What Does It Take to Be An Entrepreneur?

Entrepreneurs come in all shapes and sizes from the big retailers to the local donut shop. There are a variety of ways to start out and this just depends on what industry you want to get started in. One of the simplest is to find a good supplier in China, then set up a Shopify store to sell those goods.

Charlotte, NC entrepreneur Todd Collins has invested in a variety of businesses, such as community kitchen The City Kitch, and other companies in the technology and real estate industries and has the following advice:

“Entrepreneurs must move past planning and preparation to execution. You will never have all of the answers, the perfect amount of capital or the right conditions.”

If you have the money, then buying a franchise can be lucrative. These come in all shapes and sizes too. The most popular are usually fast-food restaurants. The cost will vary by locations. Below is a list of 5 that are popular and the approximate cost of the initial investment required:

Popeye’s Louisiana Kitchen: About $3.5 million on average

Taco Bell: $5.5 million

Wendy’s: $2 million to $3.5 million

McDonalds: $1.5 million to $2.5 million

Five Guys: $305k to $380k

With franchises, there’s an upfront franchise fee required. Most also expect to get a percentage of your gross sales. They do provide you with a lot of support that you wouldn’t get if you just decide to open your own Hamburger Barn.

Todd Collins, a Charlotte, NC entrepreneur suggests this:

“Creating a team of leaders requires empowering others and creating an environment that allows team members to operate in a manner that enables personal fulfilment.”

Todd Collins is a visionary entrepreneur and philanthropist based in Charlotte, NC. Through his companies Red Hill Ventures and Red Hill Capital, Todd Collins has transformed many minority-owned businesses in Charlotte, NC in the real estate and technology industries with timely investments and insightful assistance.

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