Says Marshack, Work will come up, but dont view it as bad.
And dont neglect big-picture planning. Van Der Vliet urges
3
coworking couples to imagine where their businessand their
SET EXPECTATIONS EARLY relationshipcould go in the future. As difficult as it is, sit down and
talk through: What if one of you doesnt want to do this at some point?
Before pouring all your coupled energy into a budding busi- What if you make millions and want to sell? What if you dont? What
ness, its important to set parameters of where work ends and if one of you dies? What if you run out of money? he says. Putting
where life begins. For the Stakers, the no-laptops-on-date-night rule these things in place doesnt mean its going to constrain you. These
was a romance (and sanity) saver, and it inspired additional at-home are situations every business might face sooner or later, whether its
rules. We usually start fighting if we talk about anything related to hypersuccessful or a terrible failure.
work or money after9 P.M., Heather says. So we try to shut down the Either way, your co-preneurs got your back.
5.6
Your best opportunity for business ownership lies within
the $142 billion staffing industry. If youre ready to
keep more of what you earn and control your career
path, consider Express Employment Professionals.
Right now Express offers veterans 50% off the franchise fee
when they are awarded a new Express franchise location.
11/16 ENTREPRENEUR 77
Growing a
Humberto
Gomez,
a Marine
Reservist,
found a new
challenge.
franchisee
80 ENTREPRENEUR 11/16
Service + Duty + Leadership.
IT ALL ADDS UP
Follow the Liberty system and
you should be successful
Joel Vance, Liberty Tax franchisee
USMC / Navy Veteran
*Source: sba.gov
franchisor
Overstock
for All
How MODE, a growing new
franchise, was inspired by an
unexpected delivery.
By Jason Daley
CIARA STOCKELAND started her retail career with a little Consumers loved getting these outlet deals. I took a step back and said,
maternity boutique in her hometown of Fargo, N.D. In 2006, about a This works and makes moneyits probably a smarter way to go, she
year after she opened, a trucking company reached out for help: It had says. So she ditched her boutique and, because pulling random goods
accrued a couple of semitrailers full of overstocked merchandise and off semitrucks isnt a solid business model for anyone, began purchas-
needed to offload it. I rarely say no to an opportunity, says Stockeland, ing extras directly from designers and manufacturers. Her new con-
who promptly set up a pop-up shop next to her fancier store to sell this cept, which she called MODE, offered 70 to 75 percent off designer
random assortment of goods: shoes, clothing, accessories, and house- retail. It resonated with customers, and by 2010, she began franchis-
hold items. She put it all out in cardboard boxes on folding tables. ing. Now MODE has 10 stores in the upper Midwest and one in South
And then an unexpected thing happened: People ransacked the bins. Carolina, with plans to reach 75 units by 2024.
You have what it takes to be successful, and Big O Tires has the industry-leading knowledge and
resources to help get you there. Enjoy the freedom of operating your business independently while
leveraging the support, resources and established brand recognition of a multi-million dollar network.
More than 50 years of experience in the tire & automotive service industries
Proven business expertise and strategy designed to exceed customer needs
Premium buying power of hundreds of locations
Nationally-recognized franchise networking
This advertisement does not constitute an offer of a franchise. A franchise offering can be made
by us only in a state if we are rst registered, excluded, exempted or otherwise qualied to offer
franchises in that state, and only if we provide you with an appropriate franchise disclosure
document. Franchises are not available in all states.
www.bigofranchise.com
877-890-5874
82 ENTREPRENEUR 11/16
MODE is reminiscent of an outlet mall. Fargo down to Texas. We feel our concept really fits the
Whats different? Midwest consumer. These are people who want to be
Consumers are really disappointed with outlet malls; stylish but are very thrifty or economically savvy. I think
theyre not what they used to be. Companies are man- well find MODE shoppers everywhereconsumers who
ufacturing cheaper products just for the outlets. Our can afford $180 jeans but are very practical people and
consumers are getting real designer productsthe same conservative spenders.
denim jeans designed for the high-end shelf that were
supposed to be $180 but are $40 at our store. Jeans, jeans, jeans. Whats with
the denim obsession?
So, is this returned merchandise? I wanted to develop something that set the brand apart.
Or last years styles? And I knew we were going to have a lot of denim at a
No; everything we have is brand-new. There are sev- price point no one else did, so I trademarked the phrase
eral ways we find inventory. Retailers buy their clothes Home of the $40 designer jean. Denim shopping is like
months ahead and project what they need, but some- swimsuit shopping; women hate it. Unlike boutiques,
times they have a slower season than anticipated and which carry only small sizes, we have sizes 0 to 22. We
cancel shipments, which we buy from the manufacturers. always have 300 pairs
Sometimes there are overruns from brands that did well on the floor at every
PHOTOGRAPHS COURTESY OF MODE
last year but arent as big a deal this year. There are also storein Fargo, we
designers that go out of business or rebrand and need to have 500. I like to
sell off inventory. Im adding to the list of designers and think of it as our $5
manufacturers we work with weekly. footlong; everyone
knows we have it,
Who are your primary customers? even if they decide to
Were targeting the people along the I-29 corridor from buy something else.
