This article originally appeared in Franchise Times.
Whatever side of the aisle you’re on politically, most agree that the election of Donald Trump as the next President of the United States was a surprise. Like most industries (and people), franchising is trying to asses the implications of our next president, and his agenda that promises to be a significant departure from what we’ve seen under the Obama Administration.
Bill Redfern, CEO of Global Franchise Opportunities, is expecting significant benefits to the industry.
“We believe that once the dust settles and everyone gets down to the overall business at hand, we will see huge economic benefits from president-elect Donald Trump’s initiatives,” Redfern said. “The United States is very well-respected in terms of historical franchise success, and with a stronger economy in the United States, the influence of franchises based here will grow accordingly. We see a very strong period of growth in the foreseeable future.”
Lenny Verkhoglaz, CEO of Executive Care, also expects to see benefits to his company, especially in terms of labor regulations that are expected to loosen.
“Over the last few years, the home care industry has experienced labor regulations that caused financial strain on business owners,” Verkhoglaz said. “With this change in leadership, we hope to see less regulation in place so that our business can free up our capital, strategically manage employee wages and allow us to expand our company. Also, in the home care industry, immigrants play an important role as caregivers by growing our company and pushing the United States’ economy forward. We hope that the government will take a proper stance by adequately vetting in-comers and providing them an opportunity to pursue the American Dream.”
At Huddle House, CEO Michael Abt also stroke an optimistic tone, specifically calling out the joint-employer issue that has activated many in the franchising industry in recent years.
“I am optimistic that the new administration will bring with it less business regulation, as many of our franchise partners have expressed a reluctance to expand due to increasing concern about growing government intervention. Additionally, I would look for the new administration to put an end to the NLRB franchisor witch hunt as example-d by recent 'joint employer' decisions.”