Winners of Entrepreneur(R) Magazine’s Entrepreneur of 2009 Contest Announced
IRVINE, Calif., Dec. 17 /PRNewswire/ — Entrepreneur® magazine’s Entrepreneur of 2009 contest presented by The UPS Store® culminates with the announcement of winners Rick Alden, founder and CEO of Skullcandy; Kelly Giard, founder and CEO of Clean Air Lawn Care; and Bradley Ericson, co-founder and CEO of 3SecondReceipts. They will be recognized and honored by their peers at the upcoming Growth 2.0 Conference in Miami Beach, Fla. (www.entrepreneur.com/growthconference).
The entries started pouring in by the thousands back in March, when the second-annual competition was officially underway. Over the ensuing months, Entrepreneur reviewed their applications and narrowed down the contestants to 15 finalists in three categories: Established, Emerging and College, before handing the voting over to magazine and web followers.
The winners in all three categories exemplify what entrepreneurship is all about today: answering a need, finding a solution, following a passion, taking calculated risks and above all–adapting to change, whether it’s economic or otherwise. Just take Alden, the Established Entrepreneur of 2009, who came up with the idea of brightly colored and patterned headphones and earbuds for the action-sports crowd while on a snowboarding trip. When the downturn affected Skullcandy’s orders from retailers, he focused on attracting new wireless customers and succeeded by being in all AT&T(TM) stores. The company now expects $120 million in 2009 revenue, or about 40 percent growth over 2008.
As for the Emerging Entrepreneur of 2009, Kelly Giard managed to turn a part-time project for fun in his garage into the nation’s first sustainable lawn-care franchise. His idea began at the front end of the green movement in a way that struck a chord with people, so much so that sales multiplied from $7,000 in 2006 to more than half-a-million dollars in 2008.
Then there’s the up and comer, College Entrepreneur of 2009 and Drexel University LeBow College of Business sophomore Bradley Ericson. Ericson came up with the idea for 3SecondReceipts, a system of digitizing receipts, when noticing the appalling amount of waste generated from paper receipts on campus. He has already landed his first client–Drexel University–and is aiming to add other universities to his roster (and that’s just to start).
“These entrepreneurs are proving that economic downturn or not, they’ve got high aspirations and sustainable financial models that have earned small-business owners the title of the nation’s economic drivers,” says Amy Cosper, VP/editor-in-chief at Entrepreneur. “They’re the ones turning things up and making an impact on their customers, employees and communities. We’re proud to be able to salute them.”
“The UPS Store is once again proud to present the Growth 2.0 Conference alongside Entrepreneur magazine,” says Stuart Mathis, president of Mail Boxes Etc., Inc. (MBE), franchisor of The UPS Store. “Our thousands of franchises are run by small-business owners themselves, so it is our honor to recognize and celebrate the achievements of our fellow entrepreneurial leaders.”
The entrepreneurial experiences and insights of these winners can be heard first hand at the Growth 2.0 Conference to be held on January 26, 2010, at the Miami Beach Convention Center. This one-day, complimentary event will also feature keynote speaker and legendary guerrilla marketer Jay Conrad Levinson, numerous seminars on growth strategies led by a variety of small-business experts, and many networking opportunities. Attendance is free with online registration at www.entrepreneur.com/growthconference.
About Entrepreneur Media Inc.
Entrepreneur Media Inc. is the premier content provider for and about entrepreneurs. Our products engage and inspire every day with the advice, solutions and resources that fuel the bold and independent way entrepreneurs think.
After 31 years, nobody reaches more growing businesses. As the original magazine for the small and midsize business community, Entrepreneur continues to be the definitive guide to all the diverse challenges of business ownership. Entrepreneur.com is the most widely used website by entrepreneurs and emerging businesses worldwide. Entrepreneur Press publishes the books that turn entrepreneurial skills into business success.
To learn more, visit www.entrepreneur.com.
To advertise, please contact us at www.entrepreneur.com/mediakit.
About The UPS Store
With approximately 4,800 locations in the United States, Puerto Rico and Canada, The UPS Store and Mail Boxes Etc.® network comprises the world’s largest franchise system of retail shipping, postal, document and business service centers. In the United States, The UPS Store and Mail Boxes Etc. locations are independently owned and operated by licensed franchisees of Mail Boxes Etc., Inc., a UPS subsidiary. In Canada, locations are independently owned and operated by licensed franchisees of master licensee MBEC Communications, L.P. For additional information, please visit www.theupsstore.com or www.mbe.com.
It’s the Year of the Sandwich in Entrepreneur Magazine’s 31st Annual Franchise 500
IRVINE, Calif., Dec. 17 /PRNewswire/ — The rankings are in and Entrepreneur’s 31st Annual Franchise 500® is out, with Subway taking the number-one spot. McDonald’s, 7-Eleven, Hampton Inn and Supercuts are next up in positions two through five, respectively, in the world’s first, best and most comprehensive franchise ranking.
While Subway leads, in all, 21 sandwich shops made the ranking this year, including many smaller chains like Charley’s Grilled Subs, Jimmy John’s, Jersey Mike’s and Firehouse Subs showing strong growth.