11/16 ENTREPRENEUR 83
Veteran Angela
Cody-Rouget relied
on many vet-specific
programs to help her
rebrand and expand
her franchise, Major
Organizers.
84 ENTREPRENEUR 11/16
NOW
R E CR UI TI NG:
VETREPRENEURS
A surge of new programs is helping veterans transition into
civilian entrepreneurshipand especially franchising.
By Jason Daley Photograph by Pieter Henket
11/16 ENTREPRENEUR 85
AIR FORCE MAJOR ANGELA CODY-ROUGET of services has developed to assist people
was once responsible for Americas nuclear exactly like Cody-Rougeteducating, fund-
arsenal. She was a missile launch officer, ing, and mentoring vets turned entrepre-
stationed inside an underground control neurs to help them succeed in businesses, and
center. The job required a mastery of endless franchising in particular. The federal Small
systems and protocols, and she felt shed Business Administration (SBA) has a robust
gotten a lesson in organized chaos. So when program; its two-day Boots to Business basics
it was time for her to transition into civilian course is offered on military bases and has
life about a decade ago, she decided to play to been attended by 20,000 troops transitioning
her strengths: Shed build a business around out since 2013. Overall, there are now more
being organized. than 14,000 organizations, universities, pri-
When I got out of the military, she says, vate philanthropies, and nonprofits helping
I just walked away. She had her eye on veteran entrepreneurs in the United States.
private industry and figured the government The momentum can be felt even in
would be of no help. In 2006, she launched typically slow-moving corners of govern-
a company called Major Mom. It began as ment: In 1999, Congress passed the Veterans
a fleet of professional organizers across Entrepreneurship and Small Business
Colorado and Arizona, who go into homes and Development Act and rolled out 13 regional
liberate them from their mess. As her com- Veterans Business Outreach Centers (VBOC)
pany grew, she wanted guidance on how to across the U.S. These spaces offer training as
expand it into a national franchiseand thats well as connections to mentors and financ-
when she discovered that her initial assump- ing. In the coming year, six more centers are
tion was wrong. The government, in fact, was expected to opena 46 percent increase.
trying to help its veterans set up businesses. I didnt know the SBA and other groups had
And so were many other organizations. veterans programs, says Cody-Rouget. But
In the past decade, a wide-ranging network once she discovered them, she quickly enrolled
in multiple classes and began growing Major
Mom into something even bigger.
Mike Francomb, senior VP of development at
RecruitMilitary, connects vets with franchise brands.
AS A GROUP, VETERANS HAVE long been
known for their entrepreneurialism. Theres
good reason: Vets are disciplined problem
solvers and have learned to thrive within rigid
systems. According to one study, 49.7 percent
of World War II veterans started their own
small businesses, 40 percent of Korean War
veterans became entrepreneurs, and 33 per-
cent of Vietnam vets have owned or operated
a business. But until recently, veterans had to
use civilian business resources.
Todays generation of vets is entering a
different world. Misty Stutsman, director
of the Center of Excellence for Veteran
PHOTOGRAPH BY MIKE BUCKMAN
86 ENTREPRENEUR 11/16
real.) There was no one trigger for this but, Many programs also focus on educa-
WANT TO
rather, a confluence of cultural events: Were
living in a startup-friendly culture and seeing
a surge in outreach programs focused on
tion, providing the necessary skills to run a
business while helping vets navigate the gray
areas of the business world after living in a
ENJOY WORK
post-9/11 veterans. These two worlds have
collided, and you see more and more support
structures popping up, says Stutsman.
black-and-white military system.
We work with them on pivoting. We
teach them to know when they are failing,
& LIFE?
Approximately 200,000 people now rotate
out of the U.S. military every yearwhich
to fail fast, and then to make a pivot, says
Alexces Bartley, outreach program manager
WITH PUROCLEAN
translates to a lot of qualified job seekers.
Many decide to create their own jobs. The
for the Riata Center for Entrepreneurship
at Oklahoma State. Its 12-month boot camp,
YOU CAN!
SBA says about one in 10 small businesses which includes an online component and
today in the U.S. is launched by a veteran. weeklong residency, helps vets in matters big
A lot of vets enter franchising. The fran- and smallfrom developing business concepts
chise world has embraced vets intangible to feeling at ease with civilian chitchat. They
attributes that help in business, says Mike need to be self-aware enough to know what
Francomb, a West Point graduate who served isnt working and what the next option is.
