Helping Others Find Financial Freedom through Franchising

Valentines photoJane Stein is President of Your Franchise Is Waiting, a consultancy firm which helps people in various stages of reinvention discover the possibilities offered by business ownership through franchising. She shares her somewhat bumpy ride from corporate financial services to self-employment and why she loves nothing more than helping people get out from under the corporate shackles.

I was a senior VP of Investments and Certified Financial Planner with Smith Barney (now Morgan Stanley) for more than 20 years in Houston, Texas. I got married at 35 to my 42-year-old husband and cranked out two adorable boys – time was a wasting afterall.  When you have a full time stressful job (is there one that isn’t?) it truly takes a village.  We relied heavily on the kindness of not only strangers but also family and hired help.

Our second child was all of 4 weeks old when I felt that something wasn’t right. He didn’t make eye Boys at the Lakecontact (when he nursed!) and seemed to be in perpetual motion. I knew he had autism. This was 1997, and autism was just starting to be on the radar, as opposed to the full blown epidemic it has since become. Being the kind of person who believes “everything worth doing is worth overdoing,” I jumped into overdrive and surfed the internet until 2 am every morning researching every possible intervention known to man. We did gluten- and casein-free diets, sound therapy, supplements, skin brushing, as well as the traditional speech, occupational, and “floor play” interventions. By this point, my son was living in the back seat of my car and therapists’ offices. Needless to say, it was a crazy ride.  Not so great for the marriage either, which is another story.

Should I stay or should I go?

Then along came 9/11 and after struggling to get out of bed for six months, I was diagnosed with PTSD. I realized that I was seriously burned out and had not enjoyed what I had been doing for years. I was tired of the same conversations day in and day out and wasn’t learning anything new. I felt that crushing feeling of “is this all there is?” and of life being fleeting. I wanted to spend whatever time remained raising my own children (at this point, we had two full-time nannies) and living in a place where they could play outside without being covered by mosquito bites from head to toe in minutes. We Jane Steinresearched various cities that met our criteria (should be safe and have clean air and water, an educated community, and four seasons) around the country. We assessed our financial picture and where we could cut back, and took a leap of faith. We relocated the family to Boulder, Colorado, which had good public schools and more than its fair share of quirky kids. I figured mine would fit right in.

There’s only a few times in your life you will experience your soul talking to you. It’s tricky because it doesn’t come from a thinking place. Sometimes it goes against what you think you want. Those times are gifts – your soul is never wrong.  It will never steer you off course, in fact I believe it is pushing you TOWARD your course.

Cut to ten years later when my oldest was leaving for college, I began to feel restless and Jane Steinrealized I was bored, bored, bored. Hiking, golfing, going to lunch with friends and volunteering did not fill me up.

I did some deep thinking and realized I:

  • love working the way some people love weekends,
  • need an organizing principle in my life: for me it’s work
  • wanted to build another empire if I could – I missed the challenge.
  • missed having discretionary income to be more generous in my philanthropy and, let’s be honest, to spend.

There’s more I could say, but at age 58 I did a lot of research and exploration of various career options and eventually relaunched – as a franchise broker.

I work from home connecting people in transition into businesses that are a good match for them based on their investment parameters, skill sets, and income and lifestyle objectives.  Walking people through the steps of reinvention is very rewarding.

“There’s only a few times in your life you will experience your soul talking to you. It’s tricky because it doesn’t come from a thinking place. Sometimes it goes against what you think you want. Those times are gifts – your soul is never wrong.  It will never steer you off course, in fact I believe it is pushing you TOWARD your course.”

I love learning about new business concepts every day. I get to try to connect people to their dreams of self-employment and hopefully open the door to what will be their future financial security and the satisfaction that comes from “steering your own ship.”  Now I help people invest in themselves, instead of managing their passive investments, and it’s much more exciting and empowering for them.

This is a business I can do from anywhere there is a phone line and an internet connection.  There’s no reason I won’t do this well into old age.

Stepping past the fear 

Personal reinvention is hard.  Things have to be pretty miserable for you to overcome the hurdle of inertia and fear. But there can be great reward in taking the leap. Transitions are a part of life. Most of us will experience quite a few in our lifetime. The best ones are the ones you initiate yourself. It’s a great feeling to chart a new course. In facing your fears, ask yourself – in a year, will my situation improve if I do nothing? If the answer is no, you and I both know what the right move is.

