Dwyer-Ownes Testimony Showcases Value to Tax Credits

Kudos to International Franchise Association (IFA) Chairwoman Dina Dwyer-Owens, for her testimony before the United States House of Representatives Committee on Small Business, on Wednesday, September 30, 2009.

As part of her testimony, Dina addressed the importance of extending two categories of the WOTC tax credit program, born out of the Stimulus Bill, until such time as the national unemployment rate subsides. The following relevant excerpt from Dina’s testimony, would certainly favor our business at RetroTax.

“The American Reinvestment and Recovery Act also provided important tax relief to small businesses through the Work Opportunity Tax Credit and capital gains tax relief for businesses organized as S Corporations. The Work Opportunity Tax Credit assists franchise businesses in hiring unemployed veterans or youth who are not in school or already employed. This tax credit should be extended until our national unemployment rate returns to pre-recession levels. Additionally, I believe Congress can do more to assist our returning military veterans with the transition to civilian life, which I will mention in a moment.”

You may read Dina’s testimony in its entirety, at the IFA’s website. You may link to it directly, below.

www.franchise.org/capitalaccess.aspx

RetroTax Featured on Fox Business Live in New York

3 Questions With Steve Romaniello

Steve Romaniello,
Managing Director of Roark Capital Group

In addition to Managing Director of Roark Capital Group, Steve Romaniello is Chairman of the Board of FOCUS Brands, the franchisor and operator of nearly 2,200 ice cream stores, bakeries, restaurants, and cafés in the United States, the District of Columbia, Puerto Rico, and 32 foreign countries under the brand names Carvel®, Cinnabon®, Schlotzsky’s®, Moe’s Southwest Grill®, and the franchisor of Seattle’s Best Coffee® on military bases and in certain international markets. Focus Brands also sells its famous ice cream cakes in over 10,000 retail outlets through New Britain, CT-based Celebration Foods, Carvel’s manufacturing and distributing division. Romaniello also serves on the Board of Directors of FASTSIGNS Holding Corporation, the International Franchise Association (IFA), the IFA’s Diversity Institute, and the Atlanta Franchise Alliance.

Prior to joining Roark, Romaniello was President and Chief Executive Officer of FOCUS Brands (2002-2008). Steve joined Carvel in January 2002 as President of the franchise and foodservice division, and led the strategic turnaround of Carvel, one of America’s favorite ice cream brands. During his tenure at Focus Brands, Steve led the acquisition of Cinnabon® and Seattle’s Best Coffee® International in 2004, Schlotzsky’s® in 2006, and Moe’s Southwest Grill® in 2007.

Prior to Focus Brands, Romaniello was President and Chief Operating Officer of US Franchise Systems (USFS). Romaniello helped grow USFS from one brand with 27 hotels in nine states to three brands with over 500 hotels in 47 states and 5 countries. Before joining USFS, Romaniello was a Vice President at Holiday Inn Worldwide’s, responsible for franchise sales, services, support, and training for the 1,700 hotels in the U.S., Canada and the Caribbean operating under the Holiday Inn and Crowne Plaza brands. During his tenure, Holiday Inn Worldwide increased its franchise from 60 in 1991 to 300 franchises in 1995. From 1988 to 1991, Steve held various positions with Days Inn of America. Romaniello is a graduate of Tufts University.

Since moving over to Roark as a Managing Member, what have been your primary initiatives?
Since moving to Roark my primary initiatives have been to support certain of our franchise portfolio companies, including Focus Brands, Money Mailer, McAlister’s, and Fast Signs (Roark affiliates also control Primrose Schools and Batteries Plus, two other leading franchisors). I have also helped organize the second annual Roark Franchise Summit which brought together 90 executives from our franchise companies for leadership development training and to work on best practices. Finally, I have been helping the team in finding investment opportunities in the franchise space and evaluating and acquiring brands. Roark has over $900 million to invest and we recently announced an agreement to acquire Pet Valu, a leading Canadian based franchisor of specialty retailers selling pet food and pet products.

When do you foresee an improvement in our economic climate?
I think the economy is at or near the bottom though we expect choppy waters on the way back up. Our best guess is that the improvement will be gradual and recent improvements will likely not accelerate until unemployment bottoms out sometime next year.

As a franchisor in Atlanta, what regions have you seen attract the most franchisors and why?
Atlanta is home to a large number of franchise companies- some of the best brands and franchise leaders in the industry are here. One other notable area is Colorado, specifically Denver. While I am not sure what attracted them to the region initially, I think their presence is more visible because the leadership there is top notch and committed to franchising as an industry.