as a field artillery officer in Operation Desert Often, vets in these programs discover
Shield/Storm. Hes now senior VP of devel- lessons they didnt even realize they had to
opment for RecruitMilitary, a company that learn. I thought Id just jump into business,
connects vets with franchise brands and job says Jeff Gural, a former Marine, longtime
opportunities. Another helpful organization member of the National Guard, and police
is VetFran, an initiative of the International officer. He finally left the military this year,
Franchising Association, which offers reduc- three years after hed started his path to
tions in fees and discounts on equipment, and entrepreneurship. He began by enrolling in a
even helps secure financing at more than three-month Veterans Launching Ventures
650 franchises. (Opportunities vary by indi- course at Fairleigh Dickinson University, in
vidual franchise but can be valuable. Among Teaneck, N.J. It taught me that a business
them: Little Caesars pizza waives its $20,000 plan is the crux of an entire business. It helped
franchise fee for disabled vets and offers a decide what kind of company I wanted to start
$10,000 equipment credit, and JDog Junk and exactly what I needed to do. With that
Removal hires only veteran franchisees.) information in hand, he bought a Signal 88 !)>)>O>>>
D>ZQD8D mD^Q8) IN THE
$18 BILLION RESTORATION
RESOURCES FOR INDUSTRY
VETERAN ENTREPRENEURS
To nd free resources and educational programs, loans, grants, business plan
competitions, and mentors, vets can begin by calling their regional VBOC.
11/16 ENTREPRENEUR 89
Security franchise in Camden, N.J., which
provides security personnel for events, private
companies, and facilities. Its a business that
suits his blend of his military and police expe-
rience and newly acquired business skills.
BE YOUR
month classroom-based leadership course.
All the programs Ive done offer these
nuggets of wisdom that I didnt know before
going through them, Cody-Rouget says. But
she credits V-Wise (Veteran Women Igniting
OWN BOSS
the Spirit of Entrepreneurship, at Syracuse)
with being the most influential of them all.
It offered an online course on the basics of
entrepreneurship, along with a conference
full of training modules and presentations
by female CEOs. The experience stuck with
her; she and her fellow participants stay in
Let us help guide touch, giving each other advice as they build
your first three their businesses. I didnt know I needed it till
I had it, she says. V-Wise was the first place
years of business someone told me I had a billion-dollar idea.
No one had ever said anything like that to me.
with the best- As a result of all this assistance, Cody-
selling business Rouget began franchising last year, and this
year she gave Major Mom a major rebrand,
guide of all time. becoming Major Organizers. Her first
franchise owner is (of course) a fellow veteran
in Ohio. Now she hopes to expand across the
country. I think Ive gotten my payback, she
visit entm.ag/startyourownbusiness
90 ENTREPRENEUR 11/16
Rene Cathy
Since 2007
320+ Franchises - Market Leader
89,300 to 143,300 Investment Range
8,500+ Original Copyrighted Paintings
No Art Experience Necessary
985.626.3292 paintingwithatwistfranchise.com
FRANCHISE SPECIAL ADVERTISING SECTION
BE A SMALL-BUSINESS HERO
IN YOUR COMMUNITY
Thanks to invaluable experience, training and discipline from the military, veterans have
the foundation for becoming successful small-business owners. Explore new ways to make
entrepreneurship your next mission with the franchises featured in this section, many of which
iLoveKickboxing.com | Fitness
NOT JUST ANOTHER BATH & KITCHEN FRANCHISE just the drive to succeed
130+ franchises in the US and Canada
#1 in Surface Renishing the largest sales records, including a 70% increase in We dont expect you to personally renish
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When buying any franchise, its smart to join manage and develop your business. While
the leader in their respective industry. Its A diverse revenue stream you will learn and understand the process of
also smart to be sure its an industry with We have a strong and diverse revenue renishing, you will spend most of your time
surging customer demand. Miracle Method model. Our primary focus is repairing & selling and managing, rather than doing the
is in a unique position to offer both of these renishing bathtubs, showers, tile and actual work.
scenarios to you. countertops. In addition, we have developed
a complete Bathing Safety program that Highly motivated and driven to succeed?
No other surface renisher can match our resonates with the elderly and caregivers Lets talk!
size, expertise or capabilities. Only Miracle alike. On the commercial side, we have We are selective in who we choose as
Method is positioned to take advantage of the seen a huge increase in the demand for our our franchisees. Our ideal candidates are
skyrocketing demand for surface renishing. products from hospitals, universities, hotels, motivated, are able to follow processes
assisted living facilities and airports. & procedures, and can manage & grow
Want proof of the demand? a business. When strong, like-minded
Ask your friends! Value, potential and scalability franchisees make up the Miracle Method
Ask 10 of your friends if they would be Within the Miracle Method network, we have network, the entire company wins.
interested in learning about a fast & several franchisees exceeding $1 million in
affordable solution to making their ugly annual sales, and some surpassing $2 million Contact Miracle Method today to learn more
countertops, bathtubs and showers beautiful and they all started with our comparatively about our unique business opportunity.
again. Youll quickly realize how much small investment of $85-$125K. These
demand there is for renishing. Plus, think leading franchisees started with two
of the nearly unlimited growth opportunity technicians, followed the Miracle Method
every home and business in your market is a systems & processes, and continually FOR MORE INFORMATION
potential customer! reinvested in their business.
John Tubiolo
People like saving money, especially when Training and ongoing support
upgrading their kitchens and bathrooms. For the past 37 years, Miracle Method
Since 1979, over 1,000,000 homeowners and has been continually developing and P: (877) 434-5096
business have chosen Miracle Method for improving our systems & processes for
our money-saving, time-saving alternative protably growing a renishing business. E: sales@miraclemethod.com
to the mess and hassle of replacing their old We provide the highest level of training in Learn how easy it is to get started in
bathtubs, countertops, and showers. The the surface renishing industry, we call this the
W: travel industry!