When I decided to leave the financial services industry, I woke up every morning feeling free. After a while, that feeling was replaced with a sense of adventure. I was going to reinvent myself – again. Investing in a business is a bold move. But it just might be the right move.  And remember, women make great entrepreneurs!

Interested in learning more about franchising? You can connect with Jane on Facebook and  LinkedIn.

Dawn Richardson: From High School Teacher to Spirits Distiller

Dawn RichardsonDawn Richardson had an unusual upbringing, but in a way one that made her the ideal candidate to take the leaps of faith required of an entrepreneur. “I was a gypsy kid and went to 20 different schools before I graduated from high school.”

Richardson’s mother was a 70’s hippie, roaming the West with her family living out of a school bus. She was the first female construction worker in the state of Utah, earning money where she could season-by-season and taking classes in small college towns along the way. “You might say she marched to the beat of her own drum,” says Dawn.

But to her daughter, it was normal, everyday life, and there were parts on the road Dawn loved. When it was time to go to college, Dawn headed to a small liberal arts school in Durango, Colorado, where she could explore lots of classes and go skiing. She got a degree in political science thinking that she might eventually head to Washington, DC and work in politics.

“My parents (Dawn’s mother married when Dawn was 13) had always pushed me to teach but I would protest, ‘I don’t want to go into that underpaid, female-dominated, and underappreciated profession,” she remembers. But ironically her desire to travel helped push her in that direction. The family travel bug got her, and she headed to Japan to see the world while earning money teaching English. She taught in Japan for two years, and then returned home and got a masters in education and a teacher’s license and, after brief forays teaching skiing, and then working for a cell phone company, headed back to the classroom.

 “Because of my unconventional upbringing, I always had an openness to it. I would think, what’s the worst that can happen? You lose your business and have to get another job? That’s not so bad.”

For the next 14 years, she taught social studies to high school students. Dawn loved teaching but felt it was time to move on. She felt additional pressure outside the classroom from parents and administrators and then a mysterious illness sidelined her and gave her time to think. “I got a virus that caused my spinal cord to swell and it really scared me. I thought it could be the stress of teaching or just being around all those germs. We still don’t know what it was. Suddenly I was faced with my own mortality and I realized, I’m not happy and I need to change that.”

Dawn and her husband, a software developer, had always talked about opening their own business some day. “Because of my unconventional upbringing, I always had an openness to it. I would think, what’s the worst that can happen? You lose your business and have to get another job? That’s not so bad.”

Together they investigated several options including a beer garden, but were deterred by the enormous start up costs of upwards of a million dollars. But when Rising Sun Distillerythey really started looking at the business, they realized the largest profit is made in alcohol. Then a story on the evening news about local distilleries caught their attention. Looking at the viability of that kind of business, it seemed to make sense.

They started slowly. Her husband continued working and Dawn got her real estate license so they could bring some money in as they were starting up.

They consulted with another distillery in Colorado where they live, and read lots and lots about the business. Then they began experimenting by making wine and beer. When they felt comfortable, they went all in. Cashing in 401Ks, and selling a rental property they owned, the Richardson’s were able to cover the start up costs of property and equipment. Additional business and home equity lines of credit covered them through a few months of operating.

Rising Sun Distillery LogoThey launched Rising Sun Distillery with a line of gin and vodka. Their niche? Local, organic, non-GMO products. And just five months into the business, they are also recipe testing some peach vodka and a pear brandy to expand their product offering soon. While any entrepreneur knows that making the product is just the beginning, the Richardson’s count themselves lucky to be launching in Colorado.

“First of all, alcohol is a highly desirable product. But also, we live in a state where we can go door-to-door and sell our product because liquor stores are all privately owned.”

While her husband and her mother take the lead on outside sales, Dawn develops the recipes and manages the in-house tasting room where they feature their liquors in a range of artisanal cocktails.

In the short four months since they’ve opened, Rising Sun can now be found in 25 different bars and liquors stores in Colorado. Slowly but surely, they are growing the business.

