In The News
Family Ties, Chance to Help Rebuild New Orleans Spur Business Opportunity
Jun 20, 2012
As did everyone in the region, Ted Fireman saw the destruction caused by Hurricane Katrina up close and personal as he had family and friends in the area. Now he’s combining a vision to help the rebirth of the region with a business opportunity that he hopes will fuel a new generation of business enterprise. Fireman has opened FranNet Louisiana, the local office of the international network of business consultants, FranNet, that helps budding entrepreneurs find rewarding careers in franchise ownership.
“I was married in New Orleans back in 1985, have family here and have a long history here,” explained Fireman, the owner of the new FranNet office. “We’re down here all the time visiting family and friends, and I knew I wanted to make a difference somehow. My wife and I have always looked for a way to move back here. As the region continues its rebirth, the chance to be part of the solution through business and job creation made for a special opportunity to move back here and open this office.”
Fireman, 56, has spent the majority of his professional career in central Ohio, most recently as owner of a consulting firm that advised and managed special capital-raising projects for the YMCA, local economic development groups, and the Ohio State University. Prior to that, Fireman owned and operated The Little Gym, the world’s premier franchise provider of motor skill development programs for children. He evolved that company into a new concept, Teddy Bear Mobile Fitness Program, which provided on-site development programs for kids. He began his career leading his family’s business developing manufactured home communities throughout Ohio.
Fireman sees his new office as not only a vision for the regional rebirth he’s cultivating as a business owner, but to the reality facing current and former executive and mid-level employees in corporate America today.
“We’re seeing more and more people turn to business ownership, specifically franchising, as an option in this economically-sensitive environment in which we’re living,” said Fireman. “Between unemployment and underemployment, more people are choosing to leave corporate America and start their own business. Now, New Orleans and this region have a unique set of challenges, but with incredible opportunity and spirit. Wherever you go, people are seeking employment satisfaction and the chance to make a difference.”
Fireman hopes his new office can open eyes to opportunities in business ownership across Louisiana. He says corporate workers are feeling unfulfilled and that workplace unhappiness is at an all-time high. He points to a recent survey by Right Management, a Philadelphia talent and career management firm, which yielded some astonishing results. For the second year in a row, 84 percent of more than 1,000 employees surveyed said they plan to look for other jobs in 2012. The percentage of workers who said they intended to stay in their current employment remained steady at a stunning five percent.
Many of these workers are researching business ownership where the franchise industry is thriving and a leader in job creation. The International Franchise Association predicts that the industry will grow by two percent in 2012, creating 168,000 jobs and pumping an additional $37 billion into the nation’s economy.
For those individuals who wish to pursue franchise ownership as an option, Fireman guides and counsels them face-to-face through the process of researching and buying into a franchise that’s the right fit for them professionally, personally and financially. FranNet’s services are free to its clients because, much like an executive recruiting service, the franchisor pays the company a fee when one of FranNet’s clients buys into a franchise.
“I really want to help people understand the opportunities available and make the process an easy one,” said Fireman. “Many people want to own their own business, but the fear of failure keeps them from doing it. Franchise ownership allows a person to start a business and reduce the risk because the business model, brand recognition and support are in place. There are many franchise companies and opportunities in our area that most would not realize are a franchise. It’s a lot more than just fast food.”
A recent study by FranNet found that its placements have performed particularly well with its franchisors. The study looked at more than 1,250 placements the company made from 2006-2010, and found more than 91 percent were in business after two years, and that 85 percent were in business after five years. Those numbers compare to industry averages of 64 percent and 50 percent, respectively. Further, nearly 15 percent of FranNet’s placements were top performers for their respective franchises.
FranNet provides individual and group training seminars and webinars for the SBA, SCORE, small business development centers, government and military groups, and outplacement firms to help individuals transition to self-employment. It also holds informational events that help build awareness for the franchise industry in New Orleans and across Louisiana.
“We’ve not only seen an increasing number of corporate folks exploring their options, but we’ve seen military members looking for business opportunities skyrocket,” said Fireman. “But financing a new business is always a concern. Many people can use their 401K and IRA savings tax-free and penalty-free to fund their business. For the military members struggling to find capital, some of the franchises have attractive incentives especially for the military, including some that completely waive the franchise fee.”
Fireman is available for commentary, on-air expertise and panel discussion work related to franchising and entrepreneurship in New Orleans and Louisiana.
