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Weston resident Frank Lugossy was happy to swap Wall Street for Main Street when he lost his job as an institutional equities trader at UBS.
"Technology was advancing to the point where it was replacing actual traders, he said. I saw how things were changing and decided to make a complete left turn in life." That was in 2005. Today, Lugossy owns two boutique wine shops, Vintage Fine Wines in Wilton and Continental Fine Wines in Greenwich.
"I didn't want to go back to the city, he said. I always liked wine, but I looked at a number of different businesses to own and wine seemed intriguing to me. There is always something to learn about wines."
He bought Continental Fine Wines in April 2006. "The previous owner said, 'Here are the keys, here you go.' I had to learn it from day one," recalled Lugossy.
This first venture was a success. "I cut my teeth in that store. I learned the business." So when another opportunity in Wilton came about last May, Lugossy decided to go for it and open a wine shop there as well.
Although he has shed his suit, corporate title and large paycheck, he says he is just as happy now being a small business owner. "I like it. It is mine. There is no political game I have to play. It is a lot of hard work, but it is mine. Ultimately, how successful it will be depends on me."
Lugossy says his wife and two children, 13 and 17 years old, are also happy with the change. "We definitely changed our lifestyle. We were living in the Fairfield County McMansion, which we sold. We downsized everything. But we are just as happy now," he said.
Do you have a Wall Street to Main Street story? Please let me know at kdrucker@mainstreetconnect.us.
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