Turning Tough Times Into Success

Although private employers in September added 64,000 workers, total payrolls fell a larger-than-forecast 95,000. In tough economic times, franchises are a relatively safe way of doing business. The drop in U.S. payrolls in September largely reflected local governments firing educators and other workers to make up for declining tax revenue. Struggles to keep state and local government budgets balanced likely will continue to weigh on job growth and sustain the level of weekly jobless claims. One dynamic star on the U.S. business scene is The ACFN ATM Franchise Business, headquartered in San Jose, California, where the company was ranked by the Business Journal as the 43rd Fastest Growing Private Company in Silicon Valley for 2007 - 2009. “ACFN is a North America company with operations in all 50 States and Canada, however by utilizing our franchise business model we maintain the operating efficiencies of a local company”, says Jeff Kerr, Founder and President of ACFN. Since launching the franchise division in 2003, ACFN (American Consumer Financial Network) has 165 Franchises operating over 1350 ATM's in the U.S. and Canada. The Washington, D.C.-based International Franchise Alliance, said the group estimates that in 2008 there were about 900,000 franchises with over 21 million workers providing $2.3 trillion in economic activity. These franchises “cross over about 100 different business categories,” The International Franchise Association suggests what the entrepreneur minded American has known for a while, that franchisees enjoy a significant competitive edge over the stand-alone business operators. They noted a study showing that 86% of franchise companies which opened in the previous five years were still in business under the same owner and only 3% of these businesses failed. Conversely, a US Small Business Administration (SBA) Survey in that same article showed 62.2% percent of all new businesses started over a 10 year period dissolved within their first six years. “ ACFN's ATM franchise equips you with the tools and the know how to manage the business". Avi Blankroth, Excecutive Vice President of ACFN says. "The process begins with each franchisee purchasing ATMs, while ACFN locates and contracts lucrative placement locations" Blankroth believes that "franchising offers crucial support, whilst still providing the scope for franchisees to make personal business decisions. In the same vein, people choose to go the franchising route owing to the security it offers".