BONUS: Where is your favorite travel spot and why?
Italy! Do you really have to ask why?

Interested in connecting with Steve Romaniello from Roark Capital Group, (404) 591-5215, http://www.roarkcapital.com/; stever@roarkcapital.com.

Three Questions, interviews conducted by Stan Friedman, President and Co-Founder of RetroTax, appears twice a month exclusively at http://www.retrofacts.blogspot.com/.

Determining Your RIGHT Target Market

We’re in a very different economic environment today, different than ever before. Beyond that, most experts have said that even after we pull out of this recession, what we used to regard as "business as usual" in normal times, is forever gone.

According to Ron Feldman, CEO at Siegel Financial Group and RetroTax franchisee, one issue affecting the franchise development community is that as a whole, it doesn't fully understand some of the implications of current financial and market situations, relative to the selection process. From the perspective of industry/geographic issues, the food sector in particular, is suffering from a moratorium of sorts, by many lenders. Ron also says that areas that have been hard-hit by residential real estate problems are being looked at negatively by franchise lenders as well. Unfortunately, many of these are also areas that franchisors have targeted for growth and development.

In this economic climate, now more than ever, franchisors must focus on the RIGHT development strategies.At RetroTax, we look for franchisees in markets where there are opportunities for their clients to benefit from both geographic as well as demographic tax credits.

Whatever the product or service offering, franchisors in this new climate should only be developing in markets that provide the very best opportunities for an operator’s success. There is just no longer room to give “iffy” markets a try.

While development strategies may vary from market-to-market, the line must be held on the quality of the candidates being considered. At RetroTax, franchisees can be successful in either urban or rural markets, so long as those markets are zoned for geographic, as well as demographic tax credit opportunities. The franchisee's skill sets though, remain the same, in either circumstance. That said, franchisee selection should be as strict as market selection. We, as franchisors, must set the table and provide our best candidates, with the best market opportunities available, in order to achieve success.

Begin with the end in mind. Know where to grow and who to grow with. Consider nothing short of the best applicants for your brand, properly calibrate and manage expectations, both theirs and yours, so that all are in alignment. While this environment is certainly challenging, opportunities still abound for those who are willing to work hard and smart and make some necessary adjustments.

Save the Date: September 9 in Atlanta

While we have yet to announce the special location, (be sure to tune in to our LinkedIn Group or our Facebook Page later next week, for details) we have announced the date for the next Atlanta Franchise Alliance networking event and meeting. It is Wednesday September 9, 2009 (Yes, that’s 09, 09, 09), and we will be presenting a powerful expert and speaker, to help us all navigate the tangled mess that has resulted from the recession and credit freeze, and its impact on franchising.

On 9/9/09, come hear one of the foremost authorities on franchise finance, the state of the credit freeze and its impact on franchising, as Ron Feldman, CEO of The Siegel Financial Group (and a RetroTax franchisee) updates us on how we got here, where we are and more importantly, where we're heading.

As those of you regular attendees know, most of our events are purely centered around networking, so having a speaker is a treat... but having Ron Feldman as that speaker, provides an exponential "added value" to the 9/9/09 event. Whether you are a franchisor, a franchisee, a member of a corporate team from either, a supplier, an attorney, ir any an interested party, who's income is dependent upon the well being of those in the franchise space, do not miss this event.

Again, be sure to check out our Web site, LinkedIn or Facebook later next week for additional details – and of course, as always. check my blog. Hope to see all my franchising bretheren on 9/9/09. Check back soon, for updated 411 on the location.

Networking: How To Get The Most Out of Networking Events

With the Franchise Leadership and Development Conference right around the corner (September 23-25 at the Drake Hotel in Chicago), I wanted to go over a few networking opportunity tips that I have come to learn over my years attending events like these.

TACKLE OTHER PEOPLE’S MISTAKES
It never ceases to amaze, how many times I meet someone at a networking event and they do not have a business card with them. Make your business card like your AMEX card: “DON’T LEAVE HOME WITHOUT IT!”

Don’t rely on your memory. When you meet someone at an event and exchange cards, make notes on the back of their card as a memory trigger for reference. If you work your way through a networking event correctly, you should have collected far more cards than the average person’s memory can account for, without a reference point.

EXCHANGE OF BUSINESS CARDS
Meet and swap cards with as many people as possible and save your more in-depth conversations for a follow-up call or meeting. Taking too deep a dive at the event will limit your opportunity to meet more potentially interesting and valuable contacts.

