Franchise leaders discuss credit, social networking during Dallas roundtable.The stormy storm·y
adj. storm·i·er, storm·i·est
1. Subject to, characterized by, or affected by storms; tempestuous.
2. skies in Dallas May 14 did not damper damp·er
1. One that deadens, restrains, or depresses: Rain put a damper on our picnic plans.
2. An adjustable plate, as in the flue of a furnace or stove, for controlling the draft. the enthusiasm of the franchise leaders who attended the latest in the series of CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Roundtables being hosted by the International Franchise Association. Seventeen area franchise leaders braved the spring storms to gather at the Jani-King International, Inc. headquarters to listen, learn and share best practices during these challenging economic times.
Despite the recession, many franchise companies are finding success during the recession, but many are facing slower sales and financing difficulties similar to many leaders across the country. IFA Immunofluorescent assay (IFA)
A blood test sometimes used to confirm ELISA results instead of using the Western blotting. In an IFA test, HIV antigen is mixed with a fluorescent compound and then with a sample of the patient's blood. launched the listening tour in April to hear from its members how the association could enhance efforts to support the industry during the recession. Sessions have been conducted in Philadelphia, Denver, Orange Co., Calif. and Chicago and others are planned for Atlanta, and Minneapolis. Each session is hosted and moderated by members of the IFA leadership.
"These events are designed to hear firsthand first·hand
Received from the original source: firsthand information.
first how members are faring during the recession and how IFA can further support their efforts," said IFA Chairwoman Dina Dwyer-Owens, CFE CFE Conventional Forces in Europe (treaty)
CFE Cash Flow to Equity (finance/accounting)
CFE Comisión Federal de Electricidad (México)
CFE Certified Fraud Examiner , who leads the Dwyer Group's multiple franchises and moderator moderator - A person, or small group of people, who manages a moderated mailing list or Usenet newsgroup. Moderators are responsible for determining which email submissions are passed on to the list or newsgroup. of the Dallas event. "The interaction and networking has been invaluable as our industry addresses the many challenges facing our economy."
Jani-King International, Inc. Pres. Jerry Crawford Gerald Joseph Crawford (born August 13 1947 in Philadelphia, Pennsylvania) is an umpire for Major League Baseball. He first umpired in the National League in 1977, and since 2000 has worked in both major leagues. He has been a crew chief since 1998. , CFE, who hosted the group, said that bringing together local franchise business leaders in cities around the country strengthens all businesses by sharing best practices both in good times and in bad.
"Franchise businesses account for 1.6 million jobs in Texas and provide $176 million in economic output," Crawford said. "By gathering at sessions such as the CEO Roundtables, we can help strengthen the economic output and work together to address issues impacting our collective businesses."
Responding to the Credit Crisis
As with other roundtable discussions, the primary concern among Dallas attendees was the ongoing impact of the credit crisis. IFA staff presented the highlights of a recent association credit lending report, which shows that for every $1 million of lending obtained by franchise small businesses, 34 jobs are created and $3.6 million in annual economic output is realized.
The study, Small Business Lending Matrix and Analysis, prepared by FRANdata Corp. for the IFA Educational Foundation, shows the relationship between lending to the franchising industry and the industry's capacity to develop new businesses and expand existing businesses. Because of current conditions, the study predicts a 40 percent reduction in franchise lending in 2009. This reduction will result in the loss of nearly 50,000 jobs and over $5 billion in economic activity.
tr.v. frus·trat·ed, frus·trat·ing, frus·trates
a. To prevent from accomplishing a purpose or fulfilling a desire; thwart: by the lack of financing available for new franchise sales and the threat of lines of credit diminishing, the attendees outlined how they are focusing on basic unit economics to help existing franchisees and identified actions that could be taken to help free capital for expansions. For instance, the group supported the idea that if the U.S. Small Business Administration increased the prime rate, loans may be more accessible.
"The IFA Economic Recovery Plan has identified many ways to help break the logjam log·jam
1. An immovable mass of floating logs crowded together.
2. A deadlock, as in negotiations; an impasse.
Noun 1. we are seeing in the credit market," said Dwyer Owens. "We have specifically identified ways to improve the Small Business Administration's loan program so that more capital will be available. We have presented these ideas to Congress and the administration and we are hopeful we will see action very soon."
