Out with the old, in with the new..
Jeff resigned from his job on Monday. Although it wasn’t a great situation, it was the best it could’ve been. His company restructured at the beginning of the fiscal year, and store expectations are ridiculous. He decided to resign, and got pretty lucky because the manager was visiting his store specifically to terminate employment. I think it was somewhere around 20 store managers of the 45 in his district were terminated or resigned. This is not just in his district, but neighboring districts in San Antonio. Chuck, one of his good friends who also was in our wedding, works at Game Stop as an assistant manager. He’s the next in line in his district for a store management position, and is highly considering putting in his 2-weeks. Overall, I think GameStop will see a lot of changes in the next few years as they determine how they will be dealing with the growing digital marketplace.
Along with the loss of Jeff’s job comes opportunity. Jeff had been told several weeks before leaving GameStop of a guy in SA that owns several franchised New Balance shoe stores. Jeff was excited about the opportunity, but after talking with his parents about their business and where he wants to be in the next few years, he decided against it.
What Jeff has decided he wants to do is sell insurance! When Jeff’s dad left the golf business, he worked closely with a guy that sold group insurance. Jeff’s dad worked with this guy for about 6 months, maybe even a year. It was Jeff’s dad’s plan to learn the insurance business from this guy and then branch off to begin his own business. In less than 2 years of running their insurance business from their home office, they are making $75,000+/yr with minimal effort.
At this point the family business is focusing on group policies for businesses, but are also offering individual life policies. They are looking to expand to include property, casualty and burial insurance. Jeff talked with his dad about burial to start off with, which will pay $300 per sold policy, and 1% residual. Jeff’s parent’s would pay for his certification and help him by doing some joint accounts with him to get him instant income up front with some residuals starting out. They say he could easily be making $1500 a week within a year and $100,000/yr within 5 years. Jeff is convinced he could do much better than his dad.. but we’ll see. Hehe
I’m very excited to see where this goes. I’m excited for Jeff, because he feels like this is the time to take the jump and do something that will become more of a career that can support us and a family in the future. I am looking forward to being debt free and owning a house. If Jeff can make $1500 a week in a year.. that’s more than what he and I made combined with his GameStop job. Wow. Bring it on.