STUDY YOUR APPROACH CAREFULLY
Approach the same level of interest and sincerity as you would exhibit in a meeting with a new or existing client, but remember the timeline is more like a lightning round than that of a longer, fact-finding or consultative session.

Also, approach networking opportunities with interest in learning just enough to make you want to know more; conversely, sharing just enough to make someone meeting you want to learn more as well.

Finally for preparation, here’s the trick I use: keep your business cards in your left pocket, and those that you collect in your right. You NEVER want to give someone a card that has notes on it—yours or someone else’s.

I will execute these simple, yet effective, strategies at the upcoming Franchise Update Leadership and Development Conference, one of my favorite events for networking within the franchising community. While many in attendance will be those that I already know well or have met at past franchise events, I will also meet dozens of franchising industry professionals for the very first time. In the almost 10 years that I have been attending this event, great things have always resulted from the networking that I did during the conference.

I have continued to come back for this conference annually because it is laser targeted and specific in its content. It is big enough to attract high quality industry leaders, speakers and keynotes, yet small enough to still feel intimate. One can actually look for and find just about anyone that they may want to circle back to and have a deeper conversation and not have to compromise “official” networking time to do it.

3 Questions With Brian Schnell

Brian Schnell, Partner at Faegre & Benson, LLP

Brian Schnell focuses his practice in franchising and product distribution law. He is a leader of the Faegre & Benson Franchise Team, a premier international franchise practice representing more than 200 franchisors with headquarters based in 35 states and seven countries.

Based at Faegre's HQ in Minneapolis, MN, Brian counsels both emerging and mature franchisors in a variety of industries with regard to all aspects of their franchise programs. He is the lead corporate franchise lawyer for more than 80 franchisors, ranging from companies with thousands of locations worldwide to companies who are in the initial stages of building their franchise systems. These clients operate in dozens of industries including restaurants and related food businesses, hotel, health and fitness, media, automotive aftermarket, pets, convenience stores, children's, and many commercial and residential service and retail segments.

Brian is a past chair of the International Franchise Association (IFA) Supplier Forum and a member of its Legal/Legislative, Awards and Membership committees. He also serves on the board of trustees for the IFA Educational Foundation and the Franchise Advisory Board for WomenVenture. He is a frequent and well-regarded speaker and author on franchising. The first male to receive the IFA Women's Franchise Committee Crystal Compass, Brian was distinguished for this honor in 2009 based on his leadership in franchising. He also is one of only eighteen franchise lawyers recognized worldwide by Chambers Global.

What can guests expect at this year’s Faegre Franchise Summit?
As delivered at past Summits, our Summit guests can expect lively and robust discussion on financial, social media and leadership topics. Our Summit speakers are all industry leaders who will facilitate a passionate discussion on best practices that will make an absolute difference to franchisors and franchise systems.

What are the hot legal topics in franchising this year and what do you foresee coming in 2010?
Candidly, there is not much new on traditional legal topics other than perhaps how franchisors should legally address social media and its utilization in their franchise systems. The hot topics exist on the legislative front with what is happening on Capitol Hill regarding financing availability for small businesses, health care, employee free choice act and other critical small business issues. If there ever was a time for franchisors and franchisees to attend IFA's Public Affairs Conference and reach out to their legislators, September 2009 is that time. In addition, a number of states are increasing their efforts on the tax front in order to help state budget shortfalls. 2010 will be an interesting year on the legal front, as much of what happens next year will depend on how franchisors and franchisees resolve their differences in these economic times. Franchisees and franchisors will struggle and some will fail. If the parties resort to courts and arbitration to resolve problems in confrontational and expensive proceedings, we will see new law (not necessarily good law) that will impact the future of franchising.

When do you foresee an improvement in our economic climate?
We are beginning to see early recovery signs now, but it likely will be the first quarter 2010 before the recovery really catches stride. In that regard, it is critical for franchisors to continue to act now in order to assist franchisees to get through this tough period and understand changes in consumer buying patterns and then be poised to take advantage of market share opportunities.

BONUS: What is your favorite restaurant in Minneapolis and why should people try it?
Manny's (http://www.mannyssteakhouse.com/ 821 Marquette Ave; Minneapolis, MN 55402; (612) 215-3700) There is nothing better than a great steak coupled with a fantastic bottle of wine.

Three Questions, interviews conducted by Stan Friedman, President and Co-Founder of RetroTax, appears twice a month exclusively at http://www.retrofacts.blogspot.com/.