MiracleMethod.com/franchise
proof is in our numbers: we continue to set immersion training.
2016 Miracle Method US Corp. Each Miracle Method franchise independently owned and operated.
FRANCHISE ADVERTISEMENT
Why own just one store when you can As a Jani-King master franchise owner, their portfolio this year by purchasing
own rights to the entire city or even your your professional support office the rights to Colorado.
state? With Jani-Kings master franchise provides training, sales, operations
program you are granted an exclusive, support and administrative assistance Several other master franchisees from
dened territory that includes multiple to unit franchisees whose business it is around the world have purchased
counties or the entire state. This to oversee the cleaning of the buildings. rights to entire countries. In Canada,
incredible, proven franchise business From your office, you can grow your Murray Oxfords path with Jani-King
opportunity gives the master franchisee territory and help franchisees build took him from a unit franchise owner to
the ability to establish a regional their businesses. This is not only an a master franchise owner to eventually
office that sells individual Jani-King opportunity for you to build a successful purchasing the rights to all of Canada
unit franchises, provides training and business, but its an opportunity to help (minus Toronto).
support to unit franchises, and secures other entrepreneurs achieve their goals,
cleaning contracts. a truly rewarding experience. In fact, Dont miss out on this exclusive
Jani-Kings master franchise program opportunity to purchase the rights
Why invest in the commercial cleaning is so popular that over 40% of current to some of the last remaining U.S.
industry? This is a service industry master franchise owners have invested territories for sale. Currently, Jani-King
proven to generate recurring revenue in multiple territories. has regional support offices in 87 U.S.
and which offers unlimited opportunity markets and the list continues to grow.
to grow. Every city contains some, if Master Franchise Owner Debbie New and existing corporate-owned
not all of the following buildings that Sinopoli is just one shining example of territories are for sale now; contact
demand regular cleaning services; success in the Jani-King system. Ms. Jani-King today to see if you qualify
Sinopoli purchased her rst of ve to be selected as our next Master
Individual office buildings and master franchise territories in 2003. Franchise Owner.
office parks At the time, the single territory was
generating $2.2M in annual revenue.
Hospitals and medical facilities
Now, her ve territories combined
Hotels and resorts consist of 150 unit franchisees cleaning FOR MORE INFORMATION
Schools and universities 1,300 customer locations. Her total
annual revenue in 2015 was over Gil Sanchez
Stadiums and event facilities $20 million. Vice President, Jani-King Franchising, Inc.
Retail centers and restaurants P: 972-991-0900
In 2015, Mike Biggs and Gil Sanchez,
Auto dealerships along with their wives, purchased the E: gsanchez@janiking.com
Manufacturing facilities and more rights to Des Moines, IA, a brand new
territory. After getting Des Moines up
and running, they have since added to
FRANCHISE ADVERTISEMENT
Owning a PIRTEK franchise is now This new program supports our The company is offering U.S. veterans a
easier than ever. standard franchise offering by providing $5,000 discount off of the initial
current franchisees a new avenue for franchise fee if they participate in the
The worlds leading uid transfer solutions growth and expansion, said Glenn Tier 2 program.
company has recently rolled out its Tier 2 Duncan, executive director of PIRTEK
program to help more entrepreneurs start International. In addition, it opens the The only franchise of its kind in the United
franchises. The unique program provides door to business ownership for a wider States, PIRTEK provides hydraulic and
a more accessible entry for individuals group of new entrepreneurs. industrial hose replacement sales and
who may have not met all the resource services. There are 58 PIRTEK Service
requirements for a standard franchise, The standard, Tier 1 model will continue & Supply Centers and a eet of Mobile
which includes a Service & Supply Center to exist alongside the new program. Service Vehicles throughout the United
and multiple Mobile Service Vehicles. Franchisees under the Tier 2 plan will States. Globally, PIRTEK has more than
Under the Tier 2 program, PIRTEK is now have full access to the training and 400 locations and 2,000 Mobile Service
offering a mobile-only option to start. administrative support from corporate Vehicles in 23 countries around the world.
The Tier 2 franchise is then on track to headquarters the same that all other
grow into a standard, Tier 1 franchise in PIRTEK owners currently enjoy. To learn more about the new PIRTEK
three years. franchise program, visit www.pirtekusa.
Spreading out the Cost com/franchising-opportunities, call 1-888-
Reduced Start-up Costs The goal for each Tier 2 franchisee is to 774-7835 or email kferretti@PirtekUSA.com.
