We caught up with the brilliant and insightful Jeannie Marmol a few weeks ago and have shared our conversation below.
JEANNIE, appreciate you joining us today. Can you open up about a risk you’ve taken – what it was like taking that risk, why you took the risk and how it turned out?
For the past 20 years, I focused on financial services, climbing the ranks to become an executive at a major financial firm. I never saw myself as an entrepreneur—that wasn’t part of my plan. But life has a funny way of reshaping our paths. When COVID hit, it turned everything upside down, impacting both me and my daughter in ways I couldn’t have anticipated.
It became clear that something had to change. I made the tough decision to leave my high-paying corporate job—the one with all the security and stability I had worked so hard to achieve—and move to Miami. It wasn’t just a move; it was a leap of faith into the unknown. A new city, no family around, and no clear roadmap ahead. But my daughter’s mental health was my priority, and I knew that in Miami, she could truly thrive.
With that leap came the realization that I needed to find my own path forward. I started thinking about the two things I’m most passionate about—finance and wellness—and how I could bring them together. Taking this risk was daunting, but it was also empowering. When the opportunity came to buy into a franchise, I jumped at the chance. That’s how I found myself at the helm of ProsperIV, an IV drip bar that’s about more than just physical care—it’s about financial wellness, too.
Looking back, I realize how much risk I took by leaving behind everything I knew. But that risk led me to something greater: a business that aligns with my passions and allows me to help others take care of both their bodies and their financial well-being.
JEANNIE, before we move on to more of these sorts of questions, can you take some time to bring our readers up to speed on you and what you do?
I believe everything happens for a reason. We’re all here to make a difference, and that’s been my guiding principle throughout my life. My goal was to make an impact in the financial world by teaching others how to manage their money, and I also dreamed of being involved in the medical field—helping people feel better and learn how to take care of themselves. Never in my wildest dreams did I think that, in my mid-40s, I would find a way to combine these two passions.
This journey has been both exciting and terrifying. Stepping into entrepreneurship has meant learning, creating, and solving problems in ways I never imagined. I’ve had to let go of the security that once defined my career and place my faith in the work I do and the value I bring to others. But it’s also been a reminder that it’s never too late to reinvent yourself, to start something new, and to embrace the challenges that come with it.
ProsperIV Miami is one of the few places where clients can receive vitamins through an IV in a brick-and-mortar setting. We’re focused on helping you feel your best because we believe that having your health is the first step to living an incredible life. It all starts here. At ProsperIV, we’ve created more than just a place for wellness; we’re building a community. This is where you can “get your health on” while meeting and networking with like-minded individuals. We host events several times a month, and our space is open for groups to gather, connect, and grow.
Let’s move on to buying businesses – can you talk to us about your experience with business acquisitions?
Buying a franchise is an exciting but challenging journey. Here’s how I navigated it and what I’d advise others to keep in mind:
1. **Clarify Your “Why”**
Start by understanding your motivations. For me, it was about combining my passions for finance and wellness. Knowing your “why” will guide your decisions throughout the process.
2. **Research Thoroughly**
Investigate industries and franchise options. I focused on wellness and found ProsperIV. Take your time to understand market trends, franchise models, and costs before making a choice.
3. **Evaluate Financials**
Analyze the financial commitment. This includes franchise fees, ongoing royalties, and operational costs. Consulting a financial advisor is key to ensuring you’re making a sustainable investment.
4. **Talk to Franchisees**
Reach out to current franchise owners. Their real-world experience gave me insights beyond what was in the official documents, helping me set realistic expectations.
5. **Check Support and Training**
A good franchise offers strong training and ongoing support. Ensure you’ll have the guidance needed, especially in the early stages.
6. **Review Legalities**
Work with a franchise attorney to review the Franchise Disclosure Document (FDD) and contract. Understanding the legal aspects protects you from future complications.
7. **Plan for the Long Haul**
Franchising is a long-term commitment. Be prepared for challenges and have patience as your business grows. Having this mindset helped me stay focused during the tough times.
8. **Be Flexible**
Even with careful planning, things can change. Be ready to adapt and trust yourself to navigate the unexpected.
Following these steps helped me make an informed decision and build a business I’m passionate about. If you’re considering buying a franchise, take your time, do your research, and trust the journey.
Are there any books, videos, essays or other resources that have significantly impacted your management and entrepreneurial thinking and philosophy?
When I began my entrepreneurial journey, a few key books really shaped how I approached building a business and growing as a leader. These are the ones I often recommend to others:
1. **”The 21 Irrefutable Laws of Leadership” by John C. Maxwell**
Leadership is at the heart of entrepreneurship, and John Maxwell’s *The 21 Irrefutable Laws of Leadership* became a foundational guide for me. This book breaks down the essential principles of leadership, and it helped me understand how to influence others, build strong teams, and grow my business with integrity.
2. **”The Lean Startup” by Eric Ries**
*The Lean Startup* introduced me to the concept of testing ideas quickly and adjusting based on feedback. This approach was crucial in helping me launch my business without a massive initial investment and refine it as I went along.
3. **”Atomic Habits” by James Clear**
Building a business requires consistency, and *Atomic Habits* taught me how to create better daily routines that lead to long-term success. It’s a great read for anyone looking to improve their productivity and make lasting changes.
4. **”Developing the Leader Within You” by John C. Maxwell**
Another must-read from John Maxwell, *Developing the Leader Within You* helped me understand that leadership isn’t just about leading others—it starts with leading yourself. This book gave me practical strategies for personal growth and has been a valuable resource in becoming a better leader.
5. **”Shoe Dog” by Phil Knight**
*Shoe Dog*, the memoir by Nike’s founder, is an inspiring story of perseverance and risk-taking. It provided a candid look at the highs and lows of entrepreneurship, which resonated with me during the tougher moments in my own journey.
These books blend practical advice with deep insights on leadership, habits, and resilience, making them invaluable for anyone on the entrepreneurial path.
Contact Info:
- Website: https://www.theprosperiv.com/miami/
- Instagram: prosperivmiami
- Facebook: prosperivmiami
- Linkedin: https://linkedin.com/in/jeanniemarmol
- Other: Jeannie’s Ig- Jeanniemarmol
Image Credits
Jeannie Marmol (Owner) and Delfina Correia (Owner)