Together, the 500 franchises on the ranking added more than 12,000 units, or 2.9 percent above 2008’s numbers, proving the growth of franchises as a whole - recession or not. Not that it hasn’t been a tough year - growth is still down from the 4.7 percent seen the year before. The franchises that grew the most were the ones who serve a budget-minded consumer, didn’t cost as much to set up, or both. Take Subway, which with its $5 Footlong offer started a chain reaction among countless sandwich and fast-food franchises to bring out similar $5 programs.
Amy Cosper, vice president and editor-in-chief at Entrepreneur, says “What we’ve been recognizing for some time is now getting widespread recognition: that the recession is adding momentum to the pursuit of entrepreneurship and self-employment. For the growing numbers seeking business ownership opportunities, franchising can offer advantages like having established products or services; marketing, start-up and management assistance; proven systems and business models; and brand name recognition. All this can add up to better odds for success. For anyone considering pursuing this path, the Franchise 500® is a great place to get started.”
The January issue containing the ranking is a complete reference guide for established and aspiring entrepreneurs, revealing not only the companies who made the list according to their industry categories, but also top franchise trends for 2010, a look at 10 great franchises for less than $20,000, sources for financing, what 2010 will hold for franchises as a whole and much more.
The rankings for all 500 companies are determined using an exclusive formula that takes into account objective and quantifiable factors. The most important factors include financial strength and stability, growth rate and size of the system. All franchises are given a cumulative score, and the 500 franchises with the highest cumulative scores become the Franchise 500® in ranking order.
To view the full ranking, pick up a copy of the January 2010 issue of Entrepreneur on newsstands December 22nd, or visit www.entrepreneur.com/franchise500.
About Entrepreneur Media Inc.
Entrepreneur Media Inc. is the premier content provider for and about entrepreneurs. Our products engage and inspire every day with the advice, solutions and resources that fuel the bold and independent way entrepreneurs think.
After more than 32 years, nobody reaches more growing businesses. As the original magazine for the small and midsize business community, Entrepreneur continues to be the definitive guide to all the diverse challenges of business ownership. Entrepreneur.com is the most widely used website by entrepreneurs and emerging businesses worldwide. Entrepreneur Press publishes the books that turn entrepreneurial skills into business success.
Simon Johnson named “Public Intellectual” of the Year
CAMBRIDGE, Mass. - (Business Wire) After considering hundreds of candidates for its list of the top 25 public intellectuals of the financial crisis in 2009, Prospect magazine named MIT Sloan School of Management Professor Simon Johnson the “clear winner.” The list of the top 25 leading public intellectuals was based on who made the most impact on policy or significantly changed the public conversation regarding the recent financial crisis.
A Prospect article announcing the results explains that Johnson topped the list because his “ideas are well grounded in theory, but he has also done more than any academic to popularize his case: writing articles, a must-read blog, and appearing tirelessly on television.” It also noted Johnson’s position as an economist at the Peterson Institute in Washington, D.C. and former role as IMF chief economist. His essay, “The Quiet Coup,” in the Atlantic’s May 2009 issue was cited as “one of the great polemical essays of the crisis.”
An expert on financial and economic crises, Johnson is the Ronald A. Kurtz Professor of Entrepreneurship at MIT Sloan and a co-founder of BaselineScenario.com, a website on the global economy. He also is a member of the Congressional Budget Office’s Panel of Economic Advisors. Johnson regularly appears on NPR’s Planet Money podcast, is a weekly contributor to the NYT.com’s Economix, and has a video blog on the New Republic’s website. In addition, he is co-director of the National Bureau of Economic Research (NBER) project on Africa and president of the Association for Comparative Economic Studies.
Prospect is based in the U.K. and covers current affairs and cultural debates. Its list of the top 25 public intellectuals of 2009 appears in the January 2010 issue. Other individuals on the list include Ben Bernanke, chair of the Federal Reserve, Andrew Haldane, director of the Bank of England, and Zhou Xiaochuan, head of the Bank of China.
About MIT Sloan School of Management
For over 50 years, the MIT Sloan School of Management, based in Cambridge, Mass., has been one of the world’s leading academic sources of innovation in management theory and practice. With students from more than 60 countries, it develops effective, innovative, and principled leaders who advance the global economy.
Link to article: “Public intellectuals and the financial crisis”: http://www.prospectmagazine.co.uk/2009/12/public-intellectuals-and-the-financial-crisis/
For MIT Sloan School of Management
Paul Denning, 617-253-0576
Director of Media Relations
denning@mit.edu
or
Patricia Favreau, 617-253-3492
Assistant Director of Media Relations
pfavreau@mit.edu
Vanity Events Holding Announces Franchise Opportunities of America’s Cleaning CompanyTM
NEW YORK - (Business Wire) Vanity Events Holding, Inc. (“Vanity”) (OTCBB: VAEV), America’s Cleaning CompanyTM, a division of Vanity, announced today it intends to establish itself as a national franchise. Using its licensed trademark of America’s Cleaning Company™, the Company has seized the opportunity to brand itself as the premier provider of residential and commercial cleaning in the New York area and plans to expand on that success nationally. Using its own brand-named, proprietary, innovative “green” products, the company is quickly becoming the choice for consumers looking for cleaning services and is separating itself from its competitors with its superior products, competitive pricing, and a strong brand and advertising presence.
