No Train, No Gain
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After opening a college pro painters franchise during his college years, Troy Medley, 32, knew he was an entrepreneur at heart. It wasn't until he was working on his MBA, however, that he found the perfect way to combine entrepreneurship with his childhood passion: athletics.
While doing a class project, Medley discovered Velocity Sports Performance, a franchise that offers specialized training to help young athletes increase their speed, power and agility. Working in small groups at 8,400- to 15,000-square-foot facilities, clients receive the quality of training usually reserved for collegiate and professional athletes. In January 2003, Medley purchased six locations in Orange County, California, and San Diego and worked on opening his first center in Irvine, California.
Matters concerning real estate, construction and even hiring qualified coaches were simplified with the assistance of vendor relationships the franchisor had already established. Yet it still took Medley seven months to work out the kinks. He had to develop his business plan, get financing, and find available real estate to accommodate a 60-yard indoor sprint track-the biggest hurdle of all, he says.
Medley has rapidly gained ground. There are currently more than 200 8- to 18-year-olds training at his center in Irvine. Meanwhile, he is hard at work with plans to open two more of his locations by the end of the year. "We've been very pleased with the results of our first center," he says.
"The market is definitely here."
With his first location expected to bring in 2004 sales of $1.1 million, Medley has finally achieved both personal satisfaction and financial success. "I pinch myself every day," he says. "This is everything I've ever wanted."