Philko owns a laundry service in Waterford Township, Mich.
Name: Nick Philko
Day job: Regional sales manager for Medtipster.com
Side business: Town Tub Coin Laundry
As Nick Philko was building his career in the health care industry, he was also keeping an eye out for a business to launch "that could basically run itself and allow me to keep my day job."
In 2005, he opened a 1960s-themed laundromat and laundry pickup and delivery service that caters to families and local camps. "It wasn't easy. I had to juggle my day job and develop a thick skin to deal with the ups and downs of being an entrepreneur," he said.
Indeed, he texts clients, asking them to provide feedback. If they're not satisfied, they get their next service free. He hopes that will encourage happy customers -- and profits. "I want my business to be like my 401(k) for my future," he said.