Miami Franchise Expo Shows Traction, Despite Economic Woes

After attending last weekend’s franchise expo in Miami, I am pleased to report that franchising is still alive and well, as demonstrated by the strong attendance, and of course 80 degree temps. with sunny skies and low humidity didn’t hurt.

While the country is still in the throes of a credit squeeze and deepening recession, none of that seemed to get in the way of robust crowds in attendance at both the educational sessions and crowded floor of the show on Saturday. That said, let’s keep it real. Everyone is still nervous about what ’09 will bring and how long the economy will remain sluggish. (quite likely until the banks start loosening up their purse strings) Make no mistake though, there is no shortage of SBA guaranteed funds available. Rather, there is however, a stubborn, hoarding of cash, as banks just refuse to make loans and release funds.

On the networking side of things, I was able to enjoy some great success for RetroTax. I made many new contacts for business, both for our core services as well as referrals for franchisee prospects – and yet another, FROM OF ALL PLACES, ANOTHER FRANCHISOR!

This year is going to be tough, though, for everyone. If there's a bright side in the equation, it is that the extensive job loss our nation is facing should lead to stronger franchisee development. The credit squeeze more than the recession, is what's adversely impacting us right now. I believe that most are confident that once the second half of the TARP money gets released, the economic stimulus should start heating things up again.

Business in ’09 will not, cannot be done like it was in years past. There will be winners and there will be losers. The difference, in large part, will be determined by how one plays his hand. Let me hear from you with your thoughts.

Readers, what did you think about the expo?