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Exploring Franchising

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An activity that always increases during times of high unemployment is that of looking into starting your own business.  Oftentimes, when someone loses their job, they begin to think that maybe being their own boss would be better.  But should you start from scratch, buy an existing business, or explore available franchises?  Or maybe none of the above?

Mike Switzer interviews Cathey Petkash, a small business and franchising consultant with FRANNET in Charleston, SC.

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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.