Yesterday the Supreme Court upheld most of the provisions of the Patient Protection and Affordable Care Act (PPACA), generally referred to as Obamacare. The franchising community, led by the International Franchise Association (IFA) in such situations with political implications, continued to voice their displeasure and fear of what such an act will do to the small business community.
Taking center stage is the provision that companies employing 50 + full-time employees, or the equivalent, will be subject to penalties if proper health care coverage is not provided to those employees. The IFA takes the stance that this simply discourages small businesses from hiring. In some cases, even encouraging companies to eliminate positions. A contradictory end result with the unemployment level being as important a barometer as it is during the economic recovery process.
According to a statement released yesterday from the IFA, and again reiterated today in their Town Hall teleconference, IFA President and CEO Steve Caldeira says more than 3.2 million jobs are at risk. When the more than 2100 attendees at the Town Hall conference were asked whether the PPACA makes them more likely to hire, 85% said “no”, clearly adding weight to Caldeira’s remarks.
What does this mean for you, the potential franchisee? Over 2100 attended today’s Town Hall teleconference wondering the same thing. There’s a lot to learn about the PPACA, and some great questions were posed to Ann Phelps, Principal at Washington Council Ernst & Young. Will franchisees of multiple concepts, with less than 50 employees in each but more than 50 in total be subject? How about seasonal businesses, where more than 50 are employed for only a few months a year? The short answer – coverage will be mandated in such situations.
But when a question was posed about how the Affordable Care Act will affect a business with less than 10 employees, Phelps seemed to indicate that the effect will be minimal. With such a strong number of franchise opportunities offering a chance to open a business with less than 50 full time employees, the reigns on your search shouldn’t be pulled back with yesterday’s ruling.
One of the most important steps before becoming a franchisee is to invest quality time into researching the industry and all the laws that effect it. You’d be surprised how many people decide to skip this step!
SIGNARAMA, one of the largest full-service sign franchises, has announced a partnership with the International Franchise Association, the Veterans of Foreign Wars, and the U.S. Chamber of Commerce to host the New Opportunities Workshop in Washington D.C. The workshop is schedule to be held at the National Press Club on June 28th at 9a.m.
The workshop will launch two new services: a Veterans Franchise Toolkit and a new Mentor Network, setup to help Veterans connect with jobs they may qualify for. Attendees should also expect to hear from SIGNARAMA president, Jim Tatem (JT) and SIGNARAMA franchisee and veteran, Robert M. “Buzz Saw” DeGroff.
“We are thrilled to be able to participate in events such as the New Opportunities Workshop in support of our veterans and military,” said Tatem. “We are committed to helping our veterans transition back into civilian life, fin career opportunities, including business ownership, and achieve success like our veteran franchisee Robert M. DeGroff has had.”
SIGNARAMA will also be participating in several job fairs in an effect to help veterans find jobs they are qualified for. These fairs include the Veteran Open Hose on June 26-28 in Detroit and the Recruit Military Veteran Job Fair on June 28th at National Park in Washington, D.C. Veterans interested in starting a SIGNARAMA can also take advantage of the company’s current initiative. Under the current initiative, veterans who qualify can receive a discount of up to 50% of the fees associated with starting the business. SIGNARAMA will also be waiving the franchise fees for one lucky veteran, a savings of almost $40,000.
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The International Franchise Expo this past weekend in New York City truly lived up to the hype. Attendees flocked to the Javitz Center, leaving the 300 or so franchisors that exhibited ecstatic about prospect of signing new franchisees in the tri-state area. I walked the floor half way through day 1 and the dozen or so franchisors that I spoke to already felt the show was worth the trip.
Here are my takeaways from the 3 day event:
1) A Recovery Is In Full Swing - the International Franchise Association (IFA) has continually pointed to the comeback the franchise industry is seeing, and certain economic indicators show that consumer confidence is heading in the right direction as well. If you needed further proof, walk the floor of the IFE Show. Thousands attended and exhibitors walked away confident the show was packed with serious buyers. Better yet, these shoppers are smarter having experienced the economic downturn.
2) Expect The Pool Of Franchise Concepts To Continue To Grow – also out in full force were budding franchisors walking the floor. This includes both those who just filed their FDD as well as those considering the move to franchise their business. This all but ensures a bigger IFE show next year.
3) No Industry Was Lacking Interest – the food concepts will always have the most crowded booths, and surely that has something to do with the free samples. (Thank you, Forever Yogurt.) But those I spoke with from concepts such as Cruise Planners, PostNet, and British Swim School were just as excited about the outlook from the show. That underscores the beauty of a trade show such as this, with its intent to be for those that want to explore business ownership but don’t know what’s out there.
4) MFV Expositions Deserves A Pat On The Back – way to go guys. The show was first rate from top to bottom, with no shortage of exposure from Time Magazine, to USA Today, to billboards in the city. The efforts paid off.
4) Franchise Gator Still Casts A Wide Net – its not often that we get in front of site visitors, but I can’t tell you how many walked by our booth, did a double take, and came over to share how useful Gator has been in their search. That never gets old.
