Franchising Challenges and Potential Growth
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Why Credit Access is Critical to the Economic Recovery
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An Opportunity to Be A Part of History
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Baseball’s opening day has arrived, and, as always, optimism overfloweth on opening day! This week, myself, and many others, will head to Washington, D.C. for the Small Business Lending Summit (SBLS), and we will be armed with that same sense of optimism as we strive to truly make a positive difference. Just like with opening day, the SBLS marks an opportunity for a fresh start, a chance for us to step up to the plate and swing for the fences!
If, collectively, we accomplish the objectives set forth for this event, we will: educate lenders and policymakers alike on the power of franchising, build communications bridges between each of these communities and encourage them to make credit more accessible to our organizations, thus letting us get back to what we do so well – fulfilling the American Dream and getting Americans back to work!
Let’s be honest, most of us are never going make history by hitting 73 home runs in a single season, or by taking part in turning a triple play, but we can make history in the arena where we serve. That’s exactly how I view the SBLS, a chance to (in some very small way) be a part of history. Won’t it be awesome when franchise businesses are highlighted in the footnotes of history books as being responsible for restoring economic stability in the United States?!
I am going to D.C. for my parents, two wonderful kids from Iowa who had to figure out how to make ends meet in the mid-1970’s, so they took the $17.42 they had and turned it into the construction of over 700 car washes across this great nation. More people should have the opportunity to be like Bob and Mary Black.
I am going to D.C. for my two little boys who deserve a chance to know a future where anything is possible, not a future where little is possible.
I am going to D.C. for you and me, because the people of franchising are some of the best I have ever known, and you deserve a chance to surpass all of your projections and expectations!
So, you see, it’s game time. I assure you, those of us going to D.C. to represent you, franchising, and the IFA, will do everything we can to “knock it out of the park”!! Let’s play ball!
Follow me on Twitter @superwashsusan for live updates from SBLS. Search for hashtag #SBLS.
Posted by Susan E. Black-Beth, CFE, Chief Operating Officer, Super Wash, Inc. and IFA board member
The Washington Post – Franchisees still contending with a lack of financing
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Link: The Washington Post – Franchisees still contending with a lack of financing
A dearth of available capital, despite the improving economy, is hampering franchise growth amid increased business demand, according to the International Franchise Association.
The industry trade group is part of a coalition, including the Consumer Bankers Association and commercial lender CIT Group, hosting the Small Business Lending Summit on April 7 at the Capital Hilton Hotel in the District. The event aims to bridge the disconnect through sessions highlighting the low-risk profile of franchising, best practices in loan underwriting and legislative policies that can aid small businesses.
Borrowers are having a hard time securing home equity loans, a traditional source of funding for franchisees, or putting up commercial assets as collateral in the face of depressed real estate values. Meanwhile, lenders say there is a paucity of credit-worthy applicants. Learn more…
Posted by Matt Haller, IFA Director of Communications
FOX 5 DC takes a look at this weekend’s International Franchise Expo and profiles IFA member Dogtopia, whose CEO Amy Nichols talks about starting her franchise business, which now has more than 20 locations in the U.S. and the satisfaction that comes from giving people the opportunity to own their own business using the franchise model.
Also, IFA Vice President of Membership & International Development, Scott Lehr, gives his views on the “hottest franchise” around.