JACKSONVILLE, Fla. – In a recent episode of “This Week in Jacksonville Business Edition,” host Kent Justice dove into the federal government’s buyout offers and looming layoffs with guests Marshall Reddy and Kevin Monahan. The spotlight was on federal employees considering a pivot to business ownership as their “Plan B.”
Monahan, an expert in small businesses and nonprofits, didn’t mince words about the ripple effects of government layoffs. “Government is a big part of our lives,” he said, highlighting the trickle-down impact on contracts and the nonprofit sector. With four million graduates soon entering the job market, Monahan emphasized, “This is a big thing going on.”
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Reddy, president of Franchise Network Inc., shared his transformation from a “risk-averse” accidental entrepreneur to a franchising guru. “I profile, I model, and I match people to franchise companies,” Reddy explained, likening his role to the “eHarmony of franchising.” He underscored franchising as a structured path for those wary of unmitigated risks.
The duo discussed pathways to business ownership: starting from scratch, buying existing businesses, or diving into franchising. Monahan urged, “Seek help. There’s a lot more help out there than many people think.” He also praised Jacksonville as a prime spot for launching a small business, thanks to its robust support network.
Reddy recounted a client’s unexpected success in the health and fitness industry, despite initial reluctance. “It goes back to getting the resources, using them, and doing your due diligence,” he advised.
Wrapping up, both guests offered a shot of encouragement. Monahan assured, “Whoever gets laid off, they’re going to be fine, but seek help.” Reddy added, “There’s light at the end of the tunnel. Just have that faith.”
For federal employees facing uncertainty, entrepreneurship might just be the bold move they need.
