Key takeaways from the lending summit focus on collaboration, communication between banks, franchise businesses

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At IFA’s Small Business Lending Summit last week, franchisors raved about the process of franchising and the importance of building solid relationships with franchisees to help them achieve entrepreneurial success. “I get jazzed by the franchising concept where people put their own money at risk,” said Nigel Travis, president and CEO of Dunkin’ Brands, who also discussed the importance of ongoing training and a brutal franchisee selection process. Relive some of the key moments in the slideshow below. 

Posted by Matt Haller, IFA Director of Communications

What is the Senate Doing Exactly?

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For those folks in the franchise world checking the news at night, you might see that the Senate is currently plodding its way through a small business reauthorization bill

The SBIR Reauthorization would help small businesses gain better access to federal contracting opportunities and new technology contract awards through agencies like the Department of Defense. 

While the SBIR Reauthorization would not benefit all franchise businesses, it certainly assists those entrepreneurs seeking to compete on a level-playing field with large corporations. 

One item IFA is tracking and supporting a bipartisan amendment offered by Sen. Mike Johanns (R-NE) and Sen. Joe Manchin (D-WV) to include the House-passed 1099 repeal legislation. 

If their amendment receives a vote on the Senate floor, it is unlikely that the SBIR Reauthorization package would be the vehicle to get 1099 repeal to President Obama’s desk… but I would never say never. 

The more likely path for 1099 repeal is for an agreement to be reached among Senators on the House-passed bill, H.R. 4, that gets it to the White House. 

The long and winding road for the elimination of the expanded 1099 reporting requirements continues… stay tuned.

Posted by Jason Straczewski, IFA Senior Director, Government Relations & Public Policy

5 Things to Know Before Franchising – and the Top 5 Franchises to Buy

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Link: 5 Things to Know Before Franchising – and the Top 5 Franchises to Buy

Here’s a great piece by the folks over at MoneyTalksNews about franchising with an outstanding video perspective from one of Domino’s Pizza’s multi-unit franchisees about what to know before you get involved in franchising.

One of the most important things, according to Zebib (the Domino’s franchisee), “you have to know what you’re getting into. Many successful franchisees like Zebib survive because they come from within the company and work their way up the ladder. If you don’t know how the company operates from the bottom up, do some serious research before investing.”

Posted by Matt Haller, IFA Director of Communications

Examiner.com: "The International Franchise Association (IFA) website should be a first stop for individuals considering purchasing a franchise"

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Link: Examiner.com: “The International Franchise Association (IFA) website should be a first stop for individuals considering purchasing a franchise”

Franchising has led many entrepreneurs down the path of successful long-term small-business ownership. However, successful franchisees tell potential new franchise owners the most important thing to do when considering buying into a franchise system is to do an extensive amount of research, starting with visiting the IFA’s web site

As Shelton Rhodes’ article on Examiner.com notes, the IFA has two great resources for potential franchise owners to read in order to familiarize themselves with the basics of franchising:

By doing your homework and working hard to follow a proven system after joining a franchise system, you could be one of the successful owners of one of the more than 825,000 franchise businesses across 300 business lines currently operating in the U.S. 

Posted by Matt Haller, IFA Director of Communications