February 18, 2011

Goffstown, New Hampshire

What I Learned at the IFA Convention

Having just returned from the International Franchise Association's Annual Conference in Las Vegas, I'm still playing catch-up on phone calls, emails, bookkeeping and the 2011 Franchise Document preparations.  Still, I thought it was a good time to share a little of what I learned...

1.  The IFA is BIG.  There are some real heavy-hitters in this group.  Met a lot of franchise owners/developers with 200, 300, 500, 1,000 units or more.  Subway is on track for 34,000 units.  Wow.
2.  As big as the IFA is, it's actually a small world, too.  Beginning to meet some great people and forging new friendships.
3.  Entrepreneur throws the best party.  Thanks to Mike Ginty for getting me an invitation and thanks to all the nice folks at Entrepreneur Magazine for hosting an awesome shindig at Stoney's.  I did not attempt the mechanical bull. 
4.  There are way too many companies claiming to have Google figured out and trying to manage our pay per click program.  I found sorting through these particular vendors a bit overwhelming.
5.  There's a cost to acquiring new customers.  
6.  New technologies and concepts are rapidly evolving.  Some companies have already switched direction since I first met them just 10 months ago.
7.  Social Media and Franchising.  Ugh.  I think there's so much emphasis on this that other important aspects of running one's business can be hurt.  Just my opinion.
8.  Quite a few franchise systems have shrunk in the last few years.  We are fortunate to have grown.
9.  Franchise systems need to have a separate website from their core business.  Ours was already in the works and I just posted it to the web yesterday.
10.Vegas is Vegas.

Thanks for reading,

Jack