Minority Firms to Get ‘Magic’ Johnson Tips

Hundreds of small and minority business owners are expected to gather today for the first installment in a 12-city tour designed to give entrepreneurs the tools to be more successful.

Ex-Lakers great Earvin “Magic” Johnson, chief executive of Magic Johnson Enterprises, will be the face of success presented to participants at the “Tour for Success,” a free seminar that will include advice from Johnson and others on topics ranging from getting started and securing financing, to becoming a minority supplier and finding franchise opportunities.

Johnson’s company has secured partnerships with many marquee companies to open everything from movie theaters and Starbucks coffee shops to T.G.I. Friday’s restaurants.

He said at a news conference Monday that he hoped to be able to offer participants advice that he didn’t get when he began as an entrepreneur 15 years ago.

“I put up a [sports memorabilia] store in the Baldwin Hills Crenshaw Plaza, but I didn’t do the research,” said Johnson, who now owns a movie theater in that same complex.

“Foot Locker was there selling the same thing. We never really made any money. You’ve got to do the research,” he said.

He added that the conference at the Hyatt Regency Hotel in downtown Los Angeles will give him a chance to “share my knowledge.”

“If you have the information before you get started, you won’t lose a lot of money.”

The tour is being organized by the Global Diversity Group Inc., a networking organization for minority entrepreneurs and is sponsored largely by $150,000 from Volvo of North America. Other cities include Atlanta, Philadelphia, Chicago and Washington.