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 and extreme family stress. For some, however, it could even mean divorce and family displacement.
Sid was terrified at first, but in the end, it was a blessing.
After six months of frustration, he came to realize that being an overqualified 57 year old ex-executive had made him unemployable. Business ownership seemed to be the only option. It was at 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 went on to blog about the experience in a way that could help others in similar situations.
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” on the bottom of our home page. 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?
Download a copy of Sid’s book at the bottom of our home page.