Start a Padgett Business Services Franchise Business

Description: Take control of your career as a small business expert by becoming a franchise owner with Padgett Business Services, one of the largest privately owned small business services firms in the country.
Opportunities: Opportunities available throughout the US and Canada.

Business Type: Franchise.
Minimum Investment: $42,500.
Training Provided: Yes.

Padgett provides compliance, management financial reporting, payroll and business advice services to the small business sector. When CEO Steven Rafsky made a routine visit to the home office of Padgett Business Services® in Athens, Georgia last month, the message he delivered to nervous employees was anything but routine: "I announced our commitment to not reduce one position during this economic rebuilding period," Rafsky said.

The announcement was met with stunned silence, followed by applause and echoing sighs of relief. The same announcement was made in the company's Westwood, Massachusetts office where it was received with similar reactions of relief. Following the announcement, Rafsky learned that some employees' spouses have already been victims of downsizing.

"When Steve started the conversation about the economy and the fact that many other companies are downsizing, I was anticipating the worst," said Padgett employee Brigitte Blain. "Both my husband and I are employed by Padgett, so if they cut staff, our family would be in a world of trouble. It felt like a weight had been lifted off our shoulders. We are so grateful to work for a company that realizes the value that we bring."

For his part, Rafsky said, "For 43 years our company philosophy has been that 'your success is our success.' That applies to our franchisees, our clients and all those who do such great work every day."

At its company-owned and franchised locations, there are approximately 1,000 people employed at Padgett Business Services. The Athens, Georgia home office employs about 20 staff members. After witnessing the reaction to his commitment to not reduce positions, Rafsky sent a memo to each office nationwide encouraging them to follow his lead. "The reaction from our franchisees has been tremendous, as well. Our franchisees agree that the short-term savings realized by reducing staff would simply not be worth the negative psychological and real impacts on the firm," Rafsky said.

Rafsky and his staff discussed today's headlines of job losses and an economic downturn. But he suggested to his staff that they should look at it differently; we are in a period of economic rebuilding and, by maintaining staffing levels, we can set a positive example that we hope others will follow. Rafsky acknowledged that the company's forecast for the fiscal year ending May 31, 2009 was well below the plan, yet he described the year-to-date results as stable. "Our results are stable due to hard work and careful spending, and we will continue to have a long-term vision with regard to staffing," he said.

"One way we can help our economy rebuild is to go against the popular trend of large corporate executives and boards," said Rafsky. "I made the announcement to affirm our management team's commitment to our staff and their families, and I have to say I was overwhelmed by the positive response."

He noted that during these economic times, Padgett's clients need the company's help more than ever. Rafsky said that he truly believes that fear is fueling the economic downturn and the stock market decline, and that the small business sector of the economy will emerge as a leading force during this period of rebuilding. He affirmed that Padgett is committed to continue opening new Padgett locations, although he acknowledges the return on that investment takes a couple of years for Padgett to benefit.

"We are continuing to search for qualified candidates to operate new and expanded Padgett Business Services offices. We will continue to execute our expansion plans," said Rafsky. "Although it is difficult, we will continue our efforts to add new locations each year during this economic rebuilding period and we will continue to execute our plans with a positive outlook to the future."

During the fiscal year ending May 31, 2009, Padgett opened 26 new locations and expects to open at least six more locations in the coming months.

Rafsky believes that companies need to focus on moving forward if the economy is going to start a recovery, and the Padgett team is focused on doing just that. The message that Padgett is trying to convey to its clients is simple - yes, it is tougher right now; and yes, we can recover by staying focused on and executing sound business plans.

For over 40 years, Padgett Business Services® has catered to the individual needs of small business owners through a network of 400 local owner-operated offices. By way of personal relationships and efficient service, Padgett provides "peace of mind" to its clients by helping them focus on operating their businesses more successfully. Padgett offers business advice and consultation, tax consultation and preparation, government reporting compliance, financial reporting, complete payroll services, and other services important to small businesses.

For more information about the Padgett Business Services® franchise, please complete and submit the form below.

We only send your details to the specific franchise companies you nominate. We do not share or sell your information.