Why I Opened My First Franchise at Age 70

Franchise Players is Entrepreneur’s Q&A interview column that places the spotlight on franchisees. Should you be a franchisee with suggestions and ideas to share, email ktaylor@entrepreneur.com.

At age 70, Dwight Teske was able to dive into a new industry. Immediately after retiring from the vocation in development, he desired to dietary supplement his retirement money – and make the most  blog de mode of his spare time. eighteen|eight High-quality Guys’s Salons appeared like an ideal healthy. Here’s what he has uncovered launching a new vocation immediately after retirement.

Name: Dwight Teske

Franchise owned (spot): 18|eight High-quality Men’s Salons in Westlake Village, Calif.

How much time have you owned a franchise?

We opened our very first salon in November

Why franchising?

I had been seeking to open up a company to supplement the retirement income and make use of many of my spare time. Franchising gives much more of a secure route to owning An effective enterprise, grounded in verified techniques and processes.

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What had been you performing before you decide to became a franchise operator?

My 1st job was in auto mend. From there, I went into design and ultimately became a B certified contractor and structural metal fabricator. I finished my development profession with 21 many years at the town of La. At age 70, I’m excited to dive into a new business.

Why did you decide on this individual franchise?

I was immediately drawn on the 18|eight principle, especially since it targets a previously dismissed segment of Modern society: the upscale, metro male. We offer handcrafted operate that previously was only readily available inside a Females’s salon natural environment. The founders in the manufacturer, Ron Love and Scott Griffiths, understood that thirty to 35 percent of The shoppers in the typical Females’s salon have been men and realized establishing the 18|8 thought would fill this unmet market. Additionally, considering that the organization has only been franchising for about 3 yrs, they offer franchisees personalised aid all over the process.

The amount would you estimate you spent before you had been formally open up for company?

$a hundred,000 for franchise charges for the main 3 stores. I also used An additional $200,000 to have the doorways open.

Where did you can get most of one’s information/do most of your study?

I did nearly all of my analysis online, initially wanting into benefit models from the hair care market. I noticed that eighteen|eight was focusing on the other close in the spectrum and used numerous months hair salon fort lauderdale investigating the corporation. It didn’t choose extensive to appreciate it was the correct opportunity. 18|8 was incredibly valuable with weekly calls and e-mail to keep everything on track. They helped Guantee that the products and provides had been purchased promptly and supplied teaching in addition to marketing and advertising help.

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What ended up essentially the most surprising troubles of opening your franchise?

The ultimate four or five months of the construction we ran into some sudden issues. Every one of the years I put in in development, I had hardly ever had a work wherever so many things went the wrong way up concurrently.

What assistance do you’ve got for individuals who would like to own their own personal franchise?

Choose a franchise that matches you and has a proven track record. Program on delays and things heading Mistaken with receiving the business enterprise open. If you need to do, you gained’t be so stressed. Invest what ever time necessary to figure out ways to sufficiently attain your goal purchaser corporate transportation and plan on investing enough promotion bucks to start out reaching them the moment you open.

What’s next for you and your company?

The moment this retailer is up and working effortlessly, I will likely be beginning on the second, after which you can the third.

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