2016 MULTI-UNIT FRANCHISING CONFERENCE
That evening , a cocktail reception in the Exhibit Hall provided attendees one last chance to meet with brands , vendors , and to move deals to the next level .
Kelly , partner and managing director of North Point Advisors , a financial advisory firm . The panel touched on what criteria they use to evaluate a new brand ; the importance of starting with a strategy ( not a brand ) in mind ; the importance of timing in both the marketplace and within one ’ s own portfolio ; the pros and cons of going with an established brand or an emerging one ; and once the decision is made , how to finance the new growth .
Lunch in the Exhibit Hall followed , after which franchisees had another crack at one-on-one meetings in The Money Room , while concurrent breakout sessions fired back up . Sessions included “ Mergers & Acquisitions : Buying a Business ”; “ Labor Environment : NLRB , Minimum Wage ”; “ Mobile & Loyalty Marketing ”; and “ Professional Athletes in Franchising : Tapping Into a New Source of Capital and Brand Expansion .”
Day 3 : Advice from the top The event wrapped with Friday morning ’ s closing session , “ Open Forum with Successful Multi-Unit Franchisees ,” in which successful multi-unit franchisees told the stories of their own journey , with lessons aplenty based on what they encountered along the way and what they ’ d recommend to others seeking to build up their own organizations . Mara Fortin , the first franchisee of Nothing Bundt Cakes who now operates seven bakeries , led a panel that included Greg Cutchall , a multi-brand franchisee based in Omaha , who last year became a franchisor ( Lolo ’ s Chicken ); Cheryl Robinson , who with her husband Joey , operates 37 Supercuts salons ; Tony Lutfi , with eight brands , who began with food brands and has added Sears stores ; and John Hotchkiss , who operates 42 Little Caesars and 3 Firehouse Subs .
Each described their life in franchising , how they started , and how some things had gone as planned while many others went in completely different directions — for better and for worse . Their stories were surprisingly frank about mistakes they ’ d made and the lessons they ’ d learned , and all were generous with advice for aspiring , growth-minded attendees . It was an enlightening conversation and the perfect way to send everyone home to their own franchise businesses , reenergized and ready to apply the lessons and inspiration they ’ d soaked in over the past few days .
“ This is my second year attending this conference and I would not miss it ,” said Allan Boomer , a Retro Fitness franchisee and managing partner of investment firm Momentum Advisors . “ Every year I mark my calendar , and I ’ ll certainly be here next year .”
Jim Hannan , vice president of operations at Schostak Family Restaurants , an Applebee ’ s , Del Taco , and MOD Pizza franchisee , said , “ I really liked all the presenters and panels I ’ ve been to and the networking I ’ ve been able to do in the Exhibit Hall .”
For more information on the conference , photos ( you might be in one ), or to learn about next year ’ s event , visit multiunitfranchisingconference . com . n
76 Franchiseupdate ISSUE III , 2016