Introduction

Junior Bridgman is a former NBA player. He started his professional career at the University Of Louisville. After playing professional basketball for 12 years, he drew curtains on his career in 1987.  He had a thinking head on his shoulders. The NBA star dreamt of a business empire and was already thinking of business investment during his professional career. But it was after retirement that Bridgman invested all of his earnings from his professional career, in the fast food industry.

Early life and career

Ulysses Lee “Junior” Bridgeman was born on 17^th September 1953 in East Chicago Indiana. He got admission to Washington High School. It was at the school that Junior Bridgman developed a love for Basketball. He played for the Senator Basketball team that won the Indiana State High School Basketball championship.

College Career

At the University of Louisville, he played under legendary coach Denny Crum. He was player of the year in 1974-74. He was a key player in leading his college to the final of the 1975 NCCA Division I Basketball tournament. During his college career, he averaged 15.5 points, 2.7 assists, and 7.6 rebounds in 87 games.

Professional Career

Bridgman after graduating from the University of Louisville got selected for Los Angeles Lakers in the 1975 NBA draft. But just before the start of the season, he was traded by his club to the Milwaukee Bucks for Kareem Abdul Jabbar.

He spent 12 seasons with the bucks and established himself as the key player of the team. He scored in double digits each game in 11 out of 12 seasons for this team. He was a true sportsman and leader. He was respected a lot by his teammates for his working ethics.

He was picked by the Los Angeles Clippers in 1984 where he played for two seasons and got retired in 1987 ending his 12 years professional career. He finished with 11,517 points, averaging 13.6 points per game. His Jersey of No.2 was retired by the Milwaukee Bucks in 1988. He was known as the ‘super sub’ in his team. At the end of his career, the net worth of his career was 4.2 million dollars.

Business ventures were always on his mind. After a successful career in Basketball, he tried his luck in the corporate sector.

Bridgman’s Venture As An Entrepreneur

Junior Bridgman’s mind was business oriented. It was in the days of his profession that he would think about investments.

He thought of the reasons behind the business success of the owners of the team he played for. He concluded that there is no secret behind success in business. It is the dedication toward the goal that matters the most. Junior Bridgman is the second wealthiest retired sportsperson after Michael Jordan.

A study showed that 60 percent of NBA players go completely broke within five years of retirement. But Junior Bridgman had other ideas after retirement. He became an inspiration for people in general and sportsmen in particular. He displayed extraordinary business skills.

The NBA star turned businessman never had earnings exceeding $350,000 in a season. The highest paycheck that he got was from the Loss Angeles Clippers which was $ 350,000. He made an empire from the modest amount that he earned during his sports career.

Bridgman was different from other players who would relax and party after the end of the season. Bridgman man never partied. After the end of the NBA season, he would spend the off-season working at Wendy’s restaurants.

The aim was not money hunting. But he wanted to learn the business model of the fast food industry to establish his own business on a similar pattern. He was still playing in the professional circuit when Bridgman bought three Wendy’s outlets and also attended law school. Bridgman established an empire for himself and his family.

Bridgman Food Inc

Once a customer saw Bridgman working behind the counter at the restaurant. The customer shockingly recognised the NBA star. He went to a local sports talk radio show and narrated the story of the poor fate of an NBA player. The radio show was heard saying “do you want fries with that” What a paradox!

He kept working tirelessly to realize his goal of establishing and consolidating the business. Instead of relaxing during his off time, he would be seen making French fries behind the counters at his restaurants. Initially, he started three outlets and purchased two more shortly after his retirement.

Bridgman had beginner’s luck. His business saw a massive increase in revenue for a startup. In 1997, the business recorded revenue of one hundred and twenty million dollars.

One of his first three restaurants was burned and robbed by unknown assailants. A heavy loss was inflicted upon him but he never let it go. Worked even harder and within a limited span he stretched the number of restaurants to more than twenty.

Bridgman’s path to success is not void of difficulties. In 1999, Bridgman Food Inc filed for bankruptcy as the company was not getting profit to keep the business afloat. He went a step further to weather the storm and invested in a variety of other businesses like real estate and private equity, apart from his food business.

During the first few years, he was not getting much profit and barely reached break even. His unwavering resistance came in handy. He floated every penny of saving into his business. He would work himself for more than 14 years in his restaurants. Over 30 years, he helped Bridgman Food Inc establish more than 450 outlets that include Chili’s, Wendy’s, etc.

Bridgman Food Inc employed over 11,000 people and generated more than 600 million dollars of revenue. Junior Bridgman owned 2^nd largest Wendy’s franchise in the world.

