The Rise of Corporate Refugees: Small Business Ventures Among Young Executives

Increasing numbers of young professionals are leaving behind traditional jobs in favor of less glamorous yet profitable small business ventures. The story of Nicole and David Rizzo illustrates this trend as they step into the aluminum equipment industry, showcasing how passion and innovation can lead to successful new ownership.

In today’s shifting corporate landscape, a growing trend reveals younger professionals abandoning traditional corporate roles for small-business opportunities that offer both profits and freedom. Quite notably, individuals labeled as "corporate refugees" are seeking less glamorous, yet potentially lucrative, ventures.

Meet Nicole and David Rizzo, who made the leap into entrepreneurship by acquiring Die Cleaning Equipment, an aluminum machinery supplier based in Phoenix. Their decision was born out of a desire to create a work atmosphere conducive to family collaboration. Although both lacked experience in the aluminum sector — with Nicole having a background in local government and David primarily in farming — a visit to the shop sparked their enthusiasm.

The company they acquired, Die Cleaning Equipment, specializes in manufacturing equipment that cleans aluminum extruders, essential for crafting products spanning from vehicle parts to medical devices. Former owners Steve and Kristin Smith established this niche business, aiming to embark on new adventures in their later years.

Seeing potential where others might have overlooked, the Rizzos invested approximately $600,000 into the business in June 2021, with Nicole taking on the role of chief executive. Within four years, their dedication bore fruit, leading them to recoup their initial investment and thrive in an industry that was as unfamiliar as it was intriguing.

Just as the Smiths dreamt of exploring new horizons, the Rizzos’ journey signifies a larger awakening among young executives favoring less glamorous—yet rewarding—business endeavors. The rise of these entrepreneurial spirits reflects not only the changing attitudes towards work but also the continuous evolution of business ownership in today’s economy.