After a 37-year career in the gas-and-oil industry, Batteries Plus Bulbs franchisee Stan Shook had built large 401(k)s at both of his former employers, he told Entrepreneur Magazine. Batteries Plus Bulbs provided Shook with a list of vendors who would help him access the retirement savings and turn it into startup capital without having to pay taxes on it. He also obtained a SBA loan to finance his location. Now, after being open for nearly two and a half years, he explained that his business is growing rapidly and he's predicting to be in the black early this year.
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