PRspectives BLOG

NIFA Q3 Recap: IFA Strategy Update

NIFA Q3 Recap: IFA Strategy Update

Never in its history has the franchise industry been more engaged and more vocal about the issues facing our nation.

NIFA sat down virtually with IFA President and CEO Matthew Haller for its Q3 gathering to discuss current IFA initiatives and provide a window into what’s happening in the political sphere. It was an educational event ending with a town-hall Q&A, where franchisees and suppliers had the chance to ask Haller their top-of-mind questions.

Haller discussed the massive shift in political agendas, as franchising remains in the crosshairs on several fronts including, labor, tax proposals, and other small business issues. Just this week, the House Ways and Means Committee released the first draft of tax provisions included in the Build Back Better Act, a $3.5 trillion spending package. The IFA continues to monitor how pending legislation like this directly impacts the franchise realm.

In continuing their mission of P.E.P.—protect, enhance and promote franchising—all IFA priorities relate to one or more of these pillars. The IFA will debut their 2021 Franchise Census, a first-of-its-kind survey to share the true story of the franchise business model and ownership.

With over 3,000 franchise owners surveyed, the census came to five conclusions:

  1. Franchises are more diverse than most people recognize
  2. Franchises offer better pay, more opportunity than other small businesses
  3. Franchising is an entrepreneurial engine for growth and jobs
  4. Franchising expands opportunities for women and people of color
  5. Franchises are good neighbors

This data serves as the kickoff to the Open For Opportunity campaign that will highlight the faces of franchising that are as diverse as our businesses. By providing meaningful jobs and resources that equitably uplift our families and neighbors, we generate opportunity, stability and wealth for the next generation to build a more equitable, better tomorrow.

We want to thank Plante Moran for its support in making this event possible. Plante Moran’s franchise-focused team is dedicated to providing audit, tax and consulting services to the franchise industry with an understanding of the unique nature of franchise operations.

If you didn’t get a chance to attend or would like to view the discussion, click here to download the video recording.

To further foster these connections and share best practices, we encourage anyone who would like to stay connected to check out our NIFA LinkedIn group.

Looking ahead, we are planning wonderful events for Q4 and into 2022. We encourage anyone with topic ideas and sponsorship questions for future events to reach out to Lauren Izaks directly by clicking here.

Visit www.northernilfranchise.org for more information about the organization.

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