POMPANO BEACH, FL — Restoration 1 CEO, Andor Kovacs, recently began helping employees of the company become entrepreneurs by loaning them startup costs for their own franchises, according to a press release.
Restoration 1 offers special financing to qualified employees, providing them with $20,000 of the initial $35,000 startup costs.
In association with this loan, the new franchisee is partnered with an established franchise, with whom the new franchisee splits profits until able to buy out the partner.
Josef Nagy, who worked for Restoration 1, received Kovacs’s entrepreneur aid earlier this year, choosing to open his new location in Greenville, South Carolina.
“Josef has the kind of work ethic that is an asset to the organization,” said Kovacs. “We are proud to have him go from employee to franchisee and look forward to helping him grow in the Greenville market.”
Kovacs, who has started several businesses himself, including a liquor-distillery in his native Hungary to a car export business in South Florida, sees fostering entrepreneurship as personally important.
For the original release, please click here.