Nick Lopez is a good example of what a college student can accomplish when he discovers franchising – if even accidentally!
Lopez studied business in Michigan and to cover the costs of tuition, books and living expenses he decided to start a business. Of course, he needed a business that would allow him time to study, and since he didn’t have much money to invest he needed an idea that wouldn’t require much start-up capital. That’s when he settled on painting . . . as in painting houses . . . especially million-dollar-plus houses.
Mentors lead to franchising
In his third year of operations, Lopez realized he had a business that he could continue to build post graduation, but he didn’t plan to live in Michigan. He planned to return home to Colorado. That’s when he sought out mentors to help him develop a long-term business plan. One mentor introduced him to The E Myth Revisited, one of the most important books for people who aspire to own successful businesses. And that’s when he discovered franchising, a concept that he had not previously considered.
After graduation, about four years ago, Lopez launched LIME Painting in Colorado and generated more than $600,000 in first-year revenues. In 2017, the business is expected to exceed $2-million in sales.
LIME for core values
Why LIME? Lopez explains that it’s the acronym for his company’s core values: Love, Integrity, Mission, and Excellence.
For the past couple of years, Lopez says he’s been immersed in franchising, a concept that he now loves. He plans to begin selling LIME Painting franchises in fall 2017. Recently, Lopez visited with Dr. John P. Hayes for an interview on the How To Buy A Franchise Show.
Study franchising at PBA
I have met many students like Nick who aspire to own a business. While Nick stumbled into his success, PBA students can take a practiced route by studying franchising. While earning a business degree with a concentration in franchising, you will have a huge advantage at graduation and throughout your business career.
Learn more about how you can get a jumpstart on your dream by earning a concentration in franchising at the Titus Center for Franchising housed in PBA’s Rinker School of Business.
Dr. John P. Hayes, a world-recognized authority in his field, is the Titus Chair for Franchise Leadership at Palm Beach Atlantic University.