Although he has millions Lebron James chose to invest in himself. He turned down a guaranteed $14 million deal with McDonald’s to work toward building his own franchise and it looks like it’s paying off. He talked about why he made the decision to invest in Blaze Pizza instead of the million dollar McDonald’s contract:
“I believed in the actual product, first,” James said. “I remember going to UC Irvine, the first-ever Blaze, and we tasted the product and the product was phenomenal … And you came to me with the proposition that we actually own our own and be franchisees of a couple cities in America. And the numbers that you were showing me, the numbers that we could make if we just put the time in effort into it, would be exceeding what McDonald’s would be giving me guaranteed over the next four years.”
“But more importantly, I think for me, it was like, ‘Oh wow, we get to actually build this.’ Forget the money, we could actually build something. And if it doesn’t become successful, then I can only blame myself.”
James has sought advice from great financial leaders and has been making strategic financial decisions since he entered the league. According to Forbes, Blaze Pizza is one of the fastest growing restaurants in history, going from 2 to 200 locations in four short years.
Blaze is on track to becoming a publicly traded company with plans of making Blaze international soon.
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