Previously, there existed only one set acquire a third vehicle after the rst year,
of requirements for PIRTEK franchise along with a fully staffed and outtted
ownership, including a $50,000 franchise Service & Supply Center at the end of
fee for three Mobile Service Vehicles and three years. The franchisees exclusive
a fully staffed Service & Supply Center. But territory will expand with the acquisition
the new program enables entrepreneurs of each Mobile Service Vehicle. FOR MORE INFORMATION
to access one of the countrys top B2B
franchises at a much lower point of entry This is the equivalent of spreading Steve Morris
a franchise fee of only $20,000. Instead out the full entry cost over a three- Franchise Director
of setting up a service center, a franchisee year period, rather than investing it all PIRTEK USA
can get started with just two vehicles and up front, Duncan said. An aspiring
a place to store inventory. franchisee is now able to build up a P: (321) 504-4422
customer base and get a better idea E: smorris@pirtekusa.com
Another benet of Tier 2 is that it accepts of where to locate the service center W: www.pirtekusa.com
franchisees with a net worth of $250,000, later on. The Tier 2 program provides
much less than the Tier 1 requirement. entrepreneurs with a lot of advantages.
FRANCHISE ADVERTISEMENT
ABOUT ILOVEKICKBOXING
ILKB is a boutique tness concept that
takes the bag-hitting, calorie-busting
workouts of pro ghters & makes them
fun & accessible to anyone.
No unit closures.
Not a single iLoveKickboxing has
ever closed to date
They dont buy up big ad space. Theyve We pioneered a multi-layered online We researched many other franchises,
had minimal publicity. Yet iLoveKickboxing, and offline marketing funnel that drives and every third or fourth call youd
a boutique tness kickboxing concept, memberships right to our locations make, youd get someone who regretted
is currently the fastest-growing tness doors, and they never have to lift a nger. purchasing that franchise. With
franchise in the nation, selling about 643 You dont have to suddenly become a iLoveKickboxing, we never ran into that.
units in the past 24 months with no signs marketing expert to own our franchise as Not a single person said they regretted
of slowing down. This number can change you do with many others. We handle about it. They said they wished theyd found it
on a weekly basis. How is this possible? 95% of all marketing for every franchise, sooner, stated one franchisee.
What about this franchise is so appealing so they can focus on having fun.
to entrepreneurs nationwide - including Territories are disappearing every
those who never even considered a And nally, we have systems in place for day, stated Director of Franchise
tness franchise prior to iLoveKickboxing? semi-absentee and absentee ownership. Development, Scott Ferrari. Now is the
That way, if you so desire, your franchise time to reach out and get on board while
The answer to that is two-folds I think, can run itself without you ever needing to theyre still available.
stated founder and CEO, Michael be there. Thats why no tness experience
Parrella. In short: We researched what is required.
entrepreneurs really want in a franchise,
and we created it. Another factor contributing to the growth FOR MORE INFORMATION
is current owner validations. When
That led to a few key points. The rst: prospective franchise candidates do
great unit economics with a low initial their due diligence and call around, they iLoveKickboxing.com
investment. You dont need to buy hear nothing but glowing praise for the
treadmills or any expensive machinery concept. The individuals making these P: (516) 882-7182
like that. Kickboxing is simple: mats on validation calls are attorneys, CPAs, and
the oor and heavy bags are the only corporate executives with backgrounds in E: FranchiseInfo@iLoveKickboxing.com
equipment you need. Next, we solved research as well. Yet despite their more- Learn how easy it is to get started in
the biggest problem businesses face: than-thorough efforts, they just cant seem W: www.myilovekickboxing.com
the travel industry!
getting new customers. to poke holes in iLoveKickboxing.
take your business from
startup to game changer
Investor and successful entrepreneur Richard Koch and venture capitalist Greg Lockwood have
spent years researching what makes successful companiessuch as IKEA, Apple, Uber, and
Airbnbachieve game-changing status. The answer is simple: They Simplify.
visit entm.ag/simplify
the list
TO SERVE YOUR
COUNTRY
The top 100 franchise opportunities for veterans.
I
N 1991, DON DWYER SR., founder of The Dwyer Group fran- Ambrozewskis, owners of an Anytime Fitness gym, profiled on page 100.
chise system, wanted to honor military members returning from As VetFran celebrates its 25th anniversary, we present our list of
PHOTOGRAPH BY GETTY IMAGES/FUSE
the first Gulf War and assist them with the transition to civilian life. the top 100 franchises offering incentives for veterans, listed in order
His answer was VetFran, a program designed to offer discounts, men- of their ranking in Entrepreneurs 2016 Franchise 500. Keep in mind,
torship, and training to veterans seeking to become franchise owners. though, that this list is not intended as a recommendation of any par-
To date, Dwyers creation, which is now run by the International ticular franchise or veterans program. No matter what incentives to
Franchise Association, has helped more than 6,500 veterans to become ownership are being offered, always do your homework before invest-
franchisees. And the 650-plus franchisors who participate in VetFran ing: Read the companys legal documents, consult with an attorney and
have found that veterans, with their leadership skills and disciplined an accountant, and talk to existing and former franchisees to find out
training, make ideal additions to a franchise system. Case in point: the whether the opportunity is right for you.
11/16 ENTREPRENEUR 99
1Supercuts
The Perfect Fit
Hardees
Hair salons
2016 Franchise 500
6 Burgers, chicken,
biscuits
rank: #3 2016 Franchise 500
Startup cost: rank: #12
$144.4K$293.8K Startup cost:
Franchise fee: $29.5K
Total franchises/
$1.4M$1.9M
Franchise fee:
ANYTIME FITNESS AWARDS A
co.-owned: $25K$35K MILITARY COUPLE WITH THEIR OWN GYM.
