Former investment banker to host grand opening for children’s resale franchise in Charlotte, N.C.

Marianne Hickman will complete the transition from investment banker to children’s retail business owner when her Kid to Kid location opens Thursday, December 17, starting at 4:00 p.m.

Hickman’s store, located at 3407 Pineville Matthews Road near the Arboretum, has spent the past six weeks purchasing gently-used children’s products from local residents to build its initial inventory. Once open, Kid to

Kid of Charlotte will become the 80th operating Kid to Kid location across 22 states and in Portugal.

Hickman is among many would-be entrepreneurs who are turning to already-established franchise chains to make dreams of business ownership a reality. Franchises offer financial, accounting, marketing and operational support that removes much of the uncertainty that comes with a from-scratch start up.

Franchised businesses make up 11 percent of the U.S. private sector economy and take in 41 percent of every retail dollar spent, according to SmartMoney.com. According to the website, interest in franchises tends to spike during recessions, and, as in Hickman’s case, many people are finding that franchise ownership opportunities extend beyond the usual fast-food chains.

“I wanted to find a franchise that would be recession resistant and provide a successful model with business support,” Hickman said. “I have twin 5-year-old girls, so I’m familiar with how fast children outgrow clothes and thought Kid to Kid would be a good match.”

Hickman’s store is opening during a period of steady growth for the thrift and resale industry. Kid to Kid October sales were up an average of 11 percent and year to date sales are up an average of 22 percent over 2007. October’s increase represents the nineteenth straight month of growth for the franchise, 16 of which were double digit gains.

Kid to Kid stores operate by paying customers cash for gently-used children’s clothing, toys, equipment such as cribs and high chairs, and maternity wear. Customers can also get 20 percent more if they take payment in store credit. Purchased items are then made available for resale.

“People are excited to have the first pick of all the great things we’ve been buying,” Hickman said. “They’re seeing brands like Gymboree, Children’s Place, and Ralph Lauren at great prices and can’t wait to shop.”

Hickman’s departure from the financial sector is unique in that it was voluntary. She was hired from Bank of America in 2003 by Wachovia to build a business that offered financing to commercial real estate lenders, which she developed and grew into the largest bank to bank lender over a period of 5 years.

When Wells Fargo purchased Wachovia in 2009, Hickman was offered a continuing position but declined to stay, feeling that the level of business might not return for several years, she said.

“It wasn’t easy to turn down an offer from a distinguished company like Wells Fargo,” Hickman said, “but I have always wanted to own my own business, and with the change in the financial landscape it was the right time to make the move.”

Part of Hickman’s attraction to the Kid to Kid franchise was the prospect of opening several stores in the Charlotte market. Hickman is finalizing a lease and is making plans to open her second Kid to Kid location late in 2010.

“I am eager to get in and get my stores running,” Hickman said. “Hopefully some of my skills from the financial sector will carry over, but more importantly, I have the support of my family and friends. We’ll make it work.”

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