Shaquille O’Neal has been within the enterprise sport for a very long time. The 7′1″ former basketball participant really studied enterprise when he was a university scholar and has been capable of put his information to make use of with enterprise ventures that embody being Carnival Cruise Ship’s “chief enjoyable officer” and a movie star spokesperson for quite a lot of manufacturers endorsements. A lot of his enterprise experiences come from the franchising world, and his reported web value of $400 million speaks to his success within the trade.
Right here’s what it is best to learn about Shaquille O’Neal, franchisee and franchisor extraordinaire.
Shaquille O’Neal the franchisee
Franchises appear to have a particular place within the 49-year-old’s coronary heart. When the Wall Road Journal requested O’Neal why he discovered franchising so enticing, the entrepreneur stated, “It’s simply partnering up with one other dependable, wonderful model. Being in enterprise with individuals, and simply proudly owning stuff.” At one level, it was reported he owned 40 24-Hour Health gyms and 150 automotive washes.
However O’Neal additionally has expertise franchising for a number of well-known restaurant manufacturers. He has owned and offered 155 5 Guys Burgers eating places — which totaled 10% of the corporate’s complete franchise portfolio. He additionally owns 17 Auntie Anne’s Pretzels eating places and 9 Papa John’s franchise items. In actual fact, O’Neal is a model ambassador for Papa John’s and has been on the pizza firm’s board of administrators since 2019.
Out of O’Neal’s franchise ventures, Krispy Kreme appears to be his present favourite. Based on his WSJ interview, the movie star was launched to the donut in faculty and desires to be a big a part of the enterprise. The movie star says he owns a number of Krispy Kreme franchises and is looking out for extra.
Shaquille O’Neal the franchisor
O’Neal additionally is aware of what it’s prefer to be on the opposite facet of the franchising relationship as a franchisor of his personal meals model. In 2018, O’Neal based hen sandwich model Large Hen. The Las Vegas-based chain has 10 places, with partnerships that embody Toronto-based Ghost Kitchen Manufacturers and Carnival Cruise Ships. Large Hen began franchising in 2021 and is trying to develop in cities like Austin and Phoenix.
Whereas a startling 60% of former NBA gamers go broke inside 5 years of leaving, O’Neal’s need to diversify his profession portfolio appears to have helped him steer within the different course. So regardless of whether or not IFA convention attendees determine him together with his former athletic pursuits, franchise ventures and even his DJ profession (sure, he’s a DJ), it’s clear O’Neal can’t be outlined by any success metric apart from his personal.
This information first appeared on entrepreneur.com.
