Business & Economy
Franchising Structure Can Be Source of Comfort in Recovering Economy PDF Print E-mail
News Releases - Business & Economy
Written by Brad Sarkauskas   
Friday, 16 September 2011 13:23

(Davenport-Rock Island-Moline, IA) For many experienced businesspeople, a franchise opportunity can offer a fresh start in the business world and a new challenge. Especially during the recession, when talented executives and managers were losing their jobs at unfathomable rates, franchising remained a strong business structure, as it attracted these individuals.

"They called it rightsizing - they had all sorts of euphemisms for it," franchisee Reynolds Corea, a 50-year-old father of two college students, told the Indianapolis Star. "But it was a layoff."

Fortunately, Corea and many other "corporate refugees," as the source calls them, found a second opportunity in the strong franchising sector. In fact, franchising as an industry is preparing to grow at a rate of 2.5 percent in 2011, according to the International Franchise Association's 2011 Franchise Business Economic Outlook. Furthermore, franchising is expected to add 2.4 million jobs in 2011, helping to propel its economic output from $706.6 billion in 2010 to $739.9 billion.

Why has this model become so popular, especially in a time of economic turmoil? Because it reduces the risk for businesspeople. In an independent business, individuals can sink their retirement funds and home mortgages in a venture without a marketing strategy, proven product or developed audience.

Franchising, however, provides all three of these aspects and also offers franchisees a support system, including experts and training programs,that they can lean on in times of trouble.  “Franchising shortens the learning curve and allows the franchisee to apply all of their professionals skills while the system compensates for less developed areas,” added Sarkauskas, Liberty Tax Area Developer.

"You are accepting someone else's business model, their public image, their cost structure, and you are agreeing by and large to follow their policy manual quite rigidly. That arrangement can be a source of great comfort," John Pearce II, endowed chairman of strategic management and entrepreneurship at Villanova's School of Business, told the paper.

However, a support system does not mean that a franchisee is forfeiting a sense of ownership and independence. Especially for individuals exiting the corporate world, being their own boss is of paramount importance.

About Liberty Tax Service

Liberty Tax Service is the fastest-growing retail tax preparation company in the industry’s history.  Founded in 1997 by CEO John T. Hewitt, a pioneer in the tax industry, Liberty Tax Service has prepared over 8,000,000 individual income tax returns.  With 42 years of tax industry experience, Hewitt stands as the most experienced CEO in the tax preparation business, having also founded Jackson Hewitt Tax Service.

Liberty Tax Service is the only tax franchise on the Forbes “Top 20 Franchises to Start,” and ranks #1 of the tax franchises on the Entrepreneur “Franchise 500.” Each office provides computerized income tax preparation, electronic filing, and online filing through eSmart Tax.

 

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Harkin: Let’s Put America Back to Work and Rebuild the Middle Class PDF Print E-mail
News Releases - Business & Economy
Written by Sen. Tom Harkin   
Thursday, 15 September 2011 07:32
President’s Jobs Proposal Includes Harkin-led Efforts to Fund Education Jobs/School Construction

WASHINGTON, D.C. – Senator Tom Harkin (D-IA) tonight issued the following statement after President Obama addressed Congress on the need to put America back to work.  Harkin is Chairman of the Senate Health, Education, Labor and Pensions (HELP) Committee and the Appropriations subcommittee that funds education and labor initiatives.  He has fought to prevent massive layoffs of American teachers and is leading the effort in Congress to rebuild the middle class in America.

“Traveling in Iowa this summer it was abundantly clear that the number one issue impacting Americans is not the budget deficit, but a far more urgent deficit: the jobs deficit.  By all means, we need to agree on necessary spending cuts and tax increases to bring deficits under control in the longer term.  But in the short term, we need a robust federal agenda to boost the economy and create jobs.

“I am encouraged that the President’s proposal goes to the heart of that effort by investing in the jobs that sustain a strong middle class.  In particular, new funding he proposed for educator jobs will keep teachers in the classrooms.  This echoes a bill that I pushed through Congress last year to provide $10 billion to keep teachers on the job in the face of deep cuts to state budgets.

