From the LVRJ: If this U.S. Senate thing doesn't work out, there might be a fallback
for Rep. Shelley Berkley in her family's new business. Berkley and her
husband have obtained franchise rights to operate frozen yogurt shops in
New Mexico.
Three U-Swirl Frozen Yogurt cafes have opened in Albuquerque, and the
franchise agreement calls for seven more to be up and running in the
state by May 2015, according to a company filing with the Securities and
Exchange Commission.
Berkley and her husband, Dr. Larry Lehrner, closed the deal in May
2011, after Lehrner set up a company, Family Yogurt LLC, for the
venture.
They paid between $50,000 and $100,000 to get into the frozen yogurt
business, according to a Berkley disclosure to the U.S. House. At the
end of 2011, Berkley valued the franchise at between $250,000 and
$500,000.
The investment is but a small part of the couple's financial
portfolio. Berkley, a Democrat and seven-term House lawmaker who is
running for the U.S. Senate, last week was ranked by The Hill, a Capitol
Hill newspaper, as the 35th wealthiest member of Congress, with net
assets of at least $9.2 million. http://www.lvrj.com/news/berkley-husband-invest-in-yogurt-shop-franchise-167521975.html
I think it's great that the Berkley's are starting a small business and they will have to face all the regulations that the government imposes on small business owners.
But as a 1%er, you would think that if Berkley wanted to, she could also find a franchise that would provide jobs and opportunities in Nevada.
Shelly Berkley: Looking out for New Mexicans.
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Franchise businesses are generally better to invest in rather than a new startup business. That is because you don’t need a huge capital, and you don’t have to promote the brand that much since it is already popular. Another bonus is the business already has a loyal following, and you will just need to cater to those customers and to potential ones.
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