BOOMER ENTREPRENEURS

Expect long daysJim Milligan, 59
Traverse City, Mich.

Worked for: Imation 3M Company, as a general manager

Started in 2007: Fustini’s, an oil and vinegar tasting room and bottling shop that now has 32 employees.

Milligan was intrigued by the success of such businesses in Europe. So he conducted elaborate market research to see if there would be demand for a similar store in the U.S.

Startup costs: $100,000
Revenue in 2011: $2.5 million
Salary in 2011: $150,000

His advice for you: “Look at industry trends in your community. Listen and pay attention to what’s going on in the market.”

NEXT: Hire professionals

Article source: http://rss.cnn.com/~r/rss/money_topstories/~3/-wEi-FH8gYU/index.html

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