25: Raising Capital to Buy 60 Pearle Vision Locations: Bill Noble’s Story

<p>Are you interested in the process of raising capital to buy a franchise? Do you know how to properly structure the arrangement? When you’re not able to completely fund the purchase yourself this can be a viable option—if you know where to start. Brian Noble of West Point Optical Group is here to lend his expertise in this episode of Franchise Secrets.</p> <p>Bill graduated from West Point with a degree in Engineering Management and went on to get his MBA in Management from Harvard. He took his extensive background in leadership and business and pitched to a group of investors. A few short years later, he now owns 60 Pearle Vision Franchise locations around the country.</p> <h2>Outline of This Episode</h2> <ul> <li>[0:35] I introduce my guest, Bill Noble.</li> <li>[1:25] Bill’s background in the industry</li> <li>[4:30] From LensCrafters to Pearle Vision</li> <li>[6:45] Taking the leap into a new opportunity</li> <li>[9:45] Bringing investors into the journey</li> <li>[16:40] What his original investment group raised</li> <li>[20:15] Advice for someone pitching to investors</li> <li>[26:20] Crafting your operating agreement </li> <li>[29:20] How the original strategy evolved</li> </ul> <h2>What pushed Bill over the edge and into franchising</h2> <p>Bill grew up in a family of entrepreneurs. His Dad owned a flower shop and a Jazz Club and his Mom owned two daycare centers. As he worked through college and business school his goal was to get a C-Suite level position—he thought this was his path. He carefully chose the schools he attended and the positions he accepted to position himself for a job in a Fortune 500 Company. </p> <p><em>He didn’t want to be an entrepreneur, but it was in his blood. </em></p> <p>He was working at LensCrafters in operations and fell in love with Retail Optical. He knew of the competitors in the space and heard of an opportunity with Pearle Vision. When he got passed up for a promotion with his current company, he knew it was time to move in a different direction. Listen as we talk abo