FRAnCHISE FRENZY

three top U.S. expos bring franchisors and potential franchisees together under one big roof.

Savvy entrepreneurs know very well that a successful incursion into a new type of business must always be preceded by an exhaustive, lengthy analysis of every aspect of the business or industry.
Franchising in no different. Both current franchisees seeking a new venture and prospective first-timers need to get as much information about the new business as possible.
The good news is that although the franchised business model is used in more than 100 countries around the world, the U.S. is the birthplace and the quintessential land of franchising, with an estimated one of every 12 retail businesses belonging to a franchised network, and over 8 million people employed.
There is no substitute to meeting in person with franchise representatives and other franchisees to get a good feel of what an endeavor under consideration might bring. The best place to meet your peers in the franchising industry is to go to some of the many franchising conventions and conferences held around the country all year round.
To get started, here are a few of the most high-profile events in 2008.
Franchise Expo South
January 11-13
Miami Beach Convention Center
Drawing on the markets in Florida, the Caribbean and Central/South America, FES is of great significance to the Hispanic market. The 2008 FES will feature a variety of seminars and symposia, from basic how-to sessions to advanced in-depth examinations of the different franchise relationships and how they affect potential franchisees and franchisors. There is an entire track dedicated to three-party franchising, as well as a track for current franchisors. Along with a comprehensive conference program, FES brings together the leading concepts in franchising and the Southeast’s most qualified audience.
www.franchiseexposouth.com

International Franchise Expo
April 11-13
Washington, D.C.
The franchise industry’s premier annual event offers a great opportunity to explore hundreds of the franchise industry’s hottest concepts. This event brings together thousands of the most qualified prospects from across the United States and over 80 countries around the world. The expo, sponsored by the International Franchise Association and endorsed by the U.S. Department of Commerce, offers one of the industry’s most comprehensive conference programs. Free seminars in 2008 include franchising basics, costly mistakes, financing, and choosing the right franchise. For a fee, the convention offers symposia on franchising your business, global expansion and marketing strategies.
www.ifeinfo.com

West Coast Franchise Expo
November 7-9
Los Angeles Convention Center
The WCFE serves the states from the rapidly growing West Coast market. The event, sponsored by IFA, provides the perfect opportunity for hundreds of franchise organizations representing every industry and virtually every investment level to meet face-to-face with the region’s most highly motivated prospective potential franchisees. For a separate fee, 2008 attendees can enroll in symposia featuring lectures on technology, buying and operating franchises.
www.wcfexpo.com

The franchised business model

The McDonald’s and KFCs of the world became the business empires they are today by adopting a business model launched, surprisingly, by a woman named Martha Harper more than a century ago. Harper used her savings from years of domestic service to open a very successful hair salon in Rochester, New Jersey. When demand for her products grew, she launched the first franchised business in 1891, not knowing that 30 years later her concept would grow to more than 500 shops worldwide.

Today

• More than 760,000 franchised businesses generate a total economic output of more than $1.53 trillion, or nearby 10 percent of the U.S. private-sector economy.
• Franchised businesses generate jobs for more than 18 million Americans and employ nearly 10 million people directly.
• The average initial franchise investment is $250,000, excluding real estate.
•The top franchise industry is fast food, and the largest franchise company is McDonald’s.