Eric Gray of Pearl, Mississippi, had spent the last 12 years working for the Department of Transportation (DOT). He also had a 23-year career in insurance investigation. While the jobs provided financially for him and his family, the hours were long. Eric spent his days doing insurance investigation and his nights working for MDOT.
“Even though I was making good money, I had no time for my kids, working 70 to 100 hours a week,” Gray said. “At 46, I knew I couldn’t keep up that pace forever and needed to make a change. I needed something different, something that would still provide a good income, or even more”
"After 12 years of hustle and bustle, I decided to make a change."
With his family’s support, Gray began researching his options and decided to open a franchise of 5 Star Painting, a commercial and residential painting company with over 225 locally owned franchises.
Gray knew what he wanted to do but needed guidance on executing his plan and securing the necessary funds. He had heard about Communities Unlimited (CU) from his daughter’s piano teacher.
“At the time, I hadn’t even considered it,” Gray remarked, “but when I started looking into buying the franchise, I asked her about it again, and she gave me the website.” He was eventually connected with CU’s Entrepreneurship Team and Management Consultant, Tracy Cook.
Gray had a lot of work to do to prepare for purchasing the franchise. To secure a loan, he needed a business plan, projections, and financial statements. He worked diligently with Tracy and the Entrepreneurship Team to determine his financial goals, paying close attention to his family budget.
Tracy helped him project operating costs and revenue. These projections aided them in forming a sales goal to keep the business sustainable. Gray also completed one-on-one training in business management, financial management, and marketing. Although equipped with the expertise provided by CU, he still needed the funds to purchase the franchise.
“It was a blessing, although it was a challenge,” Gray said. “There were many times I thought, ‘I don’t know how I’m going to get this done,’ but I just kept working and grinding. I stayed focused on what I needed to do. Eventually, it all came together, and that was very rewarding.”
“This is a big opportunity for me. I’m not just going to be a painter; I’ll be running and managing a franchise. I’m hiring painters and taking charge of my own business, and I know I can do it.”
The knowledge and guidance provided by CU have been instrumental in his success.
“It was a very hands-on experience,” Gray said about working with CU. “When I purchased the franchise, the training and support were comprehensive.”
"They have a team of people who coach you through the entire process. It wasn’t just buying a business and figuring it out on your own.”
Gray mentioned that working with the team has been a wonderful experience, and he would recommend them to anyone starting a business. He observed that while one might think they know a lot, there’s always much more to learn.
“The behind-the-scenes work is a constant, all-day process,” he added. “It’s hard to rest until you get everything where it needs to be. Having support like this is important when you’re just getting started.”
