You know you’ve made it when you can afford to buy your own private island. That is the upper echelon of wealth. With a private island, you get private beaches and a secluded piece of the ocean in which to relax and have fun. This is the stuff of dreams that only a few, like Larry Ellison, Richard Branson, David Copperfield, Johnny Depp, and Mark and Cindy Pentecost, can afford.
Wait, who? Mark and Cindy Pentecost are a former high school math teacher and his homemaker wife. The couple recently paid $14.5 million for a 104-acre island called Little Bokeelia, located five miles off the west coast of Florida. Mark and Cindy aren’t just a high school math teacher and homemaker; they are also the founders of It Works! – a direct sales business that sold $538 million worth of skin creams, vitamins, health foods, and body contouring wraps last year.
Mark Pentecost has had an entrepreneurial streak dating back to the early 1990s. He was a father of three, a math teacher, and a coach of the varsity basketball team, so he didn’t have much extra time on his hands. He just wanted to make an extra $500 a month to help his family. In 1993, Pentecost became a part-time salesman for Excel Telecommunications, a reseller of long-distance calling plans for landline phones. He soon found that he excelled in the direct sales environment and became one of the company’s top salesmen, earning between $300,000 and $500,000 a year before quitting his teaching job in 1995. However, the rise of cell phones eventually killed the long-distance calling plans industry, leading to a decline in his income until he left the industry in 1999. Yet his enthusiasm for direct sales didn’t die down; he became determined to start his own company.
| Detail | Information |
|---|---|
| Name | Mark and Cindy Pentecost |
| Location of Island | Little Bokeelia, Florida |
| Purchase Price | $14.5 million |
| Company Founded | It Works! |
| Annual Sales | $538 million |
| Real Estate Holdings | 1,000-acre cattle ranch, golf club, corporate headquarters |
Table of Contents
- The Entrepreneurial Journey of Mark Pentecost
- The Success of It Works!
- Real Estate Investments and Holdings
- Acquisition of Little Bokeelia Island
- Lessons Learned from Mark Pentecost's Story
The Entrepreneurial Journey of Mark Pentecost
Mark Pentecost’s journey into entrepreneurship began with a simple desire to support his family. A high school math teacher and a father of three, he balanced his teaching responsibilities with a side job in sales. This dual life laid the groundwork for his future ventures.
His entry into the direct sales industry was a turning point. After working as a part-time salesman for Excel Telecommunications, he discovered that he had a knack for sales, enabling him to earn a significant income. This experience opened his eyes to the possibilities within the direct sales field.
The Success of It Works!
It Works! was founded in 2001, starting as a line of cloth toning wraps targeted at baby boomers interested in health and fitness. The company took off as Mark and Cindy utilized their network for product demonstrations. Their hard work paid off, and by 2005, It Works! became profitable.
Today, It Works! operates on a multi-level marketing model, boasting a sales force of over 100,000 and reaching more than a million customers globally. The company’s international reach includes 19 countries and fulfillment centers around the world, showcasing their massive growth.
Real Estate Investments and Holdings
Mark and Cindy Pentecost’s real estate investments reflect their success. They own a 1,000-acre cattle ranch in Myakka City, Florida, and the Stoneybrook Golf Club in Bradenton, Florida, as well as a substantial headquarters for It Works! in Palmetto, Florida.
These investments not only provide financial security but also serve as a means to reward their employees and family, creating a legacy of success and stability.
Acquisition of Little Bokeelia Island
The purchase of Little Bokeelia Island marked a significant milestone for the Pentecosts. The couple had been eyeing the property for years, and after initial attempts to acquire it fell through, they finally made the deal happen at a price of $14.5 million.
This island will serve as a private getaway for their family and a retreat location for It Works! employees, further solidifying their commitment to their business and family.
Lessons Learned from Mark Pentecost's Story
The story of Mark and Cindy Pentecost is an inspiring example of determination and entrepreneurial spirit. Their journey teaches us the importance of perseverance in the face of challenges, the value of networking, and the potential for success through hard work.
Mark’s story highlights that success can come from unexpected places and that it’s never too late to pursue your dreams. Whether through direct sales or real estate investment, there are numerous paths to achieving financial freedom and personal fulfillment.