Junior Bridgman’s success owe to his brilliant business mind. It was in 2016, he decided to sell his Chili’s and Wendy’s franchises. The estimated cost of selling was more than 400 million dollars. He thought of venturing into the distribution business of soft drinks. He had the plan to proceed.

Owning Distribution Of COCA-COLA Bottles In Canada

In 2017, Bridgman acquired small-scale distribution of Coca-Cola bottles. His acumen saw the opportunity in the business. In 2018, he signed a letter of intent of acquiring the company. He teamed up with Canadian businessman and Philanthropist Larry Tanenbaum to buy Coca-Cola refreshments in Canada.

Now Junior Bridgman is the CEO and president of Coca-Cola heartland. He owns the company and the production plant in Kansas and Lenexa. Besides, he has 18 regional distributions of the company. His sons Justin Bridgman run the operation of the company with him. The company also covers the distribution in Missouri, some parts of Nebraska, and more than half of Illinois.

Investment In Private Equity

Like a true businessman, Junior Bridgman diversified his income streams and invested in Cyprium Partners, a private equity firm located in Cleveland, Ohio. In 2006, partnering with Cyprium, Junior Bridgman acquired a famous men’s shoe brand ‘Allen Edmonds’ located in Wisconsin.

Bridgman left no stone unturned in taking the company to a next level. The company grew exponentially and new retail stores were opened across the United States. The company was growing at a fast pace. Yet, Bridgman decided to sell the company. In 2013, Allen Edmonds was sold to Caleres, a footwear company, worth $ 255 million.

Bridgman had a great experience with Cyprium and continued investing in private equity. The duo teamed up again in 2016 to acquire the bankrupt Hancock Fabrics. The company was renamed fabric.com. The company was an online retailer of fabric and sewing supplies. Bridgman made the company stand on its feet. He rebuilt the trust that the company had lost. The savvy businessman was not going to stop there and decided to sell the company. In 2017, the company was sold to Amazon.

Real Estate Investment

Apart from investments in food and equity, Bridgman invested much in real estate. Buying and selling commercial properties, shopping centers, lands, and office buildings added to his earnings.

Buying Ebony And Jet Magazine

In 2016, Ebony and Jet were sold to private equity company CVG, based in Houston. But in 2018 the company couldn’t hold against the $80,000 lawsuit of freelancers who were never paid for writings toward the magazine. In 2019, the magazine ceased publication.

In 2020 Junior Bridgeman through his company Bridgman sports and media acquired the Ebony and Jet magazine at $14 million.

Collaborating With NBA And Business For Basketball League In Africa

Bridgman along with the businessmen of Louisville is eyeing to invest in conducting an NBA basketball league in Africa. It will be NBA’s first venture in Basketball outside North America.

Investment Strategy Of Junior Bridgman

Bridgman’s business strategy was not complex. He would mostly invest in the businesses that struggled with their operations. After acquiring the business, he focused on customer service and quality. This strategy worked wonders for him and he was able to attract customers and grew his businesses.

He was not oblivious to any aspect of his business and was always involved in hiring, procuring, inventory management, and a lot more things. The sportsman’s energy benefited him a lot in establishing and succeeding in his businesses.

Personal life

Junior Bridgman is married to Doris Griffith for more than 35 years. The couple has three children named Eden Bridgeman, Justin Bridgeman, and Ryan Bridgeman. All three have MBA degrees and are involved in their family businesses.

Net Worth Of Junior Bridgman’s Assets

At this time the net worth of Junior Bridgman’s assets is estimated to be around $ 800 million.

Bridgman’s Social Contributions

He has contributed to numerous charities and organizations for a long time. He is on the board of directors of Churchill Downs inc and the board of trustees of Simmons College Kentucky. In the past, he had chaired Greater Louisville Inc. He is one of the leading contributors and fundraisers for the $35 million heritage project.

Highlights Of Bridgman’s Achievements

Junior Bridgman has achieved a lot in his 69 years of life.

• In 1999 Junior Bridgman was inducted into the Wisconsin Athletic Hall of fame.
• In 2007, he was inducted into the University of Louisville hall of fame, college of Arts & science.
• In 2009, he got inducted into the Missouri Valley Conference Hall of Fame.
• In 2014, Bridgman was inducted into the Kentucky Entrepreneur Hall of fame.
• In 2017, he became the official bottler of Coca-Cola.
• In 2019, he was awarded the Gold cup award by Louisville Inc for his business contribution
• In 2022 Bridgman became the owner of the famous Ebony magazine.