updated - August 12, 2020 Wednesday EDT
As far as fruitful investments of lottery winnings go, Jason Fry has truly raised the stakes for lotto winners everywhere. Back in 2008, he won a whopping $47 million in the Florida State Lottery and he began living the high-class lottery lifestyle he had always dreamt of.
Like many US Powerball jackpot winners before him, Mr. Fry bought not only cars, including an Escalade and a Shelby Mustang, but also a motorcycle and a boat. He also purchased a house in Ft. Myers and indulged himself in all the high-class pleasures of life.
But what sets Mr. Fry apart from so many other lottery winners is that after he got over the initial culture shock, he began making some long-term business investments that could enable him to prolong his luxury lifestyle indefinitely.
In 2009, Mr. Fry bought his very first Batteries Plus franchise store after visiting a friend in Orlando who owned one of them. He immediately realized that the potential of his investment because Batteries Plus offers a timeless product.
In fact, the business model behind the company has been labeled "recession-resistant" because there will always be a need for batteries. Moreover, the company has expanded its line of products in the last few years. It is now branded as Batteries Plus Bulbs, as the stores now include an extensive selection of light bulbs.
They also provide a repair service for smartphones and tablets, thus making the company appealing to customers of all age groups. Since 2009, Mr. Fry has acquired three more Batteries Plus Bulbs stores in Cape Coral, Bonita Springs, and Naples.
He is thrilled with his franchise investment and his business is flourishing. According to Mr. Fry himself, the secret to his successful business is stellar customer service and strong employee relationships.
He believes that treating customers with respect will ensure a long-term connection, which is essential to the continuous development of a business. As for the internal policies in his stores, Mr. Fry believes that employees must be treated with the utmost respect because this will create a strong bond between them and the company.
The most important piece of advice that Jason Fry has for businessmen, as well as lottery winners, is doing thorough research before engaging in any business endeavor. For instance, he said that he had always wanted to own his own bar.
But instead of diving right into the flashy world of bars and clubbing, he conducted his research as objectively as possible and concluded that it would be very risky business in his situation. Instead of investing his millions in a bar, he opened his very own "man cave" at home and moved on to franchises.
Moreover, Mr. Fry also pointed out how important it is to be flexible when embarking on a business venture. This should be conducted according to market research, rather than personal preferences, in order for it to reach the desired goals.
Mr. Fry's attention to detail and thorough business research have made him the proud owner of four Batteries Plus Bulbs franchise stores. His investment will provide him with a long-term steady income that he can truly rely on.
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