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Updates


A Job Change Leads to Business Ownership


From sales to entrepreneurship through franchising

By Greg Shugarts

In 1990, two good friends of mine decided to invest in a FASTSIGNS franchise. I was in corporate sales at the time and had an itch to make a change so I agreed to go to work for them. My initial title was Production Manager, but I did everything from sales and production to act as nighttime janitor. I worked tirelessly (80+ hour weeks) and sacrificed my home life to ensure the success of our center.

In 1994, as the relationship between the two equity partners soured, I decided to join forces with the owner of the FASTSIGNS in the neighboring city of Kirkland, WA. What enticed me to make the move was that the current owner of the Kirkland location was willing to sell the center to me at a discount based on my contributions to the business. We came to an agreement that I would buy him out over a 5-year period.

My primary focus at the new location was outside sales, and as a result of my outside sales efforts, our sales revenue doubled in the first year, tripled in the second year, then quadrupled in the third year. We became a top 10 worldwide center in revenue in the first few years after I came aboard.

My partner and I completed the deal in 1999 which made me the sole owner of FASTSIGNS in Kirkland. The entire purchase was funded through company generated profits. All the blood, sweat, and tears I experienced over those 9 combined years had resulted in me owning my own FASTSIGNS franchise without having to use any personal funds.

Since taking over back in 1999, my center has consistently been a top performing franchise year after year, and I was awarded the highest company honor by being named the FASTSIGNS CEO franchisee of the year in 2006.

The financial success of FASTSIGNS has provided me the opportunity to also invest in another franchise called Plato’s Closet (Winmark Corporation). I currently own 4 Plato’s Closet franchises in WA and OR. Between the five independent franchise locations I now employ roughly 60 people.

For those who believe in themselves, are willing to work hard and take a risk, there is no better platform for achieving financial goals than franchising.

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