The writing has been on the wall for quite some time. Nouveau Riche, formerly known as Nouveau Riche University or NRU, made the announcement last night that as of December 31, 2010 the real estate investment college will stop being sold. Any consumer orders will be fulfilled until the first quarter of 2012, but after that the once great real estate investment college will be no more.
There will be a couple of spin off companies from the death of Nouveau Riche. Apparently ‘The General,’ Bob Snyder, will be taking the reins on what is left of NRU and spinning it off into a real estate MLM with online classes as the core product.
Jim’s New Venture | Bizzibiz
Jim Piccolo, the former CEO and founder of Nouveau Riche, will be launching a new company called Bizzibiz, which will be a franchise model offering social media services to a local clientele. Mr. Piccolo stated in a recent press release that he would be divesting his interests in his other companies, namely Nouveau Riche, to focus on this new venture.
“As a venture capitalist who currently owns and/or operates several other existing businesses, Piccolo further shares the news that, in order to focus on BizziBiz Franchise, Inc., he will divest his interest in his other companies, including Nouveau Riche Corporation, Inc. It, Inc., The Real Market Experts Franchise, Inc., iWizard Technology, and others.”
There is not a lot of information available yet on Bizzibiz. The website www.bizzibiz.com states that it will launch on January 1, 2011. Further reading can be found on www.extremefranchise.com which lists the featured franchise as Bizzibiz, however Extreme Franchise seems to be a part of the Bizzibiz umbrella or vice versa. One very notable piece of information is that several Nouveau Riche Alumni and instructors are listed as Vice Presidents for Bizzibiz, namely Tami and Andre Popa, as well as Phil Lechter.
R.I.P. Nouveau Riche
So out of the ashes arise two new companies, going in two separate directions. Only time will tell how the new Nouveau Riche or Bizzibiz will do, or what what will become of Jim Piccolo, Bob Snyder, and the rest of the Nouveau Riche holdouts.