From Federal Jobs to Entrepreneurship: A New Wave of Business Owners in Jacksonville

JACKSONVILLE, Fla. – In a recent episode of “This Week in Jacksonville Business Edition,” host Kent Justice explored the federal government’s buyout offers and impending layoffs, featuring insights from guests Marshall Reddy and Kevin Monahan. The discussion centered on federal employees contemplating a shift towards business ownership as a viable “Plan B.”

Monahan, a small business and nonprofit expert, highlighted the significant impact of government layoffs, stating, “Government is a big part of our lives.” He emphasized the trickle-down effects on contracts and the nonprofit sector, particularly as four million graduates are set to enter the job market soon.

Reddy, president of Franchise Network Inc., shared his journey from a “risk-averse” accidental entrepreneur to a franchising expert. He described his role as akin to the “eHarmony of franchising,” emphasizing that franchising offers a structured path for those hesitant about taking risks.

The duo discussed various pathways to business ownership, including starting from scratch, purchasing existing businesses, or exploring franchising options. Monahan encouraged aspiring entrepreneurs to seek help, noting that Jacksonville boasts a robust support network for small business ventures.

Reddy recounted a client’s surprising success in the health and fitness industry despite initial doubts, advising that “it goes back to getting the resources, using them, and doing your due diligence.”

Both guests provided encouragement for those facing layoffs, with Monahan assuring, “Whoever gets laid off, they’re going to be fine, but seek help.” Reddy added, “There’s light at the end of the tunnel. Just have that faith.”

For federal employees navigating uncertainty, entrepreneurship may just be the bold move they need.