Ron Feldman
speaker
3,922 appearances
11 recordings
1 series
first heard Jun 2010
last heard Dec 2020
Ron Feldman’s voice in public audio — every appearance, attributed to the second.
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Appearances
And for the last I don't know how many years, they've actually had the Franchisee of the Year Awards at this event.
So it's a great event for the whole industry.
I think there's two clear and very separate paths that we're going in franchise finance.
And it all relates to...
Size really does matter in franchising.
And where we see the market going and where it is right now is great borrowers, great operators who have excellent unit-level economics, who show their profit on their tax returns, who have a visible history that a bank underwriter can look at.
are having no access to capital issues.
In fact, it's getting too loose.
And I can't believe I'm saying that, but it's getting a little too loose.
And in that instance, and especially at the very, very high level, you know, the $10 million and up level, which is not the, if you look at number of stores, it might be a material number, but if you look at number of franchisees, it's not.
When you get down into the lower levels, between $1 and $10 million,
It's very competitive still, again, for qualified existing operators looking to grow.
The flip side of that is the corporate refugee who's looking to buy a franchise or get involved with a franchise who has no direct experience and no history that can show that they have an ability to repay is really still behind the eight ball and having a real difficult time getting that first unit done.
The reality is that you're being measured today for next year when you have the mandate coming to you.
Your history today matters next year.
So your actions right now have consequences.
And there's a bunch of manage-arounds now, and there's a lot of consultants out there that are creating a new industry.
It's funny.
It is creating jobs.
It's creating jobs for those folks that are figuring out how to manage around Obamacare.
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