1,607/1,049 Total franchises/
Incentive: $2,500 co.-owned: 2,028/118
rebate on rst-store Incentive: 50 percent By Tracy Stapp Herold
franchise fee off franchise fee
T
ristan and Hannah Ambrozewski Ambrozewskis received an additional
2 Subway
Subs, salads
2016 Franchise 500
7 GNC Franchising
Vitamins and
nutrition products
met and married while in the Army. $125,000 loan. The company also waived its
rank: #5 2016 Franchise 500 When it was time to figure out what franchise, enrollment, royalty, marketing,
Startup cost: rank: #15
$116.6K$263.2K Startup cost:
came next after seven years in the military, and advertising fees.
Franchise fee: $15K $192.1K$354.2K they knew fitness was going to be part of With the money, the Ambrozewskis
Total franchises/ Franchise fee: $40K
co.-owned: 44,702/0 Total franchises/
it. Were both big into working outit opened their gym in Fort Bragg, N.C., on
Incentives: Franchise co.-owned: was instilled into us in the military, says April 5 this year. Six months later, they
fee waived if opening 3,238/3,506
on a military/govern- Incentive: 50 percent
Hannah, who retired from the Army in 2012. enrolled their 900th member. Hooah!
ment location; 50 off rst-store After trying out a Fit4Mom franchise,
percent off franchise franchise fee
fee if opening on
they realized they wanted to own and run What was your initial interest in
nongovernment something bigger. The problem was they Anytime Fitness?
Sport Clips
location but receiving
government nancing 8 Mens sports-
themed hair salons
didnt have the funds to pursue their dream
business, an Anytime Fitness gym. But then
Tristan: Working now as a Department of
Defense contractor, I travel a lot, so Ive tried
2016 Franchise 500
7-Eleven they heard about Operation Heartfirst, an out gyms all over the country. I loved the
3Convenience stores
2016 Franchise 500
rank: #16
Startup cost:
$183.3K$351.5K
annual $125,000 grant for a veteran to open Anytime Fitness concept. Some of the big-
rank: #7 Franchise fee:
an Anytime Fitness franchise, funded by box gyms can be very intimidating for some
Startup cost: $25K$59.5K Anytime Fitness cofounders Chuck Runyon people, but Anytime works for everyone.
$37.2K$1.6M Total franchises/
Franchise fee: co.-owned: 1,528/32
and Dave Mortensen, several hundred Any-
$10K$1M Incentive: 20 percent time Fitness franchisees, and the nonprofit What else have you learned from
Total franchises/co.- off franchise fee
owned: 59,004/505
Tee It Up for the Troops. your gym tryouts?
Incentives: 10 to 20 After submitting essays and going Tristan: The gyms that are extremely suc-
The UPS Store
percent off franchise
fee; special nancing 9 Postal, business,
printing, and commu-
through a series of interviews, the couple
were notified in June 2015 that they were
cessful are the cleanest and friendliest. Pur-
suing both has been key for us. Every part of
nications services the winners. In addition to the grant, the the gym needs to be perfect.
Dunkin Donuts
4 Coffee, doughnuts,
baked goods
2016 Franchise 500
rank: #17
Startup cost:
Hannah: To do that, Tristan
2016 Franchise 500 $159.2K$434.5K
comes in around 4 A.M. every
rank: #8 Franchise fee: day and cleans the gym before
Startup cost: $29.95K
$228.6K$1.7M Total franchises/
heading to work. Then Im there
Franchise fee: co.-owned: 4,910/0 the rest of the day with our staff.
$40K$90K Incentives: $10,000
Total franchises/ off franchise fee;
We strive to make members and
co.-owned: 11,941/0 50 percent off initial guests feel welcome by knowing
Incentive: 20 percent application fee
off franchise fee for
their names and their stories.
rst ve traditional
Papa Murphys
restaurants
10 Take-and-
bake pizza
How has your military
training helped with
5Anytime Fitness 2016 Franchise 500
PHOTOGRAPH COURTESY OF ANYTIME FITNESS
Meineke Car
fee; training fee
waived for rst vet-
36 Cinnabon 38 24-hour fitness
28 Residential
cleaning 30 Merry Maids
Residential
32 Care Centers
Auto repair and
eran/military spouse
associate, reduced
by 50 percent for
Cinnamon
rolls, baked goods,
coffee
centers
2016 Franchise 500
rank: #61
2016 Franchise 500 cleaning maintenance additional veteran/ 2016 Franchise 500 Startup cost:
rank: #46 2016 Franchise 500 2016 Franchise 500 military spouse rank: #55 $118.8K$294.6K
Startup cost: rank: #48 rank: #50 associates Startup cost: Franchise fee: $29.5K
$81.7K$197.3K Startup cost: Startup cost: $181.1K$387.5K Total franchises/
Franchise fee: $12.5K $56.5K$180.4K $129.6K$576.7K Franchise fee: $30K co.-owned: 1,358/78
Midas
Total franchises/
co.-owned: 1,189/63
Incentive: $4,000 off
Franchise fee:
$36.5K$50.5K
Total franchises/
Franchise fee: $32.5K
Total franchises/
co.-owned: 969/0
34 International
Auto repair and
Total franchises/
co.-owned: 1,349/2
Incentive: $5,000 off
Incentive: $5,000 off
franchise fee
Fantastic
40 Sams
Hair Salons
Family hair salons
2016 Franchise 500
rank: #65
Startup cost:
$150.4K-$283K
Franchise fee: $30K
PHOTOGRAPH COURTESY OF SNAP FITNESS
Total franchises/
co.-owned: 1,084/2
Incentive: 25 percent
off multi-unit franchise Snap Fitness (#38) recently cohosted a boot
fee
camp with country music artist Thomas Rhett in
Minneapolis, raising more than $10,000 for Folds of
Honor, a nonprot that provides scholarships for the
families of wounded or fallen veterans.