RetroTax Welcomes Bob Ritter, Franchising Industry Veteran, to the Team!

As the co-founder and President of an emerging franchise concept, supporting existing franchisees, along with the ongoing growth of the network, are my two top priorities. Well this week, in one move that I am extremely proud to share with you here, RetroTax has accomplished both, when Bob Ritter, veteran franchise professional, joined the team as Vice President of Franchising and National Accounts.

As has been the case with so many industry peers, I met Bob Ritter through the IFA. Bob and I first connected at an Annual IFA Convention back in the day, and we have become really good friends since. I’ve always been impressed with Bob’s tremendous appetite for knowledge and how well networked he was with the franchising community’s leadership. It’s been during the past two years though, that we developed an even stronger business bond and personal friendship. All of this occurred at the same time that Al Newcomb and I were creating and launching RetroTax.

During this period, I’ve been traveling more frequently to Bob’s home-town of Indianapolis. Indy also happens to be Home Base for RetroTax. When Bob and I first began talking about my new business concept, (over a beer or two, I might add) he became extremely intrigued by the RetroTax concept. Like me in years past, Bob has spent a great deal of time involved with a concept that occupies a highly competitive, crowded market space. Conversely, RetroTax represents a unique b2b offering and is a virtual stand-alone, in terms of competitive franchise offerings. Before learning too much more about our concept, this fact alonw, captured Bob's attention and interest.

As Vice President of Franchising and National Accounts, Bob will perform multiple roles, as a powerful utility player on the RetroTax team. His diverse experience will be called upon to assist with the development and training of new franchisees, support of existing franchisees, and the growth and management of our National Account relationships. Additionally, Bob’s skill sets will also provide a real boost to the leadership development of our Indianapolis-based franchise support and tax credit processing teams.

Recruiting someone with Bob’s expertise and strength of reputation is a major coup for the RetroTax team and we are extremely proud to welcome him to the family.

Back from the 4th, Let's Talk About a Slice of Americana!

For business owners and executives, being involved in groups and associations that are intertwined with your business model is a very important component of success. As a franchisor, I believe that it's essential to be involved with the IFA, (International Franchise Association) because of the opportunities that it provides for political advocacy, education, the sharing of best practices and obviously, for networking with other franchising professionals.

Equally as important in my view, is the need to engage with commercial/civic associations that help to advance the core offerings of your business model and it's concept. For me, that screams the value proposition being served up by the U.S. Chamber of Commerce and their BCLC. (Business Civic Leadership Center).

Last March, I was exposed to the U.S. Chamber and the BCLC for the first time, as I was invited to speak at their Annual Conference. The program was themed around “Corporate Community Investment" and my topic was, you guessed it: "The power of wage-based, tax credits, and the impact that they can have on your bottom line." (See previous blog posts for more about this topic) This event brought together, some 300 business and civic leaders from all over the U.S.A.

When I arrived at the pre-conference reception, my first impression was that the gathering seemed a bit small, given that this was a national conference. That impression was quickly erased though, as I started talking with some of the other speakers and attendees. In fact, I was very quickly reminded why it is NOT a good idea to judge books by their covers. Truth is, there was a great deal of power harnessed in this group and it was the BCLC that brought it all together. This assemblage represented a cross section of America's DNA, it's very engine, if you will. Included were: for profits, not-for-profits, representatives of both the public and private sectors, executives from large corporations, mom and pop operators from Main Streets across America, fledgling, community-based non-profits, standing alongside representatives of mega-large corporate foundations. Representatives of local and regional Chambers of Commerce attended, as did the Mayors of large and small American cities. Also found in the mix were representatives of the U.S. Governors Association, the U.S. Small Business Association, The Department of Defense, even the White House was represented at this conference. Beginning to get the point? It was no doubt, an eclectic group.

Regardless which market sector you represented when you got there, the BCLC and the Chamber brought this public/private sector conglomeration together for the purposes of attacking a single common focus: that being, how to expedite economic recovery in America. In fact, "Together for Recovery" was the subset of this entire summit. A lot of incredible results were born out of this conference, but there is still a lot of heavy lifting left to be accomplished. Look into joining the BCLC and the U.S. Chamber. If you are not aware of the good that they do, visit www.uschamber.com/bclc/about/default , and get involved! Help make a difference, as only YOU can. Whatever effort you put forth, will pay you back ten-fold.

