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Long gone are the days when teens couldn't wait to donMcDonald's uniforms and start their first jobs. Today'steens have higher aspirations--they dream of becoming notemployees, but entrepreneurs.
"Almost every student, in the back of his or her mind,wants to own a business," says Tim Coffey, corporatedevelopment director for Reston, Virginia-based DistributiveEducation Clubs of America (DECA) Inc. That much is obvious atDECA's annual conference, the Entrepreneurship ParticipatingEvent, which has been attracting young entrepreneurs for more than30 years.
The event, next held April 29 through May 2 in Louisville,Kentucky, gives students the opportunity to develop and presentbusiness proposals covering all aspects of development, marketingand finance. A panel of local business-people will judge theproposals based on how practical the students' ideas are,whether the plans are realistic, and the amount of research eachstudent does.
Cash prizes are awarded to the top 10 plans. If students areextremely lucky, they may see their ideas become reality, as judgeswith an eye for innovation have been known to buy studentprojects.
What's New
- Steak-Out Franchising Inc. is taking its sizzling Southernflavor to the Rockies as part of a nationwide expansion. The uniquedelivery concept brings rib-eye steaks, grilled chicken fillets, avariety of salads and more to customers' homes or offices."We've long had inquiries from other states," saysDon Harkleroad, president of the Atlanta-based company. "Wefeel we're ready to [expand] now."
Currently, there are 82 Steak-Out Charbroiled Delivery stores inoperation and 54 under development. Start-up costs are $207,000 to$280,000.
- In a move that makes it the second largest company in theretail bagel industry according to number of franchise units, NewWorld Coffee-Manhattan Bagel Inc. recently acquired ChesapeakeBagel Bakery.
The company is also hoping to complete acquisition of New YorkBagel Entreprises Inc. in the first quarter of 2000, adding unitscurrently under the New York Bagel and Lots A' Bagels monikersto its chain.
Start-up costs for a New World Coffee or Manhattan Bagelfranchise are between $175,000 and $200,000.
- ProForma Inc., one of the fastest-growing distributors ofbusiness and promotional products, has plans for massive expansionin the next two years. They're aiming for 1,000 franchises bythe end of 2001, which would more than double the size of thecompany. Current independent distributors looking to expand to newproduct lines are ideal candidates for ProForma franchisees, asthey'd have the opportunity to be part of a large network andto share overhead and marketing costs, among other things. ProFormais currently looking for such individuals who have been successfulin a business-to-business setting.
Contact Sources
Distributive Education Clubs of America Inc., (703)860-5000, http://www.deca.com
New World Coffee-Manhattan Bagel Inc., psorise@nwcb.com
ProForma Inc., (800) 825-1525, http://www.proforma.com/franinfo
Steak-Out Franchising Inc., (770) 493-6110, jmccord@steakout.com
