Our franchise development and leadership team recently returned from the annual IFA (International Franchising Association) conference for 2013! While we were there, we connected with several franchisors and industry-leading experts, as well as reconnected with old friends. Some of our biggest takeaways from this year’s conference were macro trends to be aware of in 2013 concerning franchising. From access to capital, ObamaCare, to corporate downsizing, there are several trends to watch.
• Access to Capital: While Washington continues to try to get out of its own way and allow small business to remain the “engine” of the American economy, we are seeing some easing on lending. More and more banks are approving funds for new franchise growth and expansions for existing franchise owners. FirstLight has relationships with SBA, non-SBA, retirement rollover lenders and more.
• Affordable Care Act (ObamaCare): The overall impact on franchise systems and franchisees having to pay health benefits for employees will have a major impact on the franchising world. There are several guidelines and rules to the new Affordable Care Act. If you have any questions or confusion regarding your employees’ health coverage check out the IFA website’s “Making Sense of Health Care” page—and special kudos to the team at Hylant Insurance for doing such great work to build this site content.
• Continuing Downsizing of Corporate America: The downsizing of corporate America continues each year, but it seems with always a different industry. People are being laid off and taking early retirement before they are ready or willing. Because of this, early retirees and laid off workers are seeking their second career and looking for low-risk investment opportunities like franchising. This is providing vast growth opportunities for franchise systems in a number of industries.
To find out more franchising trends for 2013, visit the IFA website. For information on franchising opportunities we have available at FirstLight Home Care please visit our franchise page, download a franchising information kit, or give us a call toll free at 866.985.4031.