How Richard Weissman found the silver lining in The Learning Experience

 

Richard Scott Weissman, president, CEO and co-founder, The Learning Experience

Richard Scott Weissman, president, CEO and co-founder, The Learning Experience

Family Business

FINALIST

Richard Scott Weissman
president, CEO and co-founder
The Learning Experience

For Richard Scott Weissman, there’s a silver lining in each storm cloud.

“The best time to learn and grow a company is during the worst of times; adversity builds character and forces a company to develop systems that mitigate risk while never sacrificing the brand,” he says.

Through a focus on core competencies of motivating people and creating lasting concepts in business, Weissman has led The Learning Experience, one of the leading providers of child care and early childhood development services.

But it wasn’t easy street. After a few years as a boutique investment firm operator, he decided that his father Michael Weissman’s business, child care, had a lot of potential, and he wanted to be part of it.

Many serious discussions were held, and there were differences of opinions. Finally, they went ahead with expansion plans and bought a bankrupt rival chain. Michael retired and Richard located a fund to invest in the company. However, the fund wanted to change everything. Richard returned to his career on Wall Street — but then 9/11 occurred.

Richard and the rest of the management team strongly believed that if they could expand and build strong foundations for the company during the crisis, then they would be ready to “explode” when the economy stabilized.

The Weissman family put $6 million into the company to grow during the recession.  Richard felt the need to hand-hold certain franchisees during the economic crisis. Most stayed on board with TLE; however, the few that were not bought into the vision of the Company, left.   He heavily invested in technology, which has enabled the Company to cut from 95 employees to 70 in the corporate office.  TLE has more than 200 schools and is opening on average two new schools per month. It has also reached the mark of being one of the top 10 child care companies in the U.S. as ranked by license capacity.

How to reach: The Learning Experience, www.thelearningexperience.com

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