Do You Appreciate Your Franchise and are YOU Being Appreciated?
By Steven Belmonte CEO, Vimana Franchise Systems LLC | August 21, 2011
2011 seems to be a year filled with appreciation - and rightly so. Coming out of one of the worst economic depressions in decades, people are beginning to really value those who helped them stay afloat during tough times.
This year you can search and find the customary "Military Appreciation Day," "Customer Appreciation Day," and "Secretary Appreciation Day" type events plus some that are more unconventional, such as "Collector Car Appreciation Day," "Hero Appreciation Day," and "Super Secret Comic Book Appreciation Day." This got me to thinking, but what about "Franchise Appreciation Day?"
For nine years the International Franchise Assn. (IFA) hosted such an event that brought together franchise executives across multiple markets to meet on Capitol Hill and discuss how franchisors and their franchisees are being impacted by Congressional decisions. While it proved to be an important event for many years and got Congress to acknowledge their appreciation of the franchising sector, it may not have done much to bolster the "appreciation" felt between the franchisors and franchisees themselves.
Used as a verb, "appreciate" means to recognize the full worth of something, to be grateful for something, to raise in value, esteem, or price.
Using that definition as a basis of discussion, would a "Franchise Appreciation Day" be lucrative today? Do franchisors truly "appreciate" their franchisees and vice versa?
As Chairman and CEO of the industry's leading franchise negotiations company that provides new franchise agreement negotiations and franchise termination/liquidated damage claim negotiations services, I would answer: "No. Absolutely not." Almost daily, I am called upon to help hotel owners resolve disputes that arise between themselves and the franchisor as a way to avoid litigation. While there are always two sides to every story in franchising, right or wrong the odds typically favor the franchise company.