Brooklyn, NY: With many franchises in over 75 industries proving to be “recession resistant,” the New American Chamber of Commerce (NACC) has aptly decided to focus on franchising opportunities in its 3rd Annual Franchise Business Conference & Trade Expo, to be held on Saturday, March 28, 2009 from 9 a.m. to 6 p.m. at the Brooklyn Marriott, 33 Adams Street, Brooklyn, New York.
The NACC conference and expo puts the spotlight on franchising through educational seminars, presentations by business leaders and elected officials, and networking opportunities with top international franchisers and traders – all packed into a day of solid empowerment activities.
The feature address at the conference would be delivered by Congressman Edolphus Towns. Dr. Roy Hastick, the Founder and C.E.O. of the Caribbean American Chamber of Commerce & Industry, Inc., is also expected to address attendees of the event. Community leader Gerry Hopkins will preside as master of ceremony.
According to Tom Scada, a top franchising consultant, franchises are low start-up-cost service based businesses that are not only “recession resistant,” but also quite successful considering that “95% of all franchise units stay in business more than 5 years, which is about four years longer than a typical mom and pop start-up.”A franchise is a right granted to an individual or group to market a company’s goods or services within a certain territory or location. Some examples of today’s popular franchises are McDonald’s, Subway, Domino’s Pizza, and UPS.
An individual who obtains and runs a franchise is called a “franchisee.” The franchisee purchases a franchise from the “franchisor.” The franchisee must follow certain rules and guidelines already established by the franchisor. Also, in most cases the franchisee pays an ongoing franchise royalty fee, as well as an up-front, one-time franchise fee to the franchisor.
According to reports, a principal benefit of small franchise operations is that they create local jobs. In fact, in 2007 franchises generated 11 million jobs with an annual payroll of 278.6 billion dollars, based on results of a study of the International franchise Association.
And why are franchises so successful even in economic hard times? “Because the systems are in place…the training is extensive and on-going…the market plan is tried and true… [and] the mentoring, coaching and support is never-ending,” one expert explains.
Attendees of this conference can expect to find out what it really means for “business owners to be in business for themselves but not by themselves,” emphasizes Marilyn Silverman, NACC’s Assistant VP and co-host of The Franchise Hour radio show.
Prospective entrepreneurs, established business owners and all others interested in attending this conference may contact the NACC organizers at 718-722-9217 or visit their website at www.mynacc.org.
By Gerry Hopkins, JD (hopkinsgerry@gmail.com)