5) Stevie Looks Great In Lights – So as I was walking to the Hard Rock Cafe in Times Square for a networking event, fascinated with the light spectacle those city blocks have to offer, you can imagine how overtaken with shock and excitement I was when I saw our mascot, Stevie Gator, in bright lights very much a part of the iconic scenery. What? You haven’t seen it? Check it out here, or on our Facebook page: www.facebook.com/FranchiseGator
6) Looking Forward To IFE 2013 – The IFE SHow will be back in NYC next June and Franchise Gator will definitely be there as well. Hope to see you there.
Whether you’re just starting to build your company’s reputation online or you’ve already established a presence, you may be wondering if social media is even worth the time. Social media has come a long way from its early days but figuring out the ROI of tweeting, posting, and sharing leaves some business owners frustrated and dumping social all together.
More and more buzz continues to be created around the International Franchise Expo this week in New York City, June 15 – 17th at the Javits Center. If you haven’t gotten your free tickets already, take advantage now and CLICK HERE FOR YOUR FREE TICKETS.
Dr. John P. Hayes of Franchise Mastermind has been teaching his course, the A to Z’s of Buying A Franchise, for the 20+ years MVF has been hosting the IFE Event. This year, however, demand for his class has led the IFE to add a 2nd session, and Dr. Hayes is extremely excited about the interest level. IFE touts this session as the “perfect symposium for people who are just getting started with their research, as well as those who are close to making a decision to buy a franchise.”
On Sunday Dr. Hayes will be teaching the free seminar How To Buy a HOT Franchise and Not Get BURNED. I reached out to Dr. Hayes to learn more.
“I created this seminar several years ago, because people were constantly asking me (and still do) “What’s the ‘hot’ franchise to buy?” and I would explain that buying a “hot” franchise is the quickest way to get burned. “Hot” doesn’t necessarily mean a substantial, long-term business. However, I noticed that most people really didn’t care about my explanation — they simply wanted a “hot” franchise. So I decided I could help them by explaining how to buy a “hot” franchise without getting burned by the franchisor or franchising itself. In a 90-min session I cover some of the topics I discuss in the A to Zs, but not with as much explanation and depth. What’s unique, I believe, is that I’m probably the only person who teaches at the IFE who has been a franchisor, a franchisee, and an advisor to the franchise community for more than 30 years.”
Visiting over 300 booths this weekend at the Javits Center can certainly be a daunting task. But make sure you set some time aside to take advantage of the classes that the IFE has to offer. A full list of sessions can be found here: IFE Sessions.
I’m currently preparing for my trip to New York City where I’ll be attending the International Franchise Expo (IFE) from June 15th – 17th. (If you’re not planning on going, what are you waiting for? Get your free tix here: FREE TICKETS.) While Franchise Gator will have a booth that I undoubtedly will spend a great deal of time at, clearing my schedule enough to attend the free seminars is a priority of mine.
If you are a prospective franchisee, the IFE show is not just an opportunity to be introduced to franchise concepts you wouldn’t otherwise come across. Its a great chance to meet with industry experts who can assist in the buying process as well as aspects of running your franchise unit. A full list of the free seminars can be found here: Free IFE Seminars.
For instance, on Friday at 3:30pm Dallas Kerley from Benetrends will be leading a session titled Financing Options for Franchising – Your Best Alternatives Today. I spoke with Dallas today to ask him what one can expect to learn.
Since the credit crisis in 2008, securing funding to start a new business, has proved challenging. This session will outline the many innovative strategies available to get you the funding you need to buy the franchise of your dreams. Topics will include SBA loans, Securities Backed Loans, as well as how to use your retirement plan to purchase a business tax differed and penalty free.
Other sessions that look like a must for the prospective franchisee include:
If you’ll be attending the show, don’t forget to stop by the Franchise Gator booth, #1118.
If you are currently considering a franchise opportunity, its time to start planning your trip to New York City next week. The International Franchise Expo (IFE) will probably go down as the largest franchise trade show ever. With over 300 booths reserved to promote franchise opportunities, there is sure to be a concept for everyone.
Why is this a can’t-miss event? MFV Expositions is responsible for the largest franchise related trade shows each year, with their staples being the West Coast Franchise Expo in California, the Franchise Expo South in Miami, and this show, the IFE. Whereas the IFE has been held in Washington DC, 2012 marks the show’s first appearance in New York City. A new venue will always increase turn out. Changing the venue to one of the biggest cities in the world results in a turn out in the 8,000 – 10,000 visitor range, according to MFV.
A quick glance at the exhibitor list (found here) shows many long time Franchise Gator customers, such as Aamco, Ace Hardware, and Wireless Zone. Industries represented cross the spectrum from food to B2B, to retail, to home-based.
Franchise Gator will also have a booth at the show. If you attend, please come by and say “hello”. We’d love to meet you and hear how your search is going.
For free tickets to the International Franchise Expo, click here and register today.