Business: A shaved-ice franchise company.
Where: Florence, Kentucky
Who: Tony Lamb, Founder and CEO
Cool perk: Kona Kollege, which allows paid summer interns to turn their sweat equity into a down payment on a franchise. After students intern for two to three summers, Lamb says the company will pay the $15,000 franchise down payment. Lamb says a Kona franchise can be a great source of passive income for young entrepreneurs, who may have other career aspirations.
Why it works: Lamb says the program gets interns to work hard. “Why not give them the incentive to work for you for two to three years, and have them involved, ingrained and so excited about building the business for you? It makes for a great employee, and from the corporate side, I get an amazingly trained guy who comes in as a smart franchise owner,” says Lamb, who calls it a “win-win-win scenario” for interns, franchise owners and the corporate office.