Personally, I developed some great relationships as the result of this two-day BCLC conference. Consequently, I am now working closely with several organizations that I might never have otherwise been introduced to. I’ve also been smitten by the BCLC, the U.S. Chamber and the dedicated team of professionals that make this organization work. This has culminated in my commitment to do more for and through this organization for the common good of myself, my business, the BCLC, the U.S. Chamber, its members and the people that they serve.

Five Things You Didn’t Know About Tax Credits, But Should

Many business owners and executives don’t know the first thing about wage-based tax credits. Frankly, that’s OK with me, especially since that’s what we’re all about. RetroTax was conceived to help remedy that problem and then assist with the administration of these very complex programs.

Business owners that do know about these programs often stray away from them because they seem too complicated to manage. Once again, RetroTax provides the fix to that dilemma. Here then, are five things you didn’t know about wage-based tax credits, but you should:

1) These programs are not only available to mega large corporations: In fact, wage-based tax credits are available for all companies – small or large. You don’t have to be the big guy to benefit from these credits – you just have to employ people. They need to meet certain demographic or geographic criteria, but odds are that some percentage of your employees will qualify for something.
2) In reality, almost any business employing 10 or more people will be eligible for something: So, don’t leave money on the table, especially in today’s economy. There could be significant amounts of money available, that you are missing, simply because you didn’t know these programs existed for you to benefit from.
3) Tax credits are like money in the bank, as they can be carried forward for as long as 20 years: So, even if you are not tax liable for some reason in the year you earn these credits, that’s no problem, you can hold on to them and apply them in future years.
4) Several of these programs are retroactive: Meaning that just because you didn’t know about this previously, you actually still go back and reclaim credits that you were eligible for, from the past three years.
5) April 15th is the only day to focus on for tax credits: WRONG. As many as eleven categories that qualify you for these credits only apply to future hires. So, each and every day that you wait could cost you thousands of dollars.

There is absolutely no reason why any business shouldn’t at least inquire about these possibilities. All it takes is a simple conversation and a little research into the possibilities. So, what are you waiting for. Give me a call today!

RetroTax Identifies Ideal Markets For Growth – 200 EZs,RCs, Less Developed Census Tracts and Rural Renewal Counties, but for now...

Throughout the last year, RetroTax’s growth has been focused on the start-up of our new franchisees and the addition of a few more. Now, with their operations up and running, we're all focused on connecting our services with business owners in five major cities, while continuing to focus on our next stages of development: Growth into new markets.

While there are many markets prime for RetroTax’s operations and services, we have strategically identified our next “hot” markets as the Federal Empowerment Zones and Renewal Communities of Washington, DC, Baltimore, Milwaukee, Southern California, San Antonio and Columbia/Charleston, SC. Our concept has attracted significant interest from prospective clients and franchisees and the media alike. From the prospective client and media side, there is always a great deal of intrigue around our not-so-widely known core services, the administration of wage-based tax credits for business owners. For prospective franchisees, the focus is on our unique business model, it's low cost of entry and overhead, the B2B lifestyle and of course the desire to fulfill one’s dreams.

As for who's right for us, when we began, I believed the profile of our ideal candidate would be someone with strong interpersonal skills, and intangible sales experience. High level, intangible sales experience. Someone who would be comfortable in the C-Suite, going toe-to-toe with an executive, business owner or high level corporate officer.

While I still believe those traits are paramount, I have learned along the way that previous business ownership or management experience is every bit as important. Our franchisees must focus on both long-term strategies and the big picture, while at the same time executing the day-to-day tactics required to successfully market, farm, hunt, and harvest new business.

We are all very focused and committed. Together, we are building a culture and a brand the right way, in the right places, with the right people, at the right time. That is what will propel us even deeper into the cities and businesses that we strive to work closely with.

RetroTax Opens Shop in Philly; Welcomes First Franchise Industry Supplier as Franchisee

Virtually nobody in franchising will recognize my new Philadelphia franchisee by its corporate name, SFG Tax Credit Services, LLC, but they will recognize these names: Bernie Siegel, Ron Feldman and Nate Greenberg. Yes, Philly’s first family of franchise financing has become the most recent addition to the RetroTax franchise family. Siegel Capital and its principals have played a prominent role in both my professional and personal life for a great many years.

What’s more, Ron, Nate and Bernie exemplify a very significant cornerstone of what our business model is built upon: TRUST! Bernie Siegel began doing financing deals for me back in 2003, while I was still at Wing Zone. Over time, Siegel Capital went from being just one of "many" sources for our 3rd party financing, to being our SOLE source. Why? It was because they got our deals done quickly, efficiently and happily, for all parties to the transaction. Franchisees were happy because Siegel helped them avoid the endless mire of red tape associated with SBA loans. The banks were happy; because they knew that any deals that Siegel brought to them were properly vetted and correctly packaged.