This advertisement does not constitute an offer of a franchise. A franchise offering can be made y s y in a
state if we are rst registered, excluded, exempted or otherwise qualied to offer franchises in tha s ,a d y
if we provide you with an appropriate franchise disclosure document. Franchises may not be avai e in a st te .
midasfranchise.com
800-365-0007
Express
rank: #76 rank: #83 Army veteran Scott Quagliata VP
44 Employment
Professionals
Startup cost:
$94.3K$272.3K
Franchise fee: $49.5K
Startup cost:
$368.9K-$915.7K
Franchise fee: $30K of their Veterans Program and
Staffing, HR solutions Total franchises/ Total franchises/
2016 Franchise 500 co.-owned: 961/0 co.-owned: 634/5 recruitment. One of his tasks is to
rank: #70 Incentive: 10 to 50 Incentive: $10,000 off
Startup cost:
$120K$196K
percent off
franchise fee
franchise fee put together an apprenticeship
Franchise fee: $35K
Eye Level
program to create paths to
Total franchises/
co.-owned: 749/0
Incentive: 50 percent 50 Kona Ice
Shaved-ice
55 Learning
Centers ownership for veterans.
off franchise fee truck Supplemental
2016 Franchise 500 education
rank: #77 2016 Franchise 500
Wingstop
45 Restaurants
Chicken wings
Startup cost:
$117.1K$135.9K
Franchise fee: $15K
rank: #84
Startup cost:
$76.1K-$140.1K 56 Weed Man
Lawn care 57 FastSigns
International 58 Hungry
Howies
2016 Franchise 500 Total franchises/ Franchise fee: $20K 2016 Franchise 500 Signs, graphics Pizza & Subs
PHOTOGRAPH COURTESY OF MARCO'S PIZZA
rank: #71 co.-owned: 789/9 Total franchises/ rank: #86 2016 Franchise 500 Pizza, subs, bread,
Startup cost: Incentive: 10 percent co.-owned: 573/741 Startup cost: rank: #87 wings, salads
$238.4K-$922.9K off franchise fee Incentive: 50 percent $68.5K$85.5K Startup cost: 2016 Franchise 500
Franchise fee: $20K off franchise fee Franchise fee: $151.1K$293.5K rank: #88
Total franchises/ $20K$33.8K Franchise fee: $44.5K Startup cost:
co.-owned: 894/20 Total franchises/ Total franchises/ $253.1K$453.9K
Incentive: $15,000 off co.-owned: 594/0 co.-owned: 621/0 Franchise fee: $25K
rst-store franchise Incentive: 25 percent Incentive: 50 percent Total franchises/
fee off franchise fee off franchise fee co.-owned: 517/29
Incentive: 50 percent
off franchise fee
Salute
2016 Franchise 500 Startup cost: $35.4K$149.4K rank: #156
rank: #134 $125.98K$199.2K Franchise fee: Startup cost:
Startup cost: Franchise fee: $25K $24.8K$49.5K $52.4K$330K
$171.7K$278.1K Total franchises/ Total franchises/ Franchise fee:
Franchise fee: $35K co.-owned: 303/0 co.-owned: 338/0 $7.5K$30K
You
Total franchises/ Incentive: 15 percent Incentive: $2,000 off Total franchises/
co.-owned: 337/0 off franchise fee franchise fee co.-owned: 567/3
Incentive: 15 percent Incentive: 20 percent
off franchise fee off franchise fee
The Honey- Schlotzskys
Primrose
88 Baked Ham
Company & Cafe
93 Sandwiches,
83 School
Franchising
Specialty ham and
turkey store/caf
pizza, salads
2016 Franchise 500
rank: #151
98Tutor Doctor
Tutoring
2016 Franchise 500
While they didnt rank high enough
Educational childcare 2016 Franchise 500 Startup cost: rank: #157
in Entrepreneurs 2016 Franchise 500
2016 Franchise 500 rank: #145 $503.8K$786.98K Startup cost: to make our ranking, these companies
rank: #135 Startup cost: Franchise fee: $30K $68.5K$141.4K
Startup cost: $291.8K$449.1K Total franchises/ Franchise fee:
deserve acknowledgment for their
$677.2K$5.8M Franchise fee: $30K co.-owned: 323/38 $44.7K$59.7K generous incentives for veterans:
Franchise fee: $70K Total franchises/ Incentive: $10,000 off Total franchises/
Total franchises/ co.-owned: 201/189 franchise fee co.-owned: 475/1
co.-owned: 324/1 Incentive: $10,000 off Incentive: $5,000 off
Incentive: $20,000 off franchise fee regional territory Big O Tires KidzArt
Maid Brigade
franchise fee
McAlisters
94 Residential
franchise fee
($49,700)
