Tommy Doukas, BEVINCO
Former Position: Credit Default Swap Broker
After graduating from Hofstra University in Long Island, NY in 1996 with a finance degree, Tommy Doukas began work for Chase Manhattan Bank working on Complex Interest Rate Derivatives. In time he made several moves to companies like Westdeutsche Landesbank GZ and Deutsche Bank doing risk management and desk support for Credit Derivatives. In July 2000, Doukas relocated to Houston, Texas to work in Distressed Debt Trading for Enron but came back to NY as a Credit Default Swap broker two years later. As a broker he was also able to serve as COO and at a different firm as a partner and member of the operating board.After being laid off twice in 2008 (by a small firm in March, then by a much larger firm in September)... Doukas decided it was time to stop working for other people and start being his own boss. He decided in October to purchase a BEVINCO franchise, and began working his territory of Staten Island, and Bay Ridge, Brooklyn on November 3rd.
Words of Advice...
"For me I think the scariest part was initially feeling the panic that I had been greatly overpaid for the specific function that I had done and would never be able to replace my now lost income. To a certain extent that may be partially true, but I also discovered that my time on Wall Street had finely honed my sales and general business skills, and that many of my strengths were entirely transferable. I was able to do some very competent analysis of what business opportunities were available, and for me I decided that a proven franchise that serves a counter-cyclical market such as BEVINCO does, might be the best avenue.
I was also drawn to the modest start-up costs and extremely low overhead of the BEVINCO model. I have been very grateful for the overwhelming support I have received from my head office and from all the franchisees that work in the NY and NJ region who have made themselves available for training and questions. I also discovered that my Wall Street-based sales experience allowed me to immediately contribute back as well. While I could have gone out on my own, for me the franchise route took many variables out of the mix and has allowed me to quickly focus on growing my business as opposed to defining it."
About BEVINCO
BEVINCO, recently ranked within Entrepreneur magazine's 2006 Franchise 500® for its fourth consecutive year, is an independent profit control and revenue enhancement service for bars and restaurants. Through a network of independently owned and operated franchise partners using BEVINCO's proprietary software along with the latest in computer and inventory-control technology, bar and restaurant owners are provided with cutting edge management solutions in order to more efficiently run their hospitality business. BEVINCO's proprietary software analyzes liquor, beer and wine inventory activity and produces a variety of industry variance reports. On-site audits identify sources of shrinkage and aid in developing corrective strategies; the result is increased profits induced by increased accountability of the establishments' employees.
BEVINCO is the world's original and number one 'on-premise' solution. To date, BEVINCO has roughly 300 franchisees in about 30 countries and thousands of clients worldwide. The largest group is in the U.S., representing 70 percent of the total, 11 percent in Canada and now 19 percent internationally (Spain, the Caribbean, England, Mexico, Australia, New Zealand, Russia, Europe, South Africa and Ireland to name a few) and growing every month in key markets.
