Entrepreneur's Startups

Entrepreneur's Startups Fall 2017

Entrepreneur's Startups is for anyone dreaming of launching a business. Entrepreneur's Startups is the must-have resource for hands-on insights and information on how to get your business off the ground and running in no time. Published three times a year, with each issue you'll discover countless business ideas, see how others got their start and how you can too

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United States
Entrepreneur Media Inc.
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11 min
when franchises falter, opportunity knocks

AH, THAT SMELL! The scent of featherlight, just-out-of-the-fryer doughnuts covered in a sugary glaze. The aroma so good it drew lines of single-minded devotees, zombie-like, to the wholesale factory during the only time they were allowed to buy them—between midnight and 4 a.m., through a window cut into the wall. Even the name was delicious: Krispy Kreme. That’s how the iconic company started, in Winston-Salem, N.C., in the 1930s. How it nearly ended, decades later, is a case study in how franchises can stumble. First there was the sale, in the 1970s, to an international conglomerate so big it peddled everything from luggage to bras to window treatments. For the new parent company, a doughnut chain was a handy way to unload products made by its other myriad divisions, including soup…

2 min
funding that fits

You want numbers? Peter Dering has numbers. Peak Design, the camera accessories company he bootstrapped in 2011 with $25,000 from savings, has now raised more than $14 million. It has generated 90 to 100 percent growth for five years straight. But here’s the most exciting number: Dering still owns 100 percent of the company. “The traditional model is to give away equity before anything about the business is determined,” he says. “I didn’t consider that.” Instead, Peak Design grew via crowdfunding. A Kickstarter presale campaign for each of its six product launches secured a healthy cash injection at every pivotal moment and helped build a rabid fan base. Its most recent campaign raised $6.7 million. It’s not that VCs are a bad option. But, many entrepreneurs say, equity investors are better suited…

1 min
other spaces to suit your personality

MATURE “A lot of coworking companies seem built to fulfill the fantasies of male 20-something engineers,” says Jamie Hodari, INDUSTRIOUS’s CEO. Industrious offers inclusivity instead. The company’s 12 locations across the country have private rooms for nursing moms to pump milk, and, she says, “our regional director in New York took three hours to help a member prepare for her citizenship test.” LOW-COMMITMENT CROISSANT is an app that allows remote workers to “rent” desks at established coworking spaces in New York, Boston, San Francisco, Los Angeles, Berlin, and London, among other cities. It offers monthly subscription plans that range from $29 to $249, depending on the city. FANCY! BUSINESS DISTRICT is for professionals who care more about the flagship office’s brag-worthy home in an I.M. Pei–designed building than free beer. Matt LoGuidice founded the Boston-based…

2 min
front-load your week

A FEW YEARS AGO, I began laying out my week on a spreadsheet—all 168 hours of it—to see how I allocate my time. It’s an eye-opening exercise. About 30 percent is sleep, and 30 percent is work. Then family and friends get 25 percent, and the rest is learning and general maintenance. I also realized I wasn’t always making the most of those hours; I was squandering time, which is the one thing I can’t get more of. For example, I have three young children—but getting home to put them to bed at 8 p.m. wasn’t quality time. I’d rather be around from 3 to 8 p.m. And sometimes I was so busy working on my own projects that I had no time to relax. So I came up with an…

10 min
pleased to meet you!

THE SCIENCE AND POWER (AND PROFIT) BEHIND A WINNING FIRST IMPRESSION, AND HOW TO MAKE ONE YOURSELF. IN A STUDY PUBLISHED IN 1992, researchers Nalini Ambady and Robert Rosenthal at Harvard University tested the power of first impressions by examining students’ perceptions of their professors. For the experiment, Ambady and Rosenthal showed muted, 10-second video clips of professors teaching to participating undergrads, who rated the teachers on 15 dimensions of effectiveness, including warmth, optimism, and professionalism, all based entirely on nonverbal cues. Ambady and Rosenthal looked at the results and wondered if they could change the ratings by shortening the clips. So they cut them from 10 seconds to five seconds. The ratings didn’t change. They cut them to two seconds. Nothing changed. They concluded that we make a snap judgment in the…

1 min
non-franchise opportunities

ADVERTISING/ MARKETING SERVICES 99 Dollar Social • • + Social-media management • D NO. OF DEALERS: 500+ COST: $99/mo.+, Financing: No Perks Nearby • • + Daily-deal websites • L NO. OF LICENSEES: 150 COST: $995, Financing: Yes Social Xpand • Social-media management • L NO. OF LICENSEES: -- COST: $299, Financing: No Today’s Senior Magazine • Magazines for seniors • L NO. OF LICENSEES: 3 COST: $14.5K, Financing: Yes True North Business Development (TNBD) • Email-list-building service • L NO. OF LICENSEES: 0 COST: $5K, Financing: Yes APPAREL & ACCESSORIES Cariloha Bamboo apparel, accessories, bedding, and home decor • D NO. OF DEALERS: 45 COST: $150K, Financing: No Del Sol Color-changing apparel and accessories • D NO. OF DEALERS: 45 COST: $150K, Financing: No AUTOMOTIVE AMSOIL • Synthetic lubricants • N NO. OF ASSOCIATES: -- COST: $30-$75, Financing: No Detail Plus Car Appearance Systems • • + Auto appearance services, automatic car wash • L NO. OF LICENSEES: 300 COST:…