“It’s a bit scary for sure. We’re not paying our bills with profits yet but we’re seeing signs that sooner rather than later, that will happen. But there’s so much to learn in this industry and I feel like we’re just babies starting out. But it’s really fun.”

Richardson’s one regret?  Her freewheeling childhood gave her a comfort with risk taking, but it didn’t give her any mentors in business. I’d love to talk to other women who are doing this because it can be hard and that would be a nice support.”

Tips from Dawn Richardson
  • Assess your comfort level with risk, if you are not a risk taker and are not comfortable with the worst case scenario, then opening a business might not be the best choice.
  • Working for yourself is a 24 hour job.  The satisfaction of working for yourself far outweighs working for someone else, but it is very hard to leave work at home and have a work life balance.
  • There is so much more to opening a business than I first thought, and a lot of the tasks are not in my skill set.  It is important to know when to outsource and when to hire help or when to join with others.

Nichole Montoya: “Nacho” Ordinary Payment System

Nichole Montoya and Molly DiCarlo at National PTA EventAccording to the Urban Dictionary, the go-to source for the definition of all terms hip and cool (or in our case, slang we hear our kids using) to “Cheddar Up” is “to gain money through legal or illegal means.” As in “Man, I gotta get my hustle on and cheddar-up.” No small irony then that two moms in Colorado, by way of the Iowa and Nebraska plains, should settle on Cheddar Up for the name of their venture, the latest and most innovative arrival to the stage of group payments.

“Every time she hears me explain that ‘cheddar’ is slang for money, my co-founder Molly can’t keep a straight face. There is just something about two moms, handing out cheese cubes and company flyers at a school carnival that doesn’t scream Jay-Z,” laughs Nichole Montoya. (more…)

Yalonda Long: From Riches to Rags and Back Again

IMG_1091What a tale Yalonda Long tells.  Her story begins in small town, Kansas, where this daughter of a barber and a beautician mother was raised with her two brothers in a strict Jehovah’s Witness household.  As a teenager, there was no going to the movie theater unaccompanied, no boyfriends, and no parties.  Even higher education was forbidden, so when Yalonda graduated from high school, a week later she headed West to Colorado to start her life.

“I tried to learn as much about the world as I could from the public education I had because I knew I wasn’t going to college,” says Long.  “But because I spent much of my life as the outsider looking in, I learned to be a great observer and I notice everything. That would wind up serving me quite well.” (more…)

Emily Stinchcomb: Between the Sheets

head shot - cropBrowsing the bedding aisle of any major department store, you would be forgiven for thinking, like cereals on the supermarket shelf, there are enough options in the world already. But Emily Stinchcomb would disagree. After the birth of her second child, she quit her full-time job to invent a new integrated bedding and sheet system that gave her the comfort and ease of a duvet cover, with the ease of washing just a sheet and not the whole cover.

But more about that in a minute.

Stinchcomb, a native Oregonian, moved to Vail, Colorado, after college to ski.  Of course, she had to earn a living too so she landed a job as a sales and events coordinator with Vail Resorts and Hyatt hotels. She liked her job but never felt that she had a career path that she was uber passionate about. So a decade later, after she had her first child, she went part time and a few years later, when she was pregnant with her second child, her family moved to Boulder and Emily thought that would be a good time to think about doing something new. (more…)

Brooke Gehring: The Path to Pot

brooke1Like the Gold Rush that drew people California in the 1800s, there are indeed many people in a rush to capitalize on the biggest and most burgeoning business in our country since the birth of the Internet – legal marijuana. But for Brooke Gehring, it wasn’t so much a rush to make a profit, as it was being in the right place at the right time and being ready to apply her hard-earned skills in an industry she cared about passionately.

At only 34 years old, Brooke has a full and successful career in commercial banking behind her and is now one of the preeminent pot entrepreneurs in the state of Colorado. But her journey began in the conservative Midwest, growing up in Columbus, Ohio. Although she became “socially familiar” with marijuana around the age of 15, she never imagined she’d turn it into a career. Initially her sights were set on law. And after graduating from Miami University of Ohio, she moved out to Boulder, Colorado, hoping for some good skiing to fill her free time while she put away some money for law school working for a national mortgage brokerage firm. (more…)