At the time, he was an executive with Starbucks leading a comfortable suburban life in Bristow Virginia with his wife Lisa and his daughter Alexandra. In addition to being active in his community HOA, he was also a prominent high school football referee. Nice comfortable life.
However, as is the story with countless other middle to upper income executives in corporate America who are age 50 and above, sometimes termination comes out of the blue. In the summer of 2010, Starbucks did a corporate reduction in force leaving Sid with some decisions to make, and a short time to make them. For many, this scenario means financial loss, extreme family stress and for some, divorce and family displacement.
For Sid, at first it was terrifying, but in the end, a blessing.
After six months of frustration, realizing his plight as an overqualified unemployable 57 year old ex-executive, business ownership seemed the only option. It was about this point that he discovered franchising. After making an investment of $25,000 along with months of training and study, he launched his new career as an entrepreneur in the franchise industry. He began to blog about the experience in a way that could help others in a similar situation.
As Sid’s brother, I’ve observed his transition from executive to business owner over the last 5 years. At my urging, Sid has organized some of his blogs into a book aptly titled “Pink Slip Paradise”. If you are an executive and have experienced a corporate downsize, reduction in force, layoff, or a similar separation from your income, download “Pink Slip Paradise” now. Learn about franchising as an effective method of replacing your income and starting a wealth building process that is gaining in popularity around the world.
Here are the top 5 questions answered in Sid’s book, “Pink Slip Paradise”:
- Should I start a new traditional business or buy a franchise?
- What are the benefits of using a franchise consultant?
- Why can’t anyone just go out and buy a franchise?
- What are the 3 ways of funding a franchise?
- How do I validate (prove worthy) a franchise?