If you love traveling and investing, you might want to learn from Calvin L. Butts, Jr. and Carrington M. Carter, two HBCU graduates who have turned their passion into a profitable business. They are the co-founders of East Chop Capital, a private equity firm that focuses on the global vacation rental home market.
East Chop Capital was founded in 2018, with the mission to boldly build wealth through strategic investments in businesses, and to positively impact the world. The name comes from a residential area in Martha’s Vineyard, where Calvin and Carrington fell in love with the island’s natural beauty, rich history, and sense of community.
The firm has two funds, one that invests in luxury vacation homes in the US and abroad, and another that invests in affordable vacation homes for middle-class families. The firm manages over $7 million in assets and has generated an average annual return of 25% for its investors.
Calvin and Carrington are both seasoned entrepreneurs who have started and scaled multiple businesses in different industries. They met at Hampton University, where they both graduated with degrees in business administration. They have been friends for over 20 years and share a common vision of creating generational wealth for themselves and others.
They are also passionate about giving back to their alma mater and supporting other HBCU students and alumni. They have donated to Hampton University’s endowment fund, sponsored scholarships, mentored students, and hosted events to promote entrepreneurship and financial literacy.
Calvin and Carrington are examples of how HBCU graduates can leverage their education, network, and skills to create successful ventures that benefit themselves and their communities. They are also proof that traveling can be more than just a hobby, but a source of inspiration and opportunity.
If you want to learn more about East Chop Capital and how you can invest with them, visit their website at https://eastchopcapital.com/ or follow them on Instagram at @eastchopcapital.
Also in the news, a Jamaican Immigrant Builds Million-Dollar Beauty Brand in Just 3 Years Using Waitressing Tips.
Cherice Williams is not your typical beauty entrepreneur. She did not start with a passion for hair or cosmetics, nor did she have any formal training or experience in the industry. She was just a young woman who immigrated to the US from Jamaica in 2016, pursuing a degree in accounting and working as a waitress to pay her bills. She also had a personal problem: her hair was dry, brittle and thinning due to a hormonal disorder called PCOS (Polycystic Ovary Syndrome).
Instead of settling for the ineffective or expensive products on the market, Cherice decided to create her own solution. She researched and experimented with various natural ingredients, especially those from her native Jamaica, and came up with a hair serum that restored moisture, strength and growth to her hair. She named it Mega Gro Hair Serum, and it became the first product of her beauty brand, Blaq Luxury Hair Products.
Cherice did not intend to sell her hair serum at first. She made it for her own use, and had some extra bottles lying around in her living room. She decided to launch a website and sell them online, hoping to make some extra cash. To her surprise, she received her first order at 3 am on January 19th, 2019. The customer was so satisfied that she made a second purchase, and soon more orders started coming in.
Cherice realized that there was a demand for her product, and that she had something unique to offer. She started promoting her brand on social media, reaching out to small pages for free shout outs. She also invested in professional labels, packaging and branding. She expanded her product line to include shampoos, conditioners, masks, oils and more, all made with natural ingredients and catering to different hair types and needs.
Cherice’s journey was not without challenges. She had to balance her studies, her job as a waitress, and her growing business. She faced skepticism and criticism from some people who doubted her abilities or questioned her credibility. She also had to deal with the challenges of running an online business, such as shipping, inventory, customer service and marketing. Click here to read more on Cherice entrepreneurial story.
