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As if you need another reason to purchase a franchising, how about this very simple one: it makes you happier.

This is according to the latest poll from Gallup, who have found that, of all occupational groups, business owners enjoy the happiest well-being. How about that! That’s obviously a sign that owning your business pays back in ways you’ve never even considered.

Improve your work-life balance considerably today by owning a franchise.

Franchise Direct is a great resource for advice on starting a franchise.

It’s a difficult decision and we will guide you every step of the way until you get your business off the ground. For people with questions about owning a franchise, every question you’ve ever needed answering is here. We also like to pass on pertinent advice when we come across it, which is why we thought this story in the Idaho Statesmen was of particular importance. Pete Gombart, CEO of Ballihoo, a marketing automation solutions business to franchise-based companies provided some of his experiences on working with the franchising industry. He had this bit of insight for new franchisees:

[T]he most important observation I’ve made in working with franchisees is that a franchise’s success is most highly correlated to the people who run it, and not necessarily to the national brand or system.

Gombart’s advice is to focus on the local market instead of getting too caught up in trying to implement a national system. That’s sound advice, and to that end, franchisees might be interested in some research on advertising in the soft economy. A new study by Ad-ology says that 48% of Americans think that a  business’s failure to advertise is an indicator that the business struggling. We all know that success is a contagious, and perhaps this study shows that keeping a presence in public advertising spaces does a lot to spread positivity. It’s an important thing for small franchisees to consider as budgets tighten. If you have any questions about franchising, don’t be afraid to ask in the Comments section below. [Hat tip to the Franchise King]

President Barack Obama’s first 100 days in office have passed with deserved fanfare. It’s clear that America has turned a corner, and both nationally and internationally, President Obama has steadied the ship to a certain extent. The signs that the economy has emerged from its deepest doldrums will only encourage the President as he goes forward in his term.

But there’s one sector that’s decidedly uncertain about President Obama’s performance, and that’s the small business world. While Obama’s first 100 days will be defined by his bailouts to Wall Street and his aid tp the automotive industry, his commitment to the small business and franchise sector has been somewhat less voluble. A story on the Wall Street Journal’s Independent Street blog profiles the tepid reaction among many voices in the small business sector towards the new prez.

“Unfortunately, small business owners largely believe that Washington just keeps cranking out more ways to abscond their limited time, capital and resources,” says Karen Kerrigan, executive director of the Small Business and Entrepreneurship Council, a lobby group, in a news release. “We hope that in the next 100 days and beyond, President Obama will turn to entrepreneurs for ideas that will reduce their government-imposed costs and burdens, solutions that will help them maintain and grow their workforce, and options for providing affordable health coverage.”

The story posits that some of the mixed reaction to President Obama in small business circles is political  - “many business advocacy groups tend to lean Republican”, Kelly Spors writes. And healthcare continues to be a contentious issue. But this blog tries to go beyond politics. We have seen time and time again how franchises and small businesses can reignite the economy. The macro signs show that we have endured the worst of the recession, but America will not return to its past economic glory until entrepreneurs get the necessary capital they need to get local economies – the real economy – properly functioning again.

President Obama arrived in Washington championing a mantra of change. For small business owners, it seems, the new president has not entirely delivered, and key tests, especially regarding health care, loom large.

What are your feelings about the next 100 days and beyond?

Let us take a moment to offer a belated welcome to Karen Gordon Mills, who was finally confirmed as the head of the Small Business Administration last Thursday. Her appointment couldn’t come fast enough, as cracks in President Obama’s small business stimulus package are already beginning to emerge.

Ms Mills, who comes to the position after a successful career as a venture capitalist, perhaps does not seem like the ideal candidate for revitalizing the small business sector, but she has made all the right soundings during the confirmation process.

“I am a believer in American small business,” she told the committee. ” … If confirmed I pledge to pursue these tasks with the utmost energy, and to be your partner in giving small businesses the help they need to thrive, to grow and put Americans back to work.”

As Business Week magazine chronicles, Ms Mills’s appointment has been widely hailed by those in politics and the small business sector. They quote Karen Kerrigan, president of the Small Business & Economic Council:

“I think [Mills] can be highly successful in transforming the agency by simply focusing on collaborative partnerships with other agencies and departments, as well as business associations and private-sector partners.”

Unfortunately, Ms Mills really has her work cut out for her. The Washington Post recently reported that only two weeks after President Obama pledged $15billion for the small business sector, “every major provider of these kinds of loans says the plan will not work as designed”. It seems that lending institutions are finding the terms of the government’s plan, in particular having to surrender ownership to the government and limit executive pay, so unappealing, they’re not participating.

“How can you do business if the government at any time can change the rules of the game to protect its investment? That unknown today . . . puts us in a position that we don’t feel is prudent,” Joseph J. DePaolo, chief executive of Signature Bank.

So the challenge for Karen Gordon Mills is pretty clear. The country is full of prospective franchisees ready to start work. What they are waiting for is free-flowing capitol. Her success (or failure) in her post will be judged on whether small business people can get the lifeline they desperately need.

We’re all for passing on the most prescient advice about business leadership at the moment, so we were interested to read Ray Silverstein’s recent column ‘14 Things Smart Leaders are Doing Right Now’.
Writing on Entrepreneur.com, Mr Silverstein provides a number of interesting tips for investors. The following ones caught our eye:

Monitor cash flow. Cash is king, now more than ever. Make sure your lines of credit are adequate, and pay extra attention to cash-flow projections. If you run short of working capital, manage by cash (not profit and loss statements). Monitor your numbers closely, and be ready to act.
Renegotiate with vendors to reduce expenses. Take your rent, for example. If your lease will expire in the next few years, suggest a longer-term lease in return for cost concessions. Or, if you are in a position to pay suppliers promptly, use it to obtain price discounts and promotional allowances.

What (realistic) tips might you add to this list?