As the Franchisor, I too was happy, because transactions closed and funded on schedule. There were never any wrinkles or hiccups, attributed to financing. I don't mean to speak for Bernie, Ron or Nate, but somewhere in this equation, the trust factor must have cut the other way as well. I am extremely moved by the amount of trust that these guys have placed in me, my partners and the entire RetroTax team and family. As a young franchisor, It is very flattering when anyone says yes to us, but when its guys like Ron, Bernie or Nate, prominent peers in franchising and friends that I have known personally for years, it is extremely humbling. As my partner Al would describe it, it’s rather “heady.”

In addition to the amount of credibility that these guys bring to us collectively, from within the franchise community, let’s also remember that Bernie the rocket scientist, (I kid you not, he was actually an aerospace scientist) before becoming a business broker and intermediary extraordinaire, has been hard wired to Philadelphia's business leadership for more than 20 years.

To have this group sign on is certainly a testament to the fact that those people that I take seriously in franchising are certainly viewing us in kind. There is no telling (yet) who our next franchisee will be, but it’s all good and gets nothing but better from here.

Update on The Recession Friendly Franchise – RetroTax

Amazing how fast this year is zipping by. With each and every meeting that we take with a prospective franchisee or business client, we are creating more and greater opportunities for the growth of our company. Right now I am at our processing center in Indianapolis, overseeing the training of our newest franchisees, RetroTax No. 6 (more to come on these “high profile” guys in an upcoming blog).

Our business won’t slow either. By year’s end I expect to have at least six more franchisees trained and operating. Being that we are a boutique type concept, this will be a tremendous measure of success for our young company. RetroTax was never contemplated to be an offering that would put out dozens or hundreds of franchise units in any given year. Six more by year end would have us at a total of 12, in less than two years. That is a number that I will be very proud of. Actually, for me the real measure of success comes from the numbers that the franchisees post, (sales and margin) not the number of franchises that we award.

For certain, times like these are troubling, but things around here are good. That said, this economic climate can be humbling. At this stage of our growth and development, our biggest challenge as a franchise concept and company, is deciding how, when and where to deploy our assets, both current and future. As we grow, we will continue to make enhancements and additions to our infrastructure. Our plan is to plow ahead aggressively with our development strategy, despite the fact that the world around us is still locked in the grips of recession. We can ill afford to sit around and wait for an upturn in the economy, before upgrading systems, technology and human resources. One such major addition is the introduction of a new position on our. org chart. RetroTax now proudly boasts the addition of a Director of State and Local Tax. That position has been filled by a very talented “recovering attorney” named Carol Stephan. Carol is an accomplished professional in the field of State and Local tax and we are extremely proud to have her on our team. Along with Carol, our recently inked alliance partnership with the Ryan Company brings a whole new level of services and programs for our franchisees to offer and for us to administer.

So, challenges like recession do breed opportunity. We face no shortage of interested parties to talk with, regarding our core services and our franchise offerings. When times are good, people like what we do, because we save them money. In times like these, people LOVE what we do and are interested in learning how they too, can become part of the RetroTax team.

More updates to come.

Together for Recovery Provides Path for Economic Resolution

A few weeks ago, I wrote about an organization that I have recently been introduced to and for whom I have subsequently committed to work tirelessly. It is called the Business Civic Leadership Center. (BCLC) is an arm of the U. S. Chamber of Commerce. Its mission is to advance the positive role of business in society. As such, (BCLC) and the U.S. Chamber work with leaders from business, government, and non-governmental organizations to address and act on shared goals.

Given the depth of the current recession and credit freeze that our nation has been feeling the pains of, since at least Q4 of 2008, one such goal has been to find a way for all of those served by BCLC to weather this storm. In early May, 2009, (BCLC) and the U.S. Chamber actively engaged the business community, government, and nonprofit organizations to help America get back on its feet. It did so during a Rally for Recovery, at its annual National Conference on Corporate Community Investment in Chicago.

Subsequently, (BCLC) launched: http://www.togetherforrecovery.org/ At this portal, business owners, non-profits, individuals will find a one-stop-shop for information and guidance regarding economic recovery. BCLC and the Chamber has assembled the largest collection of examples on how the business community is part of the solution to economic recovery. If your company is doing something to help blunt this recession but is not yet listed, please tell (BCLC) what you are doing, so that they may update the site and share this with their subscribers.

