Hole in One
Learn how to invest your IRA or 401k into a franchise penalty-free. ($50k min)
The weather never changes and the course is no bigger than a cubicle, but what Eric T. Head's indoor golf school franchise, GolfTec, lacks in scenery, it makes up for in technology. His school, opened in May 2004, is equipped with everything from cameras to capture views of students' postures to digital video and downloadable lessons to help students develop the perfect swing. Yet, as advanced as the school is, Head, 45, has proved that all it takes is sound business decisions to score big in a short time.
Head opened his franchise in Austin, Texas, because he knew the city's residents were passionate about golf. He also took advantage of the franchisor's relationship with a national golf-store chain, and by placing his franchise in one of its Austin stores, he increased sales and attracted students. The clincher has been the care he takes to hire good employees. "We have some of the greatest technology to provide a better golf experience, but without great people, it doesn't help," Head says.
In March, Head opened a second location and, as of press time, projected first-year sales for the original store to reach $350,000 to $450,000. But for Head, GolfTec represents more than just a franchise. It symbolizes a love for a game that keeps him and his customers returning for more. Says Head, "All it takes is one fabulous shot to bring you back."