Roy Carroll: CEO and President of The Carroll Companies
Roy Carroll’s interest in real estate began at a young age, reading articles and investing in his first property at 13. He grew up in a lower-middle-class family and was introduced to construction through his father’s remodeling work.
Early Career and Business
Carroll’s father was laid off from his job, and they started a business together, building custom homes in the Greensboro area. They took a conservative approach, paying themselves once a year and putting a third of the profits back into the business.
Business Growth and Expansion
The Carroll Companies have expanded to include various projects, such as:
- Hyatt Place Hotel and 300 apartments in downtown Greensboro
- AC hotel with a rooftop restaurant and 300 apartments
- Bee Safe self-storage facilities, with a focus on top-end quality and unique features
- Car storage facilities with individual, two-story units for car enthusiasts
Challenges and Successes
Carroll faced challenges during the 2008 financial crisis, but made smart decisions, such as paying off a building to avoid giving it back to the bank. This move helped establish the company’s reputation and led to further success.
Personal Interests and Community Involvement
Carroll is involved in car racing, including the Ferrari Challenge Series, and has partnered with Ferrari for a racing program. He is also committed to giving back to the Greensboro community, which has been supportive of his business ventures.
Philosophy and Approach
Carroll’s approach to business is conservative and focused on finding value and adding to it through execution and renovation. He prioritizes employee engagement and community involvement, and is proud to have built a successful business in his hometown of Greensboro.
Key Vocabulary
| Term | Definition | Example Usage |
|---|---|---|
| Real Estate | Property consisting of land and the buildings on it, along with its natural resources. | Roy Carroll’s interest in real estate began at a young age, reading articles and investing in his first property at 13. |
| Conservative Approach | A cautious and risk-averse approach to business or investing, often characterized by careful planning and a focus on long-term stability. | Carroll and his father took a conservative approach to their business, paying themselves once a year and putting a third of the profits back into the business. |
| Expansion | The act of becoming larger or more extensive, often through the addition of new products, services, or locations. | The Carroll Companies have expanded to include various projects, such as hotels, apartments, and self-storage facilities. |
| Financial Crisis | A situation in which the financial system of a country or region is facing significant difficulties, often characterized by a decline in economic activity and a loss of confidence in financial institutions. | Carroll faced challenges during the 2008 financial crisis, but made smart decisions to help his company weather the storm. |
| Employee Engagement | The degree to which employees are motivated, committed, and invested in their work and the organization they work for. | Carroll prioritizes employee engagement, recognizing its importance in building a successful and sustainable business. |
| Community Involvement | The act of participating in or contributing to the activities and well-being of a local community, often through volunteer work, charitable donations, or other forms of support. | Carroll is committed to giving back to the Greensboro community, which has been supportive of his business ventures. |
| Renovation | The act of restoring or improving something, often a building or property, to a better condition. | Carroll’s approach to business involves finding value and adding to it through execution and renovation. |
| Entrepreneurship | The act of designing, launching, and running a new business or enterprise, often characterized by a willingness to take risks and innovate. | Roy Carroll’s entrepreneurial spirit and vision have driven the growth and success of The Carroll Companies. |
| Partnership | A relationship between two or more individuals or organizations that work together to achieve a common goal or objective. | Carroll has partnered with Ferrari for a racing program, combining his passion for car racing with his business interests. |
| Philanthropy | The practice of giving money, time, or resources to help others, often through charitable donations or volunteer work. | Carroll’s commitment to giving back to the Greensboro community reflects his philanthropic values and sense of social responsibility. |
Watch The Video
Vocabulary Quiz
1. Which word means ‘careful and cautious in business dealings’ as described in Roy Carroll’s approach to business?
A) Conservative
B) Aggressive
C) Risky
D) Adventurous
2. What does ‘remodeling’ mean in the context of Roy Carroll’s introduction to construction through his father’s work?
A) Building new structures
B) Decorating interiors
C) Renovating or improving existing buildings or spaces
D) Demolishing old buildings
3. Which term best describes the process of ‘paying off a building to avoid giving it back to the bank’ as mentioned in the challenges faced by Roy Carroll during the 2008 financial crisis?
A) Foreclosure
B) Bankruptcy
C) Refinancing
D) Repayment
4. What is meant by ‘execution’ in the context of Roy Carroll’s business philosophy and approach?
A) The act of putting plans or ideas into effect
B) The process of designing buildings
C) The practice of buying and selling properties
D) The art of negotiating business deals
5. Which phrase best describes Roy Carroll’s commitment to ‘giving back to the Greensboro community’?
A) Community disengagement
B) Social responsibility
C) Business expansion
D) Personal interests
Answer Key:
1. A
2. C
3. D
4. A
5. B
Grammar Focus
Grammar Focus: Using the Present Perfect Tense to Describe Life Experiences
Grammar Quiz:
1. By the time Roy Carroll was 13, he ____________________ in his first property.
- a) invests
- b) has invested
- c) invested
- d) is investing
2. The Carroll Companies ____________________ to include various projects, such as hotels and apartments.
- a) have expanded
- b) expand
- c) are expanding
- d) expanded
3. Roy Carroll ____________________ his interest in car racing through his participation in the Ferrari Challenge Series.
- a) has developed
- b) develops
- c) developed
- d) is developing
4. By 2008, Roy Carroll ____________________ smart decisions to establish his company’s reputation.
- a) makes
- b) made
- c) has made
- d) is making
5. The Greensboro community ____________________ supportive of Roy Carroll’s business ventures.
- a) has been
- b) is
- c) was
- d) were
Answer Key:
1. b) has invested
2. a) have expanded
3. a) has developed
4. c) had made
5. a) has been