| From the Editor’s Desk
| Contributors
Charged with Leadership
Franchise execs rise to ever-new challenges
In some respects it was the week that the real economic roller coaster
ride began.
Franchise executives from across the country were gathered in Chicago
for the Franchise Update Leadership & Development Conference in late
September when word of the U.S. government’s $700 billion-plus “bailout”
package first came across the ticker. The breaking news was on everyone’s lips
and minds. “Where was the economy headed? What would fail next? Will this
affect access to capital?” were just a few of the questions they were asking.
But even in the face of this economic crisis, I was struck by the realization
that these executives—as diverse and unique as a group of people could be—
were united by a common goal. Amidst the emerging dismal news, they were
seeking information, knowledge, and a strategic edge over their competition.
The very reason they were gathered in these hotel meeting rooms in Chicago
was that they were leaders… and they wanted to be even better leaders. And
that idea of leadership is really the essence of Franchise Update’s Leadership
& Development Conference each fall.
As I looked at the faces in the meetings, I wondered about their professional lives… “What awaits that executive upon her return to the office? A
meeting with the sales team? The need to hire or maybe fire someone? A review
of the marketing budget?” Now, each of them would also have to deal with a
wounded and staggering economy and the myriad effects it could have.
Then I wondered about their personal lives… “What have they left behind
at home to come to this conference? A son’s ballgame? A daughter’s recital?”
As CEOs, as presidents, and as sales managers, franchise executives have a
tall order to fill—even during the best of economic times. They are charged
with building a successful franchise system. They are charged with being
leaders. They must assemble all of the pieces to effect a growing and thriving
franchise system. This includes building a top sales team, looking for franchise prospects in all the right places, and bringing those candidates successfully into the system. With a changing market and a wheezing, sputtering
economy—not to mention tightening credit markets—it’s one tough time to
be in charge. And it requires temperate leadership.
As the conference progressed, I watched more than 300 franchise executives over the course of three days. They were listening, taking notes, returning phone calls and emails, and networking, but most of all they were
committed to their role as leaders. It was in discussions everywhere you
turned. From keynote speakers to session facilitators and panelists, franchise
leaders were eagerly searching for those precious nuggets that make the entire
trip worthwhile. Those nuggets were even more important in light of the unprecedented economic news that exploded that week.
In this issue you’ll find a full review of the conference and the various
events that took place in Chicago. But that’s only part of the story. For me, it
was another reminder that the franchise industry model is one that works,
that succeeds, that grows, and one that adapts and overcomes adversity. And
it’s the foresight of this industry’s leaders, the ones who are charged with leadership, that helps makes franchising a thriving and exciting place to be, perhaps even more so in turbulent times.
49
Darrell Johnson
is president of FRANdata, an independent
research company
that has been supplying information and
analysis for the franchising sector since
1989. He can be reached at 703-740-4700
or djohnson@frandata.com.
51
Marvin Storm
is managing director of
Blackstone Hathaway,
which specializes in
using area representatives as a franchise
growth strategy. He can be reached at
925-376-2900 x201 or
mstorm@blackstonehathaway.com.
53
Rupert Barkoff
is a partner in Kilpatrick Stockton LLP’s
Atlanta office, and is
Chair of the Firm’s
Franchise Practice
Team. He is also a Past Chair of the American Bar Association’s Forum on Franchising, and Editor-in-Chief of Fundamentals of
Franchising.
—Kerry Pipes
55
Randy Cox
worked at Wal-Mart
for 12 years in operations and recruiting.
He is senior vice president of YSN Interactive, the first global marketplace that connects young, ambitious people in more
than 100 countries with opportunities to
launch their careers. If you are interested
in new, innovative, dynamic ways to reach
this generation, contact him at
randyc@ysn.com.