In an effort to establish franchisees by the summer of 2010, the company has recently signed on with several established firms which specialize in setting up and managing franchising opportunities. iFranchise Group, based in Homewood, IL, are leaders in the franchising industry, who have worked with over 30 Fortune 2000 companies and with 98 of the world’s top 200 franchisors as rated by Franchise Times magazine. They have served as the Company’s prime advisors in determining how best to establish its functional prototype, which will then be used as the basis to create and sell franchises on a national level.
Waterstreet, a Vancouver-based technology company, is developing specialized, web-based business management software for the Company. This software will be used to estimate and schedule jobs, track inventory, run reports on revenue and costs, and will be used by every franchise, allowing the Company to track and analyze the data from franchise to franchise.
Technology in a Box, a Detroit-based company, is developing customized Quickbooks®-based software including a standard set of accounting guidelines to be used by each franchise that can be monitored by the Company as well. By integrating and utilizing these two technologies, the Company plans on closely tracking and analyzing the practices of its franchisees and quickly assisting the franchisees by promoting best practices and showing where improvement can be made.
The Company has also started using the Tulsa-based Intellevue, a mapping software company, to establish territories for potential franchisees based on carefully examined demographic information.
“We are excited about the opportunity to establish America’s Cleaning Company as a national franchise and I am pleased with the tremendous progress we have made in setting it up,” said Vanity CEO Steve Moskowitz. “The growth of the Company’s premier cleaning service business in New York area has given us every reason to feel confident that franchisees across the country will also see similar success.”
About Vanity Events Holding, Inc.
Headquartered in New York, New York, Vanity Events Holding, Inc. is a holding company with numerous expanding lines of business. Utilizing their acquired trademark of America’s Cleaning Company™, Vanity has established a cleaning company offering a full range of residential and commercial cleaning services. In addition, the Company is creating an online marketplace for upscale consumer products and services ranging from jewelry to party planners. The company also seeks out, licenses, develops, promotes, and brings to market various innovative consumer and commercial products.
Safe Harbor Statement
Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company’s expectations with regard to the future impact on the company’s results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2008, and the Company’s Quarterly Report on Form 10-Q for the second quarter ended June 30, 2009. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company’s plans or expectations.
A franchise offering is not being offered by America’s Cleaning Company or by anyone acting on America’s Cleaning Company’s behalf or with America’s Cleaning Company’s knowledge to residents of any jurisdiction (nor is it otherwise specifically directed to any person in, nor will any franchise or business opportunity be located and/or sold in) California, Connecticut, Illinois, Indiana, Maryland, Minnesota, New York, North Dakota, Rhode Island, South Dakota or Washington, until the offering has been registered and declared effective and an approved disclosure document has been properly delivered to the prospective franchisees.
Vanity Events Holding, Inc.
Benjamin Muschel, 212-695-9619
info@vanityeventsholding.com
Investing in Troubled Times? Best to Bet on Entrepreneurs
BABSON PARK, Mass., Dec. 18 /PRNewswire-USNewswire/ — Studied over an extended period of time, publicly traded stocks of companies led by entrepreneurs consistently outperform non-entrepreneurs by a wide margin, according to research by Babson Associate Professor Joel M. Shulman published in the November issue of The Investment Professional.
These results ring true even after comparing the entrepreneurial group against non-entrepreneur peers adjusted for industry sector, market size, geographic territory, and time period of study, according to Shulman, associate professor of entrepreneurship.
Shulman suggests that because entrepreneurs try to keep costs low while vigorously growing the business, entrepreneurial companies are well positioned to perform better than ever in a sluggish, recovering economy.
Shulman’s recent update on stocks for calendar year 2009 show:
- Stocks of entrepreneur-led companies significantly outperform non entrepreneurs (YTD through 12/1/09, 650+ global entrepreneurs are up 93%);
- Stocks of “bureaucrat” companies under-perform non-bureaucrats and entrepreneurs by a wide margin (these are stocks that individuals would sell or sell short);
- Stocks of entrepreneur-led companies continue to outperform non-entrepreneurs even after adjusting by market cap size, sector, geography, or time period.
Joel Shulman. “Investing in Troubled times: Entrepreneurs Are Your Safest Bet”, The Investment Professional, Fall 2009 http://www.theinvestmentprofessional.com/vol_2_no_4/investing-in-troubled-times.html
Babson College in Wellesley, Mass., is recognized internationally as a leader in entrepreneurial management education. Babson grants BS degrees through its innovative undergraduate program, and grants MBA and custom MS and MBA degrees through the F.W. Olin Graduate School of Business at Babson College. Babson Executive Education offers executive development programs to experienced managers worldwide. For information, visit www.babson.edu.
