6 tips from a $14 million lottery winner: how Jason Fry recovered from near-bankruptcy

Trending 5 months ago

After moving it only 2 and half years, Batteries Plus is now nan chain's No.1 shop successful nan nation   Photo: Naples News

A fewer years back, Jason Fry wasn't surviving nan American Dream.

The astir 6-foot, 6-inch burly man was diligently slaving each time utilizing nan modular look for success.

But contempt his difficult activity and persistence, he remained connected nan brink of bankruptcy.

That is until a co-worker's 18th day 3 days earlier Christmas.

This fortunate time successful 2007 brought him a stock of a $47 cardinal Florida Lottery win, and he was group for life.

He bought a caller Cadillac Escalade and a fewer weeks later ferried his buddies successful a limousine autobus to nan Citrus Bowl successful Orlan.

Jason Fry acquired a Golf World 2 Driving Range successful Fort Myers utilizing immoderate of his lottery winnings   Photo: Business Observer

There he had purchased a conception of tickets connected nan 50-yard statement to watch nan University of Florida play nan University of Michigan successful football.

Then, driven by his emotion of golf, Fry besides acquired a Golf World 2 driving scope successful Fort Myers and has plans to create different one.

Six lessons Jason Fry learned on nan way:

  • Thoroughly investigation a business earlier you jump in. Fry ever wanted to ain a bar, but he says his investigation shows it’s a risky business. Instead, he says he built a “man cave” astatine location that satisfies that urge. “You’ve sewage to think: Is this going to survive?” he says.
  • Stay flexible. You person to set your business to what customers want.
  • Listen to people. Consider really different entrepreneurs person fared successful your industry.
  • Be observant pinch friends, particularly erstwhile it comes to lending them money.
  • Invest conservatively, and don’t beryllium greedy. Success won’t travel overnight but successful mini steps.
  • Family is important. Fry makes clip for his children, moreover erstwhile he’s astir busy.

He acquired nan play driving scope pinch a business partner connected Daniels Parkway successful Fort Myers for $50,000, leasing nan spot later successful nan year.

The scope now generates $300,000 successful yearly revenues.

"The scope has been awesome for me," Fry says. "It was a $50,000 play membership."

The Daniels driving scope has been truthful successful that Fry acquired 30 acres connected Alico Road adjacent Interstate 75.

On that tract he plans to build different driving scope arsenic portion of a nosy parkland that will see batting cages and bumper boats.

Florida Lottery victor Jason Fry astatine his driving scope   Photo: Supplied

One day, Fry says he’d for illustration to tally for governmental agency arsenic an independent candidate.

But Fry, 39, quickly tired of nan easy life. He laughs that he couldn’t seduce immoderate of his moving friends to bent retired astatine nan formation connected Mondays.

So successful 2009 he acquired a BatteriesPlus shop successful Fort Myers, and nan franchise authorities to 3 more. 

"I deliberation nan artillery point is good, it's blowing up truthful big. I mean everything is batteries, and nan franchise itself is blowing up, group are wanting to get into it," Fry said.

Jason franchised 3 much BatteriesPlus stores which person since opened successful section shopping centers   Photo: Supplied

Fry and respective investors acquired nan franchise authorities to 3 much BatteriesPlus stores for different $1 million, which person since opened successful shopping centers successful Bonita Springs, Cape Coral and Naples.

He expects each of nan 3 newer stores to transcend $1 cardinal successful yearly sales.

"When you look astatine their numbers, it’s a nary brainer," says Fry, who plans to stock profits pinch investors by measurement of a dividend.

Jason expects each of nan 3 newer stores to transcend $1 cardinal successful yearly sales   Photo: Supplied

"I sewage group phoning maine each day, they spot it's an A+ franchise, they spot nan numbers, they spot really awesome of a business it is, group conscionable telephone maine and want to cognize much astir it."

Fry says he can't enactment still and is ever looking for nan adjacent opportunity. “I’m over-ambitious,” he smiles. 

Jason Fry explains nan lessons he learned from his lottery winning   Photo: Supplied

Jason advises earlier jumping into a business, it's smart to look into it carefully. He erstwhile dreamed of owning a barroom but recovered retired this assemblage could beryllium rather risky.

Instead, he group up a typical hangout spot astatine home, fulfilling his wish successful a safer way.

He advises reasoning difficult astir whether a business thought will really activity out. It's besides important to enactment unfastened to change, adapting your business based connected what customers like.

Listening to nan experiences of others who person started akin businesses tin beryllium really helpful.

When it comes to money matters pinch friends, it's champion to tread carefully. Investing your money wisely and patiently is key, arsenic occurrence usually doesn't hap overnight.

For Fry, nary matter really engaged he gets, making clip for his family is ever a apical priority.

READ MORE: Business Observer

Source Lotto Life
Lotto Life