So what is a serial entrepreneur? From a personality standpoint, it is someone who has practical knowledge, useful skills and the right mindset to overcome fear of failure. What does this mean as a business owner? Serial entrepreneurs start several businesses one after another rather than beginning one venture and staying focused on it for many years like a more typical entrepreneur. The typical evolution of a serial entrepreneur’s business enterprise typically involves one of the following:
- Sell the business after it reaches a certain level of maturity.
- Retain ownership while delegating day-to-day managerial responsibilities to other people.
- Or, if the business is underperforming, close it down and move on to the next idea.
Benefits of Being a Serial EntrepreneurSerial entrepreneurs learn from experience, sometimes the hard way by making mistakes, how to get an idea for a business in motion and off the ground. Along with developing skills, they acquire contacts among investors, talented employees, and others who can help them with the next enterprise.
Expand Your Business PortfolioA franchise designed to be accessible to anyone with the desire to succeed, Fresh Coat Painters offers an opportunity to own a home-based, low investment, low overhead business in a high-growth industry. Becoming a Fresh Coat franchise owner does not require painting experience, rather owners focus on managing and growing their business and leave the painting to the professionals. This can be an appealing opportunity for serial entrepreneurs looking to add to their business portfolio. For instance, Jamie Morrison of Fresh Coat Painters of Thousand Oaks began his career in City Planning with a keen interest in serving the community. He went on to build a kid’s surf camp from scratch, and once it was sustainable by itself, he was looking for his next move when he found Fresh Coat. He decided it was a good fit for him because of the proven business model and commitment to service and helping the community.
Scale Your Business QuicklyAs a nationally-recognized painting and home services company, Fresh Coat is a results-driven franchise opportunity in the booming home services sector. It offers franchise owners a proven system, operational and marketing support along the way, and an engaged owner network that allows for collaboration. A turn-key business, a Fresh Coat business can be up and running in about three months which is significantly less than most startups take to get operating. Investing in a franchise allows new entrepreneurs the opportunity to jumpstart their businesses utilizing the franchisor’s infrastructure and roadmap to hit the ground running to scale their business - a key component of a business for serial entrepreneurs. In fact, several Fresh Coat franchise owners have had success not just in starting their own business, but growing it, and quickly.
After 11 years in corporate accounting with two different start up companies, Sarah Ross was ready to take on another challenge. She purchased her first Fresh Coat franchise in 2013, and has gone on to expand into three additional territories. Awarded the Fresh Coat Franchisee of the Year Award in 2018, President Tara Riley noted that “Sarah is rapidly growing the business by executing the Fresh Coat system, building her team with the right people and focusing on business development.”
Make ConnectionsWhile collaborating with the network of fellow Fresh Coat franchise owners is valuable, so is working with others in complementary industries. TruBlue of West Houston and Fresh Coat Painters of West Houston have taken their referral relationship to the next level and are working to serve the community together. They even present together at trade shows to help potential clients see the value of bringing in both companies for home repairs and renovations. The partnership allows both franchise owners to build their small businesses more quickly without adding additional service offerings to their own business.
The success of Fresh Coat franchise owners is due to both the proven system and the hard work of the owners, but also to the fact that the painting industry is a $140 billion industry that consistently grows year over year. The fact is that the demand for painting services is there and is growing. That makes now the perfect time to establish a Fresh Coat franchise to your portfolio of businesses. Whether you are looking for an easily scalable business opportunity or an addition to your business portfolio, owning a Fresh Coat franchise has never been easier. Check out our 8 Steps to Owning a Fresh Coat Franchise, and you can be up and running in just a few months.