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Why I Opened My Initial Franchise at Age 70

Franchise Players is Entrepreneur’s Q&A job interview column that places the spotlight on franchisees. When you are a franchisee with information and ideas to share, e mail ktaylor@entrepreneur.com.

At age 70, Dwight Teske was willing to dive right into a new business. Immediately after retiring from a occupation in design, he planned to supplement his retirement money – and make the most of his spare time. 18|eight Wonderful Adult blog de mode men’s Salons seemed like the proper in good shape. Here’s what he has learned launching a completely new career just after retirement.

Name: Dwight Teske

Franchise owned (spot): 18|8 Good Guys’s Salons in Westlake Village, Calif.

How much time Have you ever owned a franchise?

We opened our first salon in November

Why franchising?

I had been aiming to open up a business to nutritional supplement the retirement cash flow and benefit from a number of my spare time. Franchising gives much more of a secure path to possessing A prosperous small business, grounded in confirmed devices and processes.

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What were you performing before you decide to became a franchise operator?

My first profession was in vehicle repair. From there, I went into construction and finally grew to become a B accredited contractor and structural steel fabricator. I completed my construction occupation with 21 many years at the town of L. a.. At age 70, I’m fired up to dive into a new business.

Why did you select this unique franchise?

I was right away drawn into the eighteen|8 idea, especially as it targets a previously disregarded segment of Modern society: the upscale, metro male. We provide handcrafted do the job that Beforehand was only available inside a Girls’s salon surroundings. The founders with the manufacturer, Ron Like and Scott Griffiths, realized that thirty to 35 p.c of The purchasers in the common Ladies’s salon were Males and understood developing the 18|8 idea would fill this unmet specialized niche. In addition, given that the hair salon fort lauderdale organization has only been franchising for around a few decades, they offer franchisees customized aid all through the process.

The amount of would you estimate you put in before you were formally open for small business?

$100,000 for franchise costs for the primary three suppliers. I also expended A different $two hundred,000 to get the doorways open up.

The place did you get most of your tips/do most of one’s study?

I did almost all of my research online, to start with looking into value brands from the hair treatment market. I noticed that eighteen|8 was focusing on the opposite stop of the spectrum and put in numerous months investigating the business. It didn’t get extensive to understand it was the appropriate possibility. 18|eight was particularly handy with weekly calls and email messages to help keep every thing on the right track. They assisted Guantee that the equipment and materials ended up purchased in time and furnished teaching together with marketing assistance.

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What had been essentially the most surprising challenges of opening your franchise?

The final four or five weeks of the development we ran into some unpredicted trouble. Every one of the years I invested in design, I’d never had a occupation where by so a lot of things went the wrong way up concurrently.

What tips do you might have for people who would like to individual their own personal franchise?

Choose a franchise that fits you and has a demonstrated track record. Approach on delays and issues heading Erroneous with receiving the company open. If you need to do, you received’t be so stressed. Invest no matter what time vital to determine the best way to sufficiently achieve your target consumer and program on spending suitable advertising and marketing bucks corporate transportation to start reaching them as soon as you open up.

What’s subsequent in your case and your enterprise?

When this retail outlet is up and running effortlessly, I will be starting on the second, then the third.

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