Jeff Learner is a successful home-based business owner, and professional internet marketer with CarbonCopyPRO. Jeff is currently number 317 on the list of top earning home business owners in the world… no small feat considering he began his online business only 10 months before this interview.

Jeff’s entrepreneurial endeavours haven’t always been successful however. Previous to starting his own successful home-based business, Jeff tried his hand at franchising… with disastrous results. Only a few short months after investing almost half a million dollars to begin his new business, both of Jeff’s stores went under, and he fell into $500 000 worth of debt.

I recently spoke with Jeff about his experience as a franchisee, and what led him to internet marketing. The interview was as follows.

Matt: Hi Jeff… welcome… and congratulations on securing your spot as #317 home business owner in the world!

Jeff: Hehe… thanks… I’m still trying to work my way up the list.

M: So Jeff, prior to internet marketing, you were a multi-unit restaurant franchisee. What led you to franchising?

J: I never quite fit into the whole 9 – 5 lifestyle, and more importantly, I wanted to work for myself…not for someone else. This had always played a big role in my life… I’ve worked as a x, an x, an x, and most recently as a wedding performer (?). Working as a wedding performer was particularly fulfilling as playing piano is one of my passions, but all these jobs left something to be desired. I’m not a greedy guy by any means, but the payout wasn’t exactly fantastic. It’s frustrating when you put your passion into something and see so little come out of it… especially when you’re newly married and paying off a mortgage.
I had always thought about owning my own business… it would give me the freedom I wanted, and the potential to make a comfortable living. I had heard that franchising could be quite lucrative, and also somewhat automated due to the systems companies put in place. Since I didn’t have a lot of background in business this seemed promising, so I looked into it further.

M: And what did you find out?

J: Well it turns out I slacked a little bit in the research department. What I “found out” didn’t really turn out to be true. I had read that a lot of the hard work involved in franchising could be done by a manager that I could hire, and that essentially a company system would be set in place for me, and all I would have to do is follow it. The big kicker though was the myth that franchises are safe investments… boy did that turn out to be wrong.

M: So what happened?

J: After talking it over, my wife Laura and I decided that franchising sounded fairly safe, and that it was the way to go. We took the plunge and invested almost $100,000 (plus borrowed $400K more) in two stores.

M: So that’s a total of $500,000? Wow… that’s quite a bit of money to be investing in something when you’re unsure of the outcome.

J: You’re telling me. Right around the time we made our investment, the economy started going down the toilet. Only 9 months into our new business, and Laura and I had lost our entire investment! We were out $500,000!

Luckily we consolidated and were able to get one store paid off, but we were then left with a debt of $253,000. Do you know what it’s like to get a collection letter for $253 000? It’s not a pleasant feeling.

M: What do you think contributed to such horrible results?

J: Well honestly it was mostly just bad luck. As a franchisee you’re completely dependent on the economy. If times are bad, people are going to spend less money. Well times got really bad, and there was nothing we could do about it. What can you do when you’ve just invested half a million dollars and no one’s buying anything because they’re trying to save their money? That’s right… nothing… we had to just watch it all fall apart.

M: How do you feel about the brief period you actually were a franchisee?

J: Well I’ll just tell you that what I had previously read and heard about franchising was not true. A safe investment? Well I think I’ve just shown you that that’s not true. Second, who do you generally see working in franchises? Ya… teenagers. Teenagers who like to fool around on the job, and generally don’t care how business goes. These are the people the success of my stores was going to be reliant on. It’s not a pleasant environment to be fearful about personal liabilities and dependent on teenagers to help you out of it.

M: So you’re out $250,000… how and why did you turn to internet marketing?

J: I didn’t specifically seek out to become an internet marketer. I was researching home-based businesses online one day, and came across a guy claiming to make six figures a month, working from home, without all the hassles of a franchise business… no overhead… no dealing with teenagers… and more importantly… no huge upfront investment.

Did I believe what he was saying? No not really, but I took a risk and (paid a small fee) to look deeper. I then spoke to him personally, told him my story and voiced my concerns, and he just told me what I’d need to do to make it all work for me.

At that point it sounded believable and the more due diligence I did the more this guy and his company checked out.

M: And here you are today… 10 months later, and the #317 home business owner in the world. I guess what this man was saying was true?

J: Oh ya. Was it easy to get here? No… I had to work hard to get to where I am… but it wasn’t rocket science either. Everything internet marketers do to make money is duplicatable and it can scale much faster than traditional business.

You simply follow the leader. Also, the only person I was reliant on to make money was me. No teenagers… no managers… no boss… just me.

M: What about the recession?

J: I’m glad you asked. The internet is virtually the only place in the world the recession hasn’t affected. Internet revenues are going up exponentially as more and more people turn there looking for a less cumbersome way to run a business.

M: Can I ask how much being the #317 home business owner in the world pays by the way?

J: Hehe… about $60,000 a month. I’m hoping to have my first $100,000 month soon.

M: Well Jeff it’s been interesting hearing your story… thanks for your time.

J: Thank you as well… and take care.