IFA's Economic Recovery Plan for improvement in the SBA SBA
Small Business Administration
Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government to help loosen credit includes increasing the SBA 7 (a) maximum loan limit from $2 million to $3 million and the maximum loan guarantee from $1.5 million to $2.7 million so that the small businesses that can create the most jobs can participate in the program; allowing pricing of SBA loans to be competitive with other forms of capital investment; (current SBA rate caps do not reflect real-world credit risk spreads and discourage bank lending); reversing the new SBA policy on "goodwill" financing of business acquisitions; and promoting reasonable audit standards so that banks have certainty that loan guarantees will be honored.
Dwyer-Owens said that IFA members could help get these messages to Congress by calling their representatives and senators and urge them to do more. "If we can leverage the franchising industry's strength in numbers in numbered parts; as, a book published in numbers.
See also: Number , we can make a real difference during these challenging times."
Social Networking See social networking site.
social networking - social network
The Dallas attendees also discussed the use of social media which is quickly becoming an important marketing tool. Many franchise leaders are keeping costs down by utilizing more social-networking sites to reach targeted audiences about their businesses.
Many are using the popular sites Twitter A Web site and service that lets users send short text messages from their cellphones to a group of friends. Launched in 2006, Twitter (www.twitter.com) was designed for people to broadcast their current activities and thoughts. .com, LinkedIn.com and Facebook.com to share information and update interested parties on their businesses. For instance, Jan Van Blarcum, founder and CEO of Creative Tutors 4 Kids International in Piano, is targeting former teachers, education experts and even mothers through Twitter and Facebook, creating original cartoon characters to be the company's face on these networks. Cynthia Gartman, CFE, of Country Place Living, LLC (Logical Link Control) See "LANs" under data link protocol.
LLC - Logical Link Control is also using social networks and has leveraged contacts made through the networks to sell franchises.
While many franchise businesses are only beginning to adopt these new communication channels, the roundtable provided an opportunity to demonstrate the diversity and scope of these new marketing tools.
Roundtable "Take Aways"
* Target small community banks and credit unions as alternative lenders.
* Search for non-traditional sources of financing such as business loans and grants from the U.S. Department of Agriculture Rural Development program.
* Find ways to develop personal relationships with bankers to familiarize them with your business model and enable them to be better able to make judgments when adjustments may be considered.
* Communicate aggressively with your franchisees. It's back to basics during these challenging times.
* Consider using blogs to get your message out to potential investors and help educate the public about your company and business approach.
* If you using social-networking sites, put the address on your business cards and e-mail signatures to increase your reach.
* Get involved politically. Get to know your local representatives so they will better understand how laws affect your business. Supporting information is available at www.franchise.org for tools to use in contacting members of Congress.
Dina Dwyer Owens, CFE
Chairwoman & CEO
The Dwyer Group
Jerry Crawford, CFE
Jani-King International, Inc.
President & CEO
Adventure Kids Playcare
Michael Brown Michael or Mike Brown may refer to:
Chief Executive Officer
Children's Lighthouse lighthouse, towerlike structure erected to give guidance and warning to ships and aircraft by either visible or radioelectrical means. Lighthouses were long built to conform in structure to their geographical location. Until the beginning of the 19th cent.
President and CEO
Cynthia Gartman, CFE
President & COO (Cell Of Origin) See mobile positioning.
Country Place Living, LLC
Jan Van Blarcum
Founder & CEO
Creative Tutors 4 Kids
Susan Last, CFE
Vice President of Communications & Marketing
International Franchise Association
Involving, existing between, or connecting two or more states.
One of a system of highways extending between the major cities of the 48 contiguous United States.
Noun 1. Battery
Franchising & Development, Inc.
Steve Berkmen, CFE
President of Franchising
Founder & CEO
John Carney car·ney
Variant of carny.
Alisa Harrison is vice president, communications and marketing far the International Franchise Association. She can be reached at 202-662-0775 or firstname.lastname@example.org.