Multi-Unit Franchisee Magazine Issue III, 2014 | Page 70

sociates called How to Attract Multi-Unit Franchisees to Your Brand. The four panelists—Todd Evans (after years at Aaron’s, now VP of franchising at Rent A Wheel/ Rent A Tire), Scott Iverson (VP of marketing at Toppers Pizza), Brian Sommers (VP of franchise development at Jersey Mike’s), and Jim Sullivan (SVP of franchise development at CKE Restaurants, aka Hardee’s and Carl’s Jr.)— shared what they’ve learned and the strategies they’ve used to find qualified multi-unit operators for their systems. Following lunch, the afternoon was divided into three groups of educational breakout sessions: Growing to 20 Units, Growing from 20 to 30 Units, and Growing Beyond 50 Units. Session topics included Going from Grandma’s Pocketbook to Lender Financing; Management to Leadership; The Right Capital Plans for Growth; Making the Commitment to Grow; Executing The Vision; and People—A Critical Element of Growth. Moderators kept the packed sessions focused and moving, with plenty of time for audience participation and questions. Expo-mentum With the day’s sessions completed, attention turned to the opening cocktail reception in the Expo Hall—the place to meet and greet. This year saw a record number of exhibitors, and floor space sold out faster than at any previous MUFC. Service providers, technology companies, and other vendors, along with dozens of franchise brands, were on hand to rub elbows with franchisees, tell their stories, and answer questions. The Expo Hall opened for business twice more during the conference, dur- 68 MULTI-UNIT FRANCHISEE IS S UE III, 2014 Charles Smithgall III, Mike Kulp, Roland Spongberg ing the Thursday lunch hour and again on Thursday evening. It continues to be a focal point for networking and a cornerstone of the conference, the place where conversations get started and deals take root. State of the economy Thursday began with a continental breakfast and an informal business solutions roundtable session that provided opportunity for plenty of interaction covering a wide variety of topics. Chairman Hashim then welcomed everyone back to the general session before introducing the annual “State of Franchising” address from Frandata President Darrell Johnson. Looking at the overall economy, Johnson said most of the economic news is “fairly positive,” but he predicts continuing modest GDP growth of 2.5 percent for the next 2 years or more (compared with 3 percent in the past). The good news for business owners, he said, is that “at least it’s fairly predictable.” Johnson also discussed the meaning for franchisees of strengthening capital markets and the ongoing demographic shift from Baby Boomers to Millennials. He said Boomers are retracting from discretionary spending, no longer carrying the economy as they begin to retire. And with Millennials preferring urban over suburban living, they’re not buying cars and homes, which means fewer big-ticket purchases. (However, they do love going out to eat with friends.) One negative consequence for franchisees of the move back to America’s cities is that commercial rents for Class A space are rising four times as fast as rents in the suburbs. “Million dollar” keynote JB Bernstein, a sports agent and marketing pioneer who was the inspiration for the recent Disney film “Million Dollar Arm” (starring Jon Hamm as Bernstein), proved a touching and inspiring keynote speaker, and a testament to the power of believing in your dreams. Bernstein, a 25-year-veteran of the rough-and-tumble consumer goods and sports marketing business knows what it takes to succeed—and the many obstacles standing in the way. He said his major