IFA Convention Less Than One Month Away

As you probably read on my previous blog post regarding Franchise Expo South, I am convinced that franchising will rebound from our tough economic situation more quickly than many other market segments. Still lots of rocky road ahead, but hopefully, this prediction will be shared by others in San Diego, at the upcoming annual IFA Convention.

This is going to be a compelling year for new ideas to come to the fore, regarding the growth and development of franchised businesses. These challenging economic times make attendance at this year’s convention all the more compelling.

Start-up franchisors – IT IS ESSENTIAL FOR YOU TO ATTEND THE CONVENTION. Once you are registered, start your planning. Use the Convention as your opportunity to get focused. This conference has gotten too big to just attend without an action plan. Tailor your plan around learning during the concurrent educational sessions and networking on the floor of the tradeshow. Don’t leave anything to chance with reference to connecting with and speaking to those who can most positively impact your business. The days of just running into the right people at the IFA are gone. Anymore, the convention is just too big to go and just "hope for the best."

Established franchisors – this applies to you, too. It’s a whole new world out there and you want to maximize every opportunity to positively return your investment of time and money.

Last word in these challenging times, for ALL franchisors, regardless of size or maturity of your brands, I invite you to make yourselves rockstars to your franchisees by offering them the opportunity to glean the benefit derived from the tax credits that RetroTax administers. By telling your franchisees that “but for the fact that you’re one of our franchisees, RetroTax would quite likely never have known about you or your business... and that because of that, RetroTax will perform these services at the single unit level, something that is usually available only to much larger businesses.” Feel free to email me (stan.friedman@retrotax.com) to schedule some time to talk, either at or before the Convention. I am looking forward to making many new friends at this year’s IFA, as well as seeing all of my long-time associates from all over the world of franchising.

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?

Franchise Expo South This Weekend

This weekend I will be heading to Miami for the Franchise Expo South. South Florida in the middle of January? Who could ask for anything more? I am most looking forward to seeing my extended franchise family, representing IFA as moderator on two panels, and did I mention being in South Florida in the middle of January?

While the expo, on the surface is designed to help franchisees find the right franchisee opportunity, I, along with many of my peers, use it as a networking opportunity, as well. I always make a point of connecting with as many people as possible. For new franchisors, make sure to take notes on the back of every business card you collect, with reference to the action item associated with it – and then, of course, be sure to follow-up on those commitments on your first day back at the office.

For those of you attending, you might find interest in the two panels I am moderating: Opportunities in Franchising for Minorities and Women, part one at 11 a.m. – 12:30 p.m. Saturday, January 1, followed by part two from 1 p.m. – 2:30 p.m. in room C221. I will be moderating this session with the help of John R. Reynolds , President, International Franchise Association’s Education Foundation; LaShawn Cartwright, Sr. Recruitment Consultant, Chick-fil-A; Alberto Eyzaguirre, Operator, Chick-fil-A; Russell Phillips, Market Development Manager, ServiceMaster Clean; Jesus Martinez, Franchisee, ServiceMaster Clean; Jose A. Negroni, Lender Relations, Small Business Administration -- Miami District Office.

In an increasingly competitive marketplace for franchise candidates, savvy franchise systems are aggressively seeking qualified entrepreneurs from both the minority and women’s communities to represent their brands. This seminar will help you understand: Pitfalls to avoid; Financing options; How to overcome stereotypes; Mastering the franchisor/franchisee relationship; Specific ethnic markets; Non-traditional franchising opportunities; Legal considerations: Who owns what? Who is responsible for what?; and how to learn what questions to ask yourself first: Am I really cut out for this? How long do I plan to do this? How long can I live without an income? Gain insight into where the opportunities lie.

I look forward to seeing you there.