Entrepreneurial Survival Stories

Harland "Colonel" Sanders

The chicken mogul who could have flown the coop
The brink: In 1955, when a newly built interstate highway bypassed Harland Sanders' original Sanders Court and Caf茅 restaurant, the property lost more than half its value, and he had to sell. Despite having a few Kentucky Fried Chicken franchise locations, Sanders was left virtually penniless after paying off his debts.
The gutsy move that brought him back: Though Sanders had just celebrated his 65th birthday, he refused to give up on his "original recipe" chicken. He continued working, and by 1960, he had more than 400 franchise units in operation. Four years later, he sold his interest in the company to a group of investors for $2 million, though he remained a company spokesperson until he died in 1980.
Lesson Learned: A true entrepreneur never retires.

Related Links
entrepreneur , success story