South Carolina Business Review

The debt collection industry in SC

By Mike Switzer

Published March 20, 2024 at 6:30 AM EDT

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Brice Smith, founder and CEO of Greenville, S.C.-based InvestiNet

Debt collection companies oftentimes don’t have good reputations. But they do provide a necessary service or they wouldn’t exist. Sometimes, a company needs help collecting bad debts and sometimes the person or company owing the debt needs an affordable payment solution. Let’s explore that industry in SC today. Mike Switzer interviews Brice Smith, founder and CEO of Greenville, SC-based InvestiNet.

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Mike Switzer

After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.

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