Franchise Resources | Franchise & Small Business News

IFA’s information hub provides resources designed to keep you informed on the latest franchise thought leadership.

Choose from a list of topics. Select curated content that explores what’s important to the franchise community - franchise and small business news, small business trends, advice from franchise experts, and engaging articles from IFA’s franchise magazine Franchising World.

Emerging Brands – COVID-19 Procedures, Support and Communications with Franchisees: What you should do to lead them

Franchisor members discussed the challenges and solutions their brands are encountering amid the COVID-19 pandemic, as well as financial relief options available to businesses in light of recent legislation. Panelists discussed the need for companies to establish and maintain a flow of accurate information and data from brands and government resources, including from state and CDC sources. The panelists also reviewed recent updates pertaining to rulemaking from the Department of Treasury on Paycheck Protection Program Loans (PPPL)
Franchise Relations

How Payroll Systems are Working to Get Loan Money in the Hands of Small Business

This webinar’s panelists discussed payroll system operators’ role in the broader stimulus and loan efforts undertaken by recent government action, and outlined relief options available for small businesses. The panelists focused on the Employee Retention Tax Credit and Paycheck Protection Program Loan provisions of the recent CARES Act, and how payroll processers can act as trusted advisors on the front and back-end of loan forgiveness provisions through documentation and record-keeping compliance.

DOL Guidance Update and Phase 3 Provisions – What Does it Mean for Franchising?

Attorneys from labor law firm Littler Mendelson outlined several of the key provisions of recent federal stimulus legislation related to the COVID-19 pandemic. The panelists discussed the Families First Coronavirus Response Act (FFCRA), Emergency Paid Sick Leave, Emergency Family Medical Leave, and the CARES Act. The panelists discussed the new mandates on businesses, as well as compliance measures, and loan options open to businesses in light of the stimulus bills.

Understanding Loan/Grant/Funding Options in the Stimulus Package

IFA leadership discussed the various loan relief programs offered through government agencies, and as a result of the highly anticipated legislation recently passed by Congress. Though implementation of the Paycheck Protection Program loans (PPPL) by the Small Business Administration and via commercial lenders is forthcoming, the panelists outlined the importance of liquidity at this time and to take advantage of the loans offered by these outlets. The panelists took a step-by-step look at the loan terms and documentation needed by franchise businesses to access new loans and their eligibility for forgiveness within these programs.

COVID-19: Long Term Cash Flow Management Tips

IFA supplier leaders from global accounting firm Citrin Cooperman provided participants with “timeless tips” and guidance for businesses to conserve cash flow as they contend with business interruption. The panelists offered both short term and long term solutions to deal with the current crisis, including: deferring expenses; communicating with bankers to manage possible refinancing and repayment options; tax deferral; and review of existing contracts. Longer term, the panelists recommended planning for new sources of cash flow via government loans with an eye toward accommodating labor changes, and preparing business for liquidity challenges going forward.

If you Have to Make Layoffs, Furloughs, or Close a Unit

Panelists discussed the legal implication of layoffs, furloughs, and closures from both legal and communications standpoints. Bruce Millman of Littler Mendelson discuss the differences between layoffs and furloughs, and the business effects due to the discontinuation of the employment relationship. The panelists discussed issues arising due to WARN Act considerations for businesses, as well as the internal and external communications strategies and processes for dealing with employment uncertainty, and laying off employees.