Personally, I wish to thank Katie Loovis, Director of Business and Society at the (BCLC) and Stephan Jordan, Senior VP of the (BCLC) for inviting my participation in the video that is found at http://www.togetherforrecovery.org/ (BCLC) and the U.S. Chamber are committed to ensuring that that American businesses thrive, and that those of us on Main Streets across America emerge as victors, not victims of these trying times. My sincere thanks to each and every member of their team, for all that they do. Let me encourage you too, to become engaged and involved in the work of this organization.

ATLFA Meets This Week: If In Atlanta, Don’t Miss It

I would like to personally invite all of the RetroFacts readers to the Atlanta Franchise Alliance’s May meeting, 5-7 p.m. tomorrow (Thursday, May 21, 2009) at the Paper Mill Grill, 305 Village Parkway, in Marietta, GA.

The meeting is a great networking event and an opportunity to connect with your franchise colleagues from Atlanta.

To understand the value of the ATLFA, one must first understand our growth, as throughout the last year it has been two-pronged. First and foremost, we continue seeing many first-timers at our networking events, which is always a great indicator of growth. Secondly, we are growing internally, with the addition of four new members of our board in 2009. They are: Nick Powills, CEO, No Limit Media Consulting, Rich Greenstein, Partner, DLA, Piper, Greg Cory, CEO, eMaximation and David Asarnow, President, CEO at CLIX Portrait Studios.

This week, without a doubt, the economy and its impact on our businesses and ability to obtain credit and financing for new and existing franchisees will be top-of-mind. That remains the hot topic everywhere.

Our topical meetings set the tone for great interactions. Anyone with an interest in keeping up to date on what’s going on around them in franchising should clear the calendar for tomorrow night. Whether you are a franchisee, franchisor or a supplier, this is where to connect with all of those on the cutting edge of the franchise business model locally.

Interview on WGRZ Buffalo on Franchise Ownership

Good morning from Buffalo, NY. I am there for the “Building Buffalo Businesses Through Franchise Ownership” event at the Hyatt Hotel. If in town, anyone interested in franchising should come on by.

Last night, WGRZ interviewed me about the event. Take a look:


If you are able to make it, below is the schedule of events:
8:00 am – 8:55 am Registration and Networking with Exhibitors

9:00 am - 9:15 am Welcome and Greetings –
Mayor Brown and representation from partnering organizations

9:15 am - 9:35 am “Franchising: Building Local Businesses, One Opportunity at a Time”

9:45 am – 10:45 am Session I (Select one)
A – “Experiences in Franchising: What are Franchisors Looking For and How I Did It”
B – “Legal Aspects of Franchising: What I Need to Know Before Signing on the Dotted Line”

10:45 am –11:15 am Networking with Exhibitors

11:15 am - 12:15 pm Session II
C – “Is Franchising Right for You?”

12:30 pm – 1:30 pm Networking Lunch/Time with Exhibitors

1:45 pm – 3:00 pm Closing Session
“Finance and Technical Assistance- What Resources are Available”

3:00 pm - 4:00 pm Networking with Exhibitors

Thinking Of Opening A Franchise Business?

This is an article published on WGRZ Buffalo’s Web site about RetroTax and about an initiative I hold near my heart – franchise development; and franchise development in Buffalo.

If you've always thought about opening a franchise business you might want to start with a stop at the Buffalo Hyatt on Wednesday.

Maybe you've always thought about opening a franchise business, ..but you had a steady job.

Maybe you've lost that job, and with nothing else to lose, you're now thinking of pursuing that long held dream.

You might want to start with a stop at the Hyatt Hotel in downtown Buffalo Wednesday. There, an all day seminar will be held called "Building Buffalo Business Through Franchise Ownership". It is sponsored in part by the International Franchise Association which includes Stan Friedman among it members.

"It's a program that's geared toward educating consumers as to how to be a good franchisee, what to look for, how to find opportunities," said Friedman. "It will also focus on what you need to know from the legal aspects of franchising, learning about financing your dream and getting into a concept that's right for you," he said.

While most can rattle off the names of franchise businesses in the retail and dining sector , Friedman says there are numerous other opportunities for which franchise fees and start up costs are a fraction of what a popular restaurant chain might command.

"There are many businesses or business models that are franchised that have nothing to do with anything that you and I and the average person may have ever heard of."

Friedman says there are franchise opportunities for fundamental services such as health or elder care, ...which don't slow during a recession and don't require heavy investment in real estate or equipment.

