Learn how to invest your IRA or 401k into a franchise penalty-free. ($50k min)
Jeni Garrett is only 27, but she has already mastered three businesses. Before she could even drive, she had a clothing and jewelry line. Later, she raised and sold cattle. Then in 2001, as an avid spa-goer, she noticed something was lacking in the day-spa industry. "There was really no brand leader, no household name," says Garrett. "That's what guests want, and that's what we wanted to provide them--a trusted, recognizable place they can escape to."
Garrett took a major step toward creating a new spa brand in 2001 when she founded The Woodhouse Day Spain Victoria, Texas. The spa offers 70 different services ranging from various foot treatments and massages to microdermabrasion and makeup applications. In 2003, Garrett started offering franchises and searching for people who could carry her vision forward. "We had to select the franchisees who had the right character, were passionate about people, had the same vision and values as we did, and were also financially stable," says Garrett. Incoming franchisees must have a net worth of at least $250,000, be able to manage 10 to 20, employees and form partnerships with local hotels and charities. Garrett's goal is to have 200 operating franchises by 2010.
The Woodhouse Day Spa has become exactly what Garrett envisioned: an escape from the outside world of work and home--a "third place" with a focus on the experience. Many clients--Garrett included--come as often as once a week for treatments. For this enterprising entrepreneur, it looks like the third time's a charm.