As the 2011 IFA annual convention comes to a close, it’s clear that there are two topics that are the main focus of the franchise world:
- Concerns about access to credit & funding
While walking the exhibitor floor and attending the educational sessions, it was easy to see that everyone believes that 2011 will be a growth year, and that the franchise industry is going to be a major factor in economic recovery moving forward. Whether you spoke to executives from franchisors, to franchisees, to suppliers, it was evident that everyone understood that the next few years would continue to be difficult, but that it was a journey that everyone was willing to make together.
With that being said, it was still a major issue that banks simply weren’t lending money, and that many other lenders were no longer available. Nearly everyone we spoke with has needed to change the way they do business in the past two years, but these were changes that are creating more efficient organizations.
Over the next few days, Direct Capital will update this blog with re-caps of various sessions, including:
- Transitioning from Single-Unit to Multi-Unit Ownership
- Best Practices in Dealing with a System Modernization
- Best Practices for Obtaining Franchise Financing
- Increasing Franchisee Profitability
Stay-tuned, as we wish to make sure that all this great information gets out to all franchisees.