We asked two franchisors if they’re seeing signs of economic recovery – and how what they see is affecting their plans for recruiting new franchisees in 2010. One is in the rapidly growing healthcare services field, the other in the highly competitive pizza sector. See if any of their perceptions or programs can help your plans for growth in the coming year!
Shelly Sun,
co-founder and CEO,
BrightStar Franchising
We are seeing positive signs of economic recovery, which is helping to mitigate the fear candidates have. We are planning for increased growth in 2010 based upon strong unit performance, the growth of our industry, and solid validation. We are leveraging Process Peak’s virtual brochure and pipeline catalyst to drive an interactive process and the ability to evaluate all metrics during the sales process to optimize results and selection. We are focused on selecting the best franchisees — franchisees who have the right experience and are compassionate and well-capitalized.The biggest challenge we see in 2010 in meeting our goals is access to capital. We are focusing on franchisees who have a 401(k) they can use. SBA loans continue to be slow to process, and most banks are not really writing them because of the cap on fees and low interest rates. As an organization, we are spending time in Washington, D.C., lobbying our politicians to improve access to capital because that is the single biggest issue holding back economic recovery, existing franchisee expansion, and new franchise sales.