ENTR Alumnus Grows Franchise; Incorporates Service Leadership
Pinak Patel
Growing up with two entrepreneurial parents, Pinak Patel knew he liked the idea of owning his own business. Shortly after starting his academic career at Purdue in financial planning and services, he pursued the Certificate in Entrepreneurship and Innovation.
“Coming from a family of entrepreneurs, I knew I wanted to continue down that path,” Patel said. “When I heard about the certificate I was curious to learn about entrepreneurship from a different perspective.”
The Certificate in Entrepreneurship and Innovation Program teaches students in all academic majors how to turn their innovative ideas into action. Through courses and experiential programs, students learn how to put their creativity to work in the development of products, technologies and organizations that create value in society.
Nathalie Duval-Couetil, Technology, Leadership and Innovation Associate Professor and Certificate in Entrepreneurship and Innovation Director, said students learn how to identify, evaluate and develop new venture opportunities in the program.
“We teach students how to develop viable business models through market research and financial analyses and how to acquire the business literacy and professional skills demanded by all employers in the contemporary economy.”
Patel recalls his entrepreneurship capstone course abroad being an influential part to is future success. The experience opened his eyes to how markets work in varying economies.
“I spent three weeks in Beijing China and visited 15 different companies. In the course students helped the companies review business plans while learning their infrastructure. This experience taught me there are various industries in the economy and each one is detailed and has a specific need. When it comes to entrepreneurship and thinking about business you have to consider which market you are trying to satisfy in your path to success.”
After graduating from Purdue in 2009, Patel took his entrepreneurship knowledge and applied it to becoming a franchisee with 7-Eleven.
“I wanted to purse the financial services side of the business after graduation,” Patel said. “I got several offers from great companies, but I felt they were not the opportunity I was looking for. I worked for my parents for 6 months and during that time a franchisee of 7-Eleven and friend of the family, discussed franchising opportunities with me. I worked hard to establish the necessary requirements and opened my first 7-Eleven franchise in 2011.”
Patel is now a multiple franchisee for 7-Eleven and is expanding his franchise portfolio to include Express Employment Professionals, a company he was drawn to because of the culture, values and business model.
“At Express Employment Professionals they truly care about putting people to work and I have that same passion. I felt like it was a great opportunity to grow.”
Managing several franchises Patel incorporates a lesson he learned from his time at Purdue, the difference between management and leadership.
“In my franchises we practice leadership and take it one step further and incorporate service leadership into each location. Service leadership is inspiring others by doing the work as a team. If I go to one of my stores and something needs done, I pitch in and support my team. Only together can we accomplish our goals successfully. This is just one reason I am able to grow my businesses.”