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Heir raising: this family plans to make franchising part of its future for generations to come

Entrepreneur, Feb, 2005 by Sara Wilson

WHO SAYS YOU CAN RECEIVE AN INHERITANCE only after the death of a loved one? Dave and Ellie Woodruff, 50 and 48, respectively, are setting things up so they can actually live to see their three children enjoy theirs. But rather than investing in a plot of land or a 10-year CD, the Woodruffs have chosen something their children will have to work hard to earn. After seeing Ellie's sister's success as a Meineke Car Care Center franchisee, the Woodruffs purchased a Meineke shop for their son, Michael, 26, and have plans to open two additional franchises for their daughters, Jennifer, 24, and Jillian, 19, in the next few years.

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As the first beneficiary, Michael is thrilled with his parents' decision because it made his dream of owning a business a reality. He eagerly accepted the responsibility of being co-partner and shop manager of the franchise, which opened in Alabaster, Alabama, in July 2004. Dave handles the bills and occasionally helps out the three mechanics in the shop. Meanwhile, Ellie plans to eventually leave her bank job and help her son on a more regular, fulltime basis. Working together has proved to be a positive experience. "When you have a family business and you're very close, there's an element of trust you might not necessarily find if you were dealing with someone on the outside," says Dave.

With 2005 sales projected to reach more than $500,000, it seems Dave and Ellie's plan will secure their children's futures. But they hope their gift will offer more than just financial wealth. "When you inherit money or a piece of property, that's one thing," says Dave. "But when you're able to give your child a thriving business and teach them how to be successful, how to make money, how to be in charge of their own destiny--to me, that seems much more valuable than just [having] an attorney hand [them] a check, saying, 'This is courtesy [of] your mom and dad.'"

Never Too Old to Party

A PARTY FRANCHISE PROVES BUSINESS AND PLEASURE DO GO TOGETHER.

KEELE WINTER, 33, LOVES TO PARTY. In fact, she has been partying nonstop for the past three and a half years and has even gotten the city of Brentwood, California, to join in on the fun. Complete with pizza, a 20-foot slide, an 18-foot bounce house, and a 1,500-square-foot obstacle course, her party facility ranks among the best in town. But Winter doesn't just play around--organizing parties is her business as a Pump It Up franchisee.

In 2001, Winter, a former stay-at-home mom, opened the doors to her 10,000-Square-foot facility and attracted fun-lovers by offering 40 free parties during the first month. Within three months, party fever swept the city, and Winter was already seeing profits. Now there's a six-week to two-month waiting list to schedule a two-hour party at the indoor facility. Sales for 2005 are projected to hit $500,000, and Winter is busy constructing a bigger building to accommodate the growth. "I'm talking about parapets and walls and sheetrock and permit fees and things you don't think will ever come into your vocabulary," says Winter. "I've learned a lot."

And Winter's parties are not just kid stuff. From hosting Easter egg hunts for big companies to throwing surprise birthday parties for the older generation, the inflatable equipment brings out the kid in everyone. "When you see moms and dads and grandpas and grandmas going down the slides, it's hilarious," says Winter. "It's like being on a giant indoor playground."

For this mother of three, the party has just begun. "I don't ever see a time in my life when Pump It Up is not a part of it," Winter says. "I plan on doing this for a long, long time."

Business Services Industry

Heir raising: this family plans to make franchising part of its future for generations to come

Entrepreneur, Feb, 2005 by Sara Wilson

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