He cites his own business for which franchises are available as a prime example. Freidman is the franchisor for RetroTax, which is a business to business service. It basically assists other firms in finding tax credits and other incentives which they may be eligible for but about which they are unaware.

"The government puts 11 billion dollars out there in incentive money on one hand, then makes it so impossible for you to figure out how to get the money on the other," Freidman said. "Without a business like mine, most of these businesses that could claim these credits would never do it."

He notes that someone seeking a franchise opportunity with his firm needs not much more than a suit of clothes, a blackberry, an office, and the drive to succeed. But he concedes they also need one more thing to begin a franchise in any field.

"They've got to have some money to start with, and the ability to get some more." Thomas Ulbrich, who serves as Executive Director of the University at Buffalo's Center for Entrepreneurial Leadership says that's where a lot of dreamers are in for a rude awakening. "If you're preparing to look for money or seek a loan, you better be prepared with a solid business plan and you better have very good credit,"

Ulbrich told 2 On Your Side, noting it's even more essential these days as banks tighten restrictions on credit. Both say one thing you don't need to have to be a successful franchisee is a business degree.

"The opposite is more the case because you've got a play book in front of you in franchising," said Friedman.

"By purchasing a franchise or rights to a franchise you're really buying a business plan that's already been created successfully as well as brand recognition," added Thomas.

Thomas cautioned, though, "If you think owning a franchise is a magic bullet that would be a big mistake. You still need to consider carefully location, marketing, and a host of other business decisions. It's not that simple to just say, 'hey I have a franchise so everything's done for me.."

Friedman concurred by saying, "it's not like buying a car that you can trade in if you don't like it. I think the biggest pitfall is not using both sides of your brain when your making a decision."

Above all, both concurred operating a franchise business successfully is a lot of hard work. But both also subscribe to an old saying, which goes: there are very few things in life which are worthwhile which aren't worth working for.

"I can liken this to my own son," explained Friedman. "He wants to be a baseball player but doesn't like to practice. He wants to be a great piano player but doesn't want to practice. He wants to be an "A" student, but you gotta do your homework. This is not all that different than anything else in life. It's just another stage of commitment."

The "Building Buffalo Business Through Franchise Ownership" seminar runs from 8am to 4pm Wednesday at the Buffalo Hyatt hotel. There is a $20 registration fee.
WGRZ-TV , wgrz.com

U.S. Chamber of Commerce-2009 Business Civic Leadership Center

Virtually anyone who knows me professionally knows how much I love my involvement with the IFA. Well this week, I’ve been introduced to yet another national business organization, one that has very quickly smitten me. In many ways this organization reminds me of IFA, but in other ways, it is different.

I’m talking about the U.S. Chamber of Commerce and their (BCLC) Business Civic Leadership Center. Last month I was invited to speak at their Annual Convention and now, as I post this blog from Chicago’s Miracle Mile, that conference has just concluded.

This event was attended by just 300, but a more eclectic group of assembled professionals, I have never seen. Among the roster of speakers and attendees were Mayors, C-level executives from America’s leading companies, public and private sector icons, large corporations, small businesses, legacy foundations and start-up non-profits, strategists, economists and even thinkers from academia.

Government officials in attendance represented the White House, the SBA, The Departments of State and Defense and even the USDA. Insurance, healthcare, The Federal Reserve, the media and even the National Governors Association, they were all there too. This conference was a veritable “slice of Americana.”

Similar to IFA’s role in franchising, the BCLC’s mission is to advance the positive role of business in society, but it does so in a much broader sense than IFA. As such, BCLC and the US Chamber works with these leaders from business, government, and non-governmental organizations to address and act on shared goals. Most noteworthy to me and to others that I spoke with as well, was how egos got parked at the door by everyone in attendance at this conference and how engaging and interactive everyone was.

It reminded me of how every year at the IFA Convention, first-time-attendees marvel at how caring and sharing the speakers are and how they are so openly willing to share information, even when potential competitors might be in the audience in the very same room. I got that same flavor at this conference. The difference though , was that while the spectrum here was much broader, the conference much smaller, far more intimate, making the interaction all the more powerful.

I sincerely wish to thank my friend Don Graves for connecting me with Katie Loovis, Director of Business and Society, for the Business Civic, Leadership Center. I hope that Katie, and Stephan Jordan Senior VP of the BCLC will invite me back and allow me to expand my involvement with the U.S. Chamber of Commerce. This is one fine group of professionals, working tirelessly to ensure that American businesses thrive, on Main Streets everywhere.