Franchising in the Age of Trump
Things are different now, as any global citizen or Facebooker is now aware, and a changing U.S. administration will likely represent a major course change at the International Franchise Association now that several of its most pressing issues are teed up for a more favorable outcome under the future President Trump.
The day after the election, the IFA sent out a press release congratulating the new President-elect, while outlining its priorities in the coming years.
“This was truly a historic election, however now that the votes are almost fully counted, the real work begins,” said IFA President and CEO Robert Cresanti. “The IFA congratulates President-elect Trump on his victory and Congressional Republicans for retaining their majorities and looks forward to working with members of both parties to put the country on a long-term pathway to economic growth.”
Under the new administration, it’s likely there will be changes to the joint employer standard and Department of Labor’s new overtime rule. Whether the changes will be stark or more gradual, any changes are likely to benefit two of the franchising industry’s highest concerns.
“We urge the President to strike the massive regulatory state created by the practice of legislation through executive order and for Congressional leaders to repeal these unnecessary, harmful, and overly burdensome regulations, beginning with the newly broadened joint employer standard and the Department of Labor’s overtime rule,” Cresanti said.
The IFA, along with more than 1,100 members of the business community, presented a letter of unity to the next president, expressing a desire to work constructively and respectfully. The letter, which was signed by IFA’s Chairman and Managing Partner of NRD Capital Aziz Hashim, demonstrates the commitment the business community has to bring the country together and restore faith in our vital economic and government institutions.
“We must never forget that we have an ongoing duty to lift everyone up and show how important businesses can be in helping to democratize opportunity for all Americans regardless of their background, education or station in life,” explained Hashim. “Franchising is the most accessible pathway to the American Dream and I am proud to sign on to a letter that ensures that message is being spread as widely as possible.”
As our upcoming Restaurant Finance & Development conference approaches, I’m looking forward to my interview with Juan Williams, a well known political analyst from his work at Fox News, The Washington Post, The New York Times and The Wall Street Journal.
This is your chance, dear readers! Are there any questions you’d like Williams to address related to franchising? Don’t be shy. Send any suggestions to my inbox: firstname.lastname@example.org.