Mentors: The Franchise
Joseph Keeley
College Nannies & Tutors
www.collegenannies.com
Minneapolis, Minn.
Founded: 2001
Age: 25
As a freshman at the University of St. Thomas, Joseph Keeley connected with an area family and served as a big brother and role model to their two young boys and one girl. He then took his experience and formulated the idea for College Nannies & Tutors, a student- and child-development company designed to provide parents with the child-care and family-support services their kids need.
The idea won Keeley the Global Student Entrepreneur Award and an accompanying $20,000 in cash and prizes. Keeley's success attracted the attention of Peter Lytle, an angel investor who helped the young entrepreneur develop his "business in a box" model. For $52,000 to $115,000, an individual can start his or her own franchise, with all training, support, and marketing materials provided.
Now, College Nannies & Tutors has spread to five franchise locations -- four in the Twin Cities and one in Phoenix -- with many more in the pipeline.
Lesson learned:
"As a young entrepreneur, the risk is relatively low. If you have a well-thought-out plan, don't be afraid to execute it. The risk only gets higher as you get older."
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