Tires, tire services,
auto products
Art-education
programs,
84 Club Z!
In-Home
89 Deli
cleaning
2016 Franchise 500
Coffee News
Startup cost:
$259.2K$1.2M
products, and
services
Tutoring Services
In-home tutoring
Sandwiches, salads,
baked potatoes
2016 Franchise 500
rank: #152
Startup cost:
$85K$124K
99 Weekly news-
papers distributed at
Franchise fee:
$30K
Startup cost:
$36.4K$44K
Total franchises/ Franchise fee:
2016 Franchise 500 rank: #146 Franchise fee: restaurants co.-owned: 387/2 $29.9K
rank: #140 Startup cost: $25K$40K 2016 Franchise 500 Incentive: Fran- Total franchises/
Startup cost: $579K$1.5M Total franchises/ rank: #158 chise fee waived co.-owned: 65/0
$33.6K$57.6K Franchise fee: $35K co.-owned: 474/0 Startup cost: Incentives:
Franchise fee: Total franchises/ Incentive: 10 percent $9.8K$10.8K Franchise fee
$19.8K$39.8K co.-owned: 318/43 off franchise fee Franchise fee: $8.5K Checkers and waived for rst 10
Total franchises/co.- Incentive: $5,000 off Total franchises/ Rallys veterans to join
owned: 388/0 franchise fee co.-owned: 834/5 Restaurants system; 10 per-
Postal Annex+
Incentive: 10 percent
off franchise fee
Fish Window
95 Packing,
Incentive: Three-year
0 percent nancing
Burgers, fries
Startup cost:
cent off franchise
fee thereafter
Wienerschnitzel
90 Cleaning
Services
shipping, postal, and
business services
for second through
fth units
$165.8K$1.3M
Franchise fee:
85 Hot dogs, ice Window cleaning
2016 Franchise 500
rank: #153
U.S. Lawns
$30K
Total franchises/
Valpak
Direct Marketing
cream
2016 Franchise 500
rank: #142
2016 Franchise 500
rank: #147
Startup cost:
Startup cost:
$151.5K$224.5K
Franchise fee:
100 Commercial
grounds care
co.-owned:
519/315
Systems
Direct-mail and
Incentive: Fran- digital advertising
Startup cost: $83.2K$146.2K $29.95K 2016 Franchise 500 chise fee waived Startup cost:
$303.6K$1.3M Franchise fee: Total franchises/ rank: #159 $82.2K$200.8K
Franchise fee: $34.9K$59.9K co.-owned: 308/0 Startup cost: Franchise fee:
$10K$32K Total franchises/ Incentive: 20 percent $32.8K$79.3K Flippin Pizza $15K$17.5K
Total franchises/ co.-owned: 264/1 off franchise fee Franchise fee: Pizza, salads Total franchises/
co.-owned: 322/0 Incentive: 10 percent $22K$32K Startup cost: co.-owned: 135/14
Incentive: 25 percent off franchise fee Total franchises/ $221.3K$398.3K Incentives: Fran-
Paul Davis
off franchise fee
Real Property
96 Restoration
co.-owned: 267/0
Incentive: $5,000 off
Franchise fee: $25K
Total franchises/
chise and training
fees waived; terri-
86 AAMCO
Transmissions
91 Management
Property management
Insurance restoration
2016 Franchise 500
rank: #155
franchise fee co.-owned: 20/0
Incentive: First-
tory fee waived for
dormant territories
store franchise fee
and Total Car Care 2016 Franchise 500 Startup cost: waived
Transmission repair rank: #148 $188.2K$391.1K Ziebart
and car care Startup cost: Franchise fee: $75K Auto appearance
2016 Franchise 500 $79.9K$103.9K Total franchises/ Jet-Black and protection
rank: #143 Franchise fee: $40K co.-owned: 244/6 Franchise Group services
Startup cost: Total franchises/ Incentive: $10,000 off Asphalt Startup cost:
$227.4K$333K co.-owned: 275/2 franchise fee maintenance $227K$450K
Franchise fee: $39.5K Incentive: 10 percent Startup cost: Franchise fee:
Total franchises/ off franchise fee $36.5K$100.2K $30K
co.-owned: 651/0 Franchise fee: Total franchises/
Incentive: $8,000 off $7.5K co.-owned: 363/12
franchise fee Total franchises/ Incentive: Fran-
co.-owned: 88/10 chise fee waived
Incentive: Fran-
chise fee waived
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