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January/February 2009 News
National Insulation Contractor’s Exchange, San Juan, Puerto Rico
January 13, 2009
The Landscape is Changing Beneath Your Feet
Construction contractors are often the first to wear the impact of recession and many experienced challenges as early as 2006. Still, certain events of fall 2008 changed the business landscape profoundly with tightening credit, changing consumer attitudes and anticipated changes in the focus of a new Federal administration. To help develop workable strategies, Barb facilitated a brainstorming session where NICE members identified issues and solutions for dealing with the changing economic landscape, emphasizing the opportunities for developing a green market niche. As a result of the meeting, members shared solutions and also articulated their needs and challenges in a way that has helped to prioritize NICE member services and initiatives for 2009.
Profit Soup public seminar, Seattle, Washington
February 10, 2009
Fight Against the Profit Pinch
Twenty local business people attended this public session, including independent entrepreneurs, franchisees, consultants and community business development leaders. Here’s what participants had to say about the session:
“Today was AWESOME. You have us ready to figure out our “magic number.” It’s on the top of our priority list for tomorrow morning.”
- Kelly Cavenah, Home Instead Senior Care, Seattle
“This presentation is both understandable and useable for today’s strained business owners. I found myself renewed by it and ready to go back to reanalyze and expand my operations procedures and teachings!”
-Arnie Williams, former VP of Franchise Development, WIN Home Inspection Network, Seattle
“It was great to be able to take a step back and see how to analyze big decisions (like hires and so forth) mathematically. I appreciate all the work you put into making it a relevant and helpful event for all who attended. I was able to make some great contacts as well.”
- Rebecca Bomann, CEO and Founder, SASH, Seattle
International Franchise Association’s Annual Meeting, San Diego, California
February 15-17, 2009
Panel Discussion: Focusing on Franchisee Financial Fitness
Moderator: Tom Buckley, CFO, The Dwyer Group
Panellists: Barbara Carper, CPA, Profit Soup; Dan Kirwan, CPA, Maids International; Richard Simtob, Wireless Toyz
How can you help franchisees improve profit, cash and business value? What resources do they need from their franchisor and business advisors? Panellists shared tips and techniques focusing on the importance of training and leadership, benchmarking system-wide financial performance, budgeting, goal setting and delivering impactful support and coaching.
Panel Discussion: Financial Ratios – Metrics for Franchisors
Moderator: Jay Duke, Assurance Partner, BDO Seidman
Panellists: Kate Groom, Profit Soup; Gail Johnson, CFE, President, Rainbow Station; Don Marks, CEO, System Forward America, Inc (Pop-A-Lock)
How do KPIs for franchisors differ and which operating metrics create value? How do they change within the business life cycle of the franchise? What tools are needed and what industry statistics are available? Kate shared her expertise on these issues as well as FDD disclosure topics at the session.
Business Roundtable Discussion: Strategies for Success in Difficult Economic Times
Facilitated by Barbara Carper, CPA, Profit Soup and Andrew Beckman, President, Location3 Media
Franchise community leaders shared their optimism as well as their insights on marketing strategies and cost control opportunities that continue to yield significant benefit in today’s business environment.
Business Roundtable Discussion: Earnings Claims
Facilitated by Kate Groom, Profit Soup and Joseph Dunn, Fisher Zucker, LLC
Franchisors debate the merits of making financial performance representations in their Franchise Disclosure Documents. At this session franchisors discussed the benefits of making financial representations (formerly described as item 19 earnings claims) and how to go about collecting and compiling information suitable to disclose.