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Location: New York, NY
Founded: 2003
Industry: Franchising


Gregory J. Carafello


EXECUTIVE FRANCHISE GROUP, LLC is responsible for awarding Cartridge World and Liberty Tax franchises in a number of states. The company’s growth has been driven by “good business acumen, high energy levels and an awful lot of hard work,” says president Gregory J. Carafello. “I could have kept my business very small and had a very nice, simple business, but I [chose not to do that]. You’ve got to be smart, and you’ve got to grow and improve your business acumen. You’ve got to reinvest in yourself.”

Quick Tip: “A leader is a person who can inspire others to reach higher than they thought they could, via leading by example.”

During fast growth, Carafello says, it’s important to keep an eye on cash flow and not spread the company too thin. “If you spread too far geographically, you can have an implosion because you can’t get to two or three different states in the proper manner. You can’t get the right support, you don’t get the local ground work, you don’t get the feel of the land,” he says. “I think a lot of business would do that, but sometimes bigger is not better.” It’s also important to be consistent and stable in leading a fast-growing company, Carafello adds. “You have to keep your head stable, and you have to have a formal business plan. … That business plan should be your Bible. That’s what you look at week in, week out.” Carafello’s five-year goal is to solidify both the Cartridge World and Liberty Tax franchises with additional locations.