Leading a small business to success takes passion, commitment and a willingness to grow, which is why many entrepreneurs grow attached to their projects over time. But eventually, business owners must part ways with their companies, whether to retire from leadership or pursue new and better ideas. Hearing the stories of individuals who created successful brands and products can provide valuable insight into the exit process, helping others plan their futures with better intent and gain a deeper understanding of what it takes to navigate the buy-sell market.
On this episode of The Roadmap, host Ted Jenkin is joined by Zach Wojohn, CEO of Valet Vault, a podium and signage company serving the hospitality industry. Wojohn has led a long and prosperous career in the parking and valet business. His willingness to accept challenges and tackle ideas that few others would want to face has helped him become a capable and visionary leader. Now, he joins the show to discuss his professional journey and the hardships that ultimately proved to be the catalysts for his small business.
Key Takeaways
1. The Valet Vault brand was created after several cars whose keys were cared for by Wojohn’s valet company were stolen.
2. The Valet Vault anti-theft podium was designed to keep keys securely locked, helping both large and small business owners save money, avoid lawsuits and protect customer property.
3. The podiums are sturdy, heavy and made of aluminum to avoid rusting. They also come with internal lighting units to help valets see in the dark.
4. Developing a prototype and launching a successful small business took substantial patience and investment.
5. Rather than accepting the first offer that comes his way, Wojohn plans to choose the right buyer to care for his small business since he wants other companies in his industry to have access to the products they need.
"The goal was to fix our own problem, then the goal was to help the parking industry as a whole, so if I feel like I'm going to sell, it's going to need to be to somebody who I feel is going to be as committed as I am to try and assist the industry that has given me so much." — Zach Wojohn