“The President’s call to renovate our schools is a win-win for our economy and for our children.  Kids cannot be expected to reach their full potential if the school they attend is crumbling around them.  And my experience in Iowa in providing funding to renovate our schools shows that every dollar in federal funds that is provided for school construction leverages an additional four dollars in funding from other sources, creating jobs and economic growth.

“And I was pleased to see he proposed ramping up federal investments in infrastructure to boost U.S. competitiveness and create construction jobs.  As the American Society of Civil Engineers estimates, America faces a $2.2 trillion infrastructure backlog and they are correct to say that “we are still driving on Eisenhower’s roads and sending our kids to Roosevelt’s schools.”  His proposal also offers assistance so that the long-term unemployed can support their families while they continue to look for work.

“As we move forward, we must also address the fact that two-thirds of adults with disabilities are not working. In the HELP Committee, I intend to continue to hold hearings on the best way to address this issue.

“Now that this proposal has been unveiled, I encourage the President to use the bully pulpit and fight to get it passed.  Where necessary, draw a sharp contrast to those who offer only obstruction and do-nothingism.  It’s time to break up the gridlock in Washington and put America back to work.  The future of our middle class – and our economy – depends on it.”

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Governor Quinn Statement on President's Announcement of the American Jobs Act PDF Print E-mail
News Releases - Business & Economy
Written by Andrew Mason   
Thursday, 15 September 2011 07:30

CHICAGO – September 8, 2011. Governor Pat Quinn today issued a statement following President Obama’s announcement of the American Jobs Act:

“Tonight, the President laid out a plan that will put Americans back to work now. We in Illinois applaud President Obama’s vision for American innovation, infrastructure, fiscal responsibility and bipartisanship. As our country recovers from the worst recession in decades, we must invest in our small businesses and the sectors that are creating the jobs of today and tomorrow. I support the President’s plan, and I stand with him in calling on Congress to put aside partisan politics and do their part for America’s working families.”

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Grassley urges President to re-establish U.S. leadership on trade PDF Print E-mail
News Releases - Business & Economy
Written by Grassley Press   
Tuesday, 13 September 2011 12:34

WASHINGTON – Sen. Chuck Grassley of Iowa today joined a group of Republican senators in urging President Obama to submit the pending trade agreements with Colombia, Panama, and South Korea to Congress for a vote.  Grassley said the United States has fallen behind other countries in implementing trade agreements and negotiating potential new trade agreements, calling that unacceptable when so many Americans need jobs and trade supports jobs in the United States.

“Nothing has been done and the United States is losing its leadership in what we’ve done for 60 years in world trade, leading the rest of the world,” Grassley said.  “The status quo has to end.  The United States has to re-assume its leadership.  And that’s not only for the benefit of the United States.  That’s for the benefit of expanding the world economic pie.”

Just a few years ago, under a different White House, the Senate passed implementing legislation for free trade agreements with 13 countries (Australia, Bahrain, Chile, Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, Morocco, Nicaragua, Oman, Singapore, Peru), Grassley said. The current White House has not initiated any new trade agreements.  While this White House is engaged in negotiations of the Trans-Pacific Partnership, that’s a carryover from the prior Administration, he said.

Grassley is a senior member and former chairman and ranking member of the Finance Committee, with jurisdiction over international trade.

Video of Grassley’s remarks at today’s news conference is available here.

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Iowa Army Ammo Plant jobs PDF Print E-mail
News Releases - Business & Economy
Written by Sen Charles Grassley   
Thursday, 08 September 2011 07:44
Senator Chuck Grassley issued the comment below about the determination announced today by the U.S. Army Joint Munitions Command that no additional review is needed in order to move production work from Milan, Tennessee, to Burlington, Iowa.

Senator Grassley has worked with others in the Iowa congressional delegation for the last three years to help prevent legislative roadblocks to implementation of this positive development for the Iowa Army Ammunition Plant.  The decision to consolidate the work to Iowa was made by the U.S. Army based on a competitive process.

Grassley comment:

“This decision is tied to more than 100 new jobs at the ammunition plant in Burlington.  The Army’s decision is a tribute to the Iowa workforce and the legacy of the Iowa plant.  At this point, there shouldn’t be any more red tape to clear for the production line to start running, and that’s very good news in Southeast Iowa.”

 

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