Monday Q&A: ‘We focus on people who are at a crossroads’

If Gus Iurillo needs a new slogan, he could always borrow from the Hair Club: He’s not only the president, he’s also a client.

Iurillo is a franchisee of a company that helps business people find franchises for themselves. As a Richmond outpost for the Entrepreneur’s Source, Iurillo has worked with 200 people, advising them on alternative career options in franchising and business ownership.

BizSense recently caught up with Iurillo to see how he got started with Entrepreneur’s Source and why people are looking into starting their own franchises. Below is an edited transcript.

Richmond BizSense: What made you decide to quit working for huge corporations and start working for yourself?

Gus Iurillo: I was working at Capital One and a number of Fortune 500 companies, and I was tired of the politics and bureaucracy of corporate America. I wanted to stay in Richmond, and I ended up working with a coach and mentioned in passing that I liked coaching and mentoring people. [Entrepreneur’s Source] was one option that he presented, and it just clicked for me.

RBS: What types of people come to you seeking career advice?

GI: We focus on people who are at a crossroads. Their company is downsizing or they’re looking for a second income. People don’t really have the idea of what they want to do, but they know corporate America isn’t for them.

RBS: How do you help them?

GI: We have a few meetings and figure out what they want financially, professionally and geographically. [We figure out] how they define success and narrow it down to about three or four options of what’s out there, and I make recommendations of what they should do.

I provide the coaching, they do the homework.

RBS: What do they have to do?

GI: They interview franchise owners and franchisers and see if this is something that they would be interested in. Most people in a month’s time find out if this is something they want to do or not.

RBS: What are the typical franchise opportunities that people choose?

GI: I look at the categories and try to steer more people away from retail concepts and recommend small office-based opportunities – things that are recession-resistant.

The majority of people go into senior care, pet-related franchises, and preschool or kid-related franchises. Things like Mad Science, Aussie, Pet Mobile, Doody Calls, Always Best Care, Avid Coach, etc.

RBS: What does it cost them?

GI: Clients don’t pay me any money. If they work with us and they land an opportunity, then the franchiser pays a referral fee. They don’t mind because I’m bringing them better-qualified candidates.

RBS: How many people are you usually helping at one time?

GI: I’d say 10 to 20 people at any given time. I’ve helped close to 200 people, 120 of them in Richmond. The job market isn’t great, so more people are pursuing it.

RBS: What are some things people should know before deciding to take the entrepreneur route?

GI: You have to be self-motivated. You have to be prepared, because you’re accountable for your results. You can set the course if you’re prepared to do the activities. Some people can do that, some can’t. You also need to have some financial means. It is an investment.

RBS: What are the average costs for starting a franchise?

GI: For the majority of my clients, it ranges from $50,000 to $100,000. Franchise fees are usually between $30,000 to $50,000.

RBS: What are you hoping to accomplish in the future?

GI: I want to continue to do it as long as it’s fun. Currently I have a team of four people, and I would like to build it up to five or 10 people working with me. I get referrals in parts of the state and other states, so I’d like to build a team in Northern Virginia and Maryland.