FEB 18-19
ICSC Mid-Atlantic
FEB 10
FEB 26
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Q&A with John Reynolds, International Franchise Association
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| What is the coolest retailer/restaurant to open in DC in the last 6 months? click to answer |
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The 2009 Mid-Atlantic ICSC Idea Exchange will take place at the Walter E. Washington Convention Center on February 18th and 19th. Main attractions include the Developer's Runway, where the region's most significant new retail projects are featured; the Retailers' Runway, featuring new or expanding retailers in the Greater Washington Area; and various retail specific sessions including a State of the Industry presentation. READ MORE...
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| Report Finds Incubation Programs To Be A Catalyst for Economic Development, Economic Revitalization, Job Creation |
| The Washington DC, Economic Partnership (WDCEP) has recently completed a highly anticipated Technology Incubator Feasibility Study commissioned by the Deputy Mayor for Planning and Economic Development. The study found that there is a high demand for the development of a Technology Business Incubation Program in the District of Columbia, a city which already has a framework for an innovative economy. Job creation for District residents would be a direct result from the establishment of an Incubator. READ MORE... |
| 2009 Neighborhood Profiles Released |
 The Washington, DC Economic Partnership (WDCEP) will release its 2009 Neighborhood Profiles at the Mid-Atlantic ICSC conference in Washington, DC. This year the WDCEP produced 38 neighborhood profiles, offering businesses an overview of DC's neighborhoods and commercial corridors. READ MORE...
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| Starting a Franchise: Opportunities to Start & Own A Franchise |
 Please join WDCEP's panel of experts Wednesday, February 25, 2009 from 9-11am at 1495 F St NW as we discuss strategies for starting and owning a franchise business in the District of Columbia. A franchise is a solution for people who want to own and operate their own business, but prefer working under an established brand and benefitting from the experience and know-how of the franchisor. CLICK to read more and register |
| WDCEP Launches Initial Start-Up Considerations Initiative |
Initial Start-Up Considerations, an initiative of the Washington, DC Economic Partnership's BusinessPremier program, was developed to actively engage targeted communities through entrepreneurship training and tutorials on the use of the 2008 Doing Business in DC Guide Book (published in English, Spanish, Korean, Chinese and Vietnamese). This series and its publication have been sponsored by a generous grant from the Neighborhood Investment Fund administered by the Office of the Deputy Mayor for Planning & Economic Development. READ MORE...
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| Popular Lecture Series Continuing This Spring |
 2009 will continue the popular InDC lecture series for the Washington, DC Economic Partnership. The hour and a half long program will feature engaging, candid and thought-provoking conversations with DC's most compelling leaders, thinkers, newsmakers, and authors. With an emphasis on economic development, the program will offer insight and encourage interactive discussion for both panelists and audience members. Stay tuned for information regarding dates and themes.
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| Thoughts on Incubators |
| As WDCEP finishes up its Technology Incubator Feasibility Study key stakeholders Darold Hamlin, President and CEO of the Emerging Technology Consortium, Peter Corbett, CEO of iStrategyLabs, and Charles Plank, CEO of Affinity Lab were asked to share their thoughts on incubators. CLICK HERE to read their responses on the purpose of incubators, how each has been involved with incubator development, their views on incubators and innovation, and what they think is most important for you, the reader, to learn from this article. |
| Cool Deals in DC |
Wondering what's new in DC's retail and restaurant world? Check below for several new and up and coming store openings:
Buddha Bar (455 Mass - late 2008 deal)
Matchbox (8th Street, SE )
Guess (1155 F St, NW)
Forever 21 (1025 F St, NW)
The Meeting House (3700 Georgia Avenue, NW)
Siroc (915 15th Street NW)
Blue Ridge (Wisconsin Avenue in Glover Park)
Zola Wine & Kitchen (Penn Quarter)
Janus et Cie (Cady's Alley in Georgetown)
Five Subway Café locations are planned for the DC area in the next 18 months.
Know of other new cool deals taking place in the city? Email ajospeh@wdcep.com to have them featured in future editions of the Notebook. |
| Greater Washington Fashion Chamber of Commerce (GWFCC) Launches the first ever "Fashion Census" in Washington, DC |
| GWFCC is pleased to announce the creation of a new initiative called the "Fashion Census". The Fashion Census is the first market research study of its kind that will attempt to accurately survey the needs of the Fashion and Retail industry in Washington, DC. By launching this survey, GWFCC aims to gauge the size of the industry and identify the resources that are needed to support this emerging creative economy. The survey will be launched in mid-February and there will be a formal launching of the "Census" at the next GWFCC sponsored Fashion Hour on February 18th, 2009. READ MORE... |
| DSLBD Launches Greening DC Restaurants Project |
The Department of Small and Local Business Development (DSLBD) has begun assessing restaurants to help DC's neighborhood restaurants as part Greening DC Restaurants, a project that offers free technical assistance to restaurants operating in District neighborhoods. Restaurants located in the central business districts also may participate if space permits. READ MORE... |
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Q & A w/ John Reynolds, International Franchise Association (IFA), Vice President, New Business Development, President, IFA Educational Foundation
The mission of IFA, founded in 1960, is to protect, enhance and promote franchising. IFA serves as a resource for current and prospective franchisees and franchisors, the media, and the government. IFA's membership consists of franchisors, franchisees and suppliers.
Discuss briefly the ownership structure of a franchise, how does it differ from sole proprietorships or partnerships?
Franchising offers people - business owners - the opportunity to own, manage and direct their own business within the framework of an established system - or method - of operating a business. The franchisor establishes the brand and the operating system that the franchisees follow to provide products and/or services to their customers. In a franchising system, people are in business for themselves but not by themselves.
What are the advantages and disadvantages of owning an established franchise and/or franchising your existing business?
The advantages and disadvantages of owning a franchise are -
Advantages - proven methods and products, start-up assistance, on-going training and support, collective purchasing power, research and development, easier to obtain financing, affiliation with a well-established "brand", sharing experience and synergy with other franchisees.
Disadvantages - may cost more (fees, royalties, advertising fees), lack of independence and freedom (must follow system), "brand" problems or problems of the whole chain may become your problems, breakdown in relations/trust with franchisor can cause legal problems.
What are the advantages and disadvantages of "franchising your business"?
Advantages - If the business can be systematized (cloned) it can be franchised. This allows the parent company to tap the capital, talent, motivation and hard work of others (franchisees), and bring the business to market faster and on a larger scale than if the company relied on its own financial and human resources. New marketing ideas and innovations can come from franchisees who are highly motivated and "vested" in the success of the business (eg., Egg McMuffin, Drive-Through Concept, Central Reservation System, etc.,)
Disadvantages - The franchisor can't "fire" franchisees if they are not performing the way he wants. Bringing about changes within a franchise system, or correcting problems from under-performing franchisees, may take longer and involve more concensus-building within a franchise network.
READ MORE...
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| Hospitality and Tourism Facts (1)
Number of Visitors: 15.1M
Total Vistor Spending: $5.24B
Number of Hotel Rooms: 26,050 (2)
Hotel Ocupancy: 73.6% (2)
(1) Washington Convention & Tourism Corporation (2006)
(2) DC Office of Research & Analysis (CFO-Revenue Chapter from Budget & Financial Plan)
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