When Michael Rickard graduated from Florida State University in 2010, he didn’t go looking for a job. He created his own.
“I had always wanted to own my own business. I just didn’t think it would be this early,” said Rickard, vice president of Big Frog Custom T-Shirts of Marietta. Rickard majored in political science and economics, but it was his part-time job in a sandwich shop that gave him the idea to purchase a franchise and sell his parents on the idea.
“Because of my lack of business experience, I felt like a franchise would give me a better start. The groundwork for the business would be there, and I could stand on the shoulders of others,” he said. “I can’t thank my parents enough. Banks don’t make big loans to new grads. I couldn’t have done it without them.”
Rickard and his parents explored the franchise world with Leslie Kuban, a franchise business consultant with FranNet of Georgia, which helps connect potential buyers with franchises that fit their experience, goals and pocketbook. The options were wider than expected. Starting in December 2009, the family looked into dog grooming, various retail stores, a sub shop and a commercial cleaning business.
“When I saw Big Frog, it was love at first sight. It was new, creative and more affordable than many franchises,” he said.
In February, he opened Big Frog Custom T-Shirts of Marietta, a company that uses a digital process to print customized T-shirts and other products for teams, clubs and individuals. He located the business in the Village Green Shopping Center in the area where he grew up and had connections. He employs two graphic artists, and his stepmother helps with day-to-day operations.
No two days are alike and it’s often “all hands on deck” to fill the orders, “but I like the creativity and our product puts a smile on our customers’ faces. I feel like we perform minor miracles every day,” he said. “I knew it would take a lot of time and energy, but at the end of the day, there is such an enormous feeling of accomplishment.”
Rickard plans to pay back his parents' investment within five years. The shop doubled its sales projections in its first two months. “I figure if we can weather a bad economy, we can do well in a good one,” he said.
Kuban, who has co-owned the FranNet of Georgia franchise with her father for 12 years, said that a jobless recovery was affecting parents and college graduates alike.
“Traditionally, people purchase franchises in their 40s and 50s, but I’m seeing older people and younger people looking for another way to generate income,” she said. A franchise could be a new solution for entrepreneurial new grads, displaced baby boomers and retirees. About 30 percent of franchises cost below $100,000, and 28 percent cost between $100,000 and $250,000. The rest are more expensive.
Kuban launched her own career by purchasing a Mail Boxes Etc. franchise with parental support right out of college in 1996.
“I’d seen friends who had graduated earlier stuck in low-paying or high-travel jobs that made them miserable. I decided to go a different route,” said Kuban. Mail Boxes Etc. allowed her to support herself and learn valuable business skills that eventually led to the FranNet franchise in 1999.
Regardless of age, franchise owners must be comfortable talking with people and asking for the sale. Part-time jobs in retail are good experience in high school, as are leadership roles and entrepreneurship classes in college, she said.
“Young people bring so much enthusiasm to a new business, and a franchise can provide them with the solid training and support to be successful that they wouldn’t get if they were starting a business from scratch,” said Kuban. “It’s critical to find the right business fit, and there’s no downside to using a consultant. We can provide a lot of education and assistance, and there’s no fee to the franchise buyer.”
The thought of working in a cubicle didn’t appeal to Adam DeVos, who graduated from St. Edward's University in Austin, Texas, in 2010. Wanting more freedom, he got his commercial real estate license while in school and graduated with a double major in finance and entrepreneurship. When no broker would hire him, he jokingly told his broker cousin in Houston that he should expand his business to Austin.
“He thought it was a great idea, so I opened the Oakington Realty office in Austin,” said DeVos. By working out of a three-bedroom apartment that he shares with a roommate, he was able to start the business for about $2,500. “The first year, I leased 25 properties, and now I’m solidifying the sales portion of the business. I have two houses under contract at the moment,” he said.
Since working on commission doesn’t always pay the rent, DeVos launched a second business. Internship Builder Inc. helps businesses find and attract internship talent. “We provide what we call ‘internship in a box,’” said DeVos. “Ideally an internship should be a short-term project where a student learns something. Students aren’t going to be excited about just doing data entry for three months.”
DeVos and two interns that he employs help businesses assess their needs; design the scope of work for an intern; create necessary evaluations, performance reviews and training programs; and understand the legal and financial obligations of hiring an intern.
Brown Distributing, a local Anheuser-Busch wholesaler, and the Texas Association of Nonprofit Organizations are recent clients.
“There are 120,000 students in Austin, and most of them are unemployed. The best way to improve their job prospects is through an internship,” said DeVos. “If we can help small and medium-sized companies get the talent they need to be more successful, and help students be more competitive by gaining job experience, then everybody wins.”
Nine months ago, DeVos wasn’t making ends meet, and he was tempted to search for a job. “Then I just decided I was going to make it happen. Life is what you make it, and you can always find ways to survive,” he said. He works 60 to 80 hours a week and is grateful when his parents send a check to help out, but is seeing his businesses grow.
“The most satisfying part is that I’m getting to work at two things I love,” he said.
When he mentors students at St. Edward's, he tells them that becoming an entrepreneur right out of college is doable. “Having family support is paramount, and you have to be diligent and willing to go above and beyond what is expected,” he said.
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