Working as an Air Force pilot and later as a government-contracted program manager, Earl Reed traveled the world and lived a life most people could only dream of.
Unfortunately, while living out of suitcases grew old, the prospect of retiring altogether seemed boring and certainly not profitable. To combat a diminishing 401(k) and depreciating real estate assets, Reed decided to make one last gamble and open an urgent care medical facility last April.
"My peers think I'm crazy for starting a business at this age," said Reed. "But I consider this my new retirement plan."
The risks were great -- with a $500,000 SBA loan plus personal investments, Reed's total commitment is in the seven figures. But so far it's paying off. In a fairly lucrative market with no competition, he expects to break even within the next couple of months.
"We are open seven days a week and after hours, and we usually see people within 45 minutes," he added. "This is an underserved area, and I consider this facility an asset to the community."
Bored? Turn your passions -- whether they are juggling chainsaws, chasing tornadoes or walking on fire -- into cool and profitable companies just like the following 12 entrepreneurs did.
|Major chains drop Sony's 'The Interview'|
|Who loses if Russia implodes?|
|The 2014 tax breaks you'll be able to take|
|Tesla sales forecast cut by 40%|
|Fed to be 'patient' with interest rate hikes|