Market Overview

Franchise Exhibitors At International Expo To Benefit From NYC's High Traffic Potential And Status As World's Media Capital


Now on its second year in New York, the 23rd International Franchise Expo (IFE), sponsored by the International Franchise Association, will allow exhibitors to generate better leads from the city’s high traffic potential and multibillion-dollar media landscape when it opens its doors at the Jacob Javits convention Center on June 19.

The Jacob Javits Convention Center is a stone throw’s away from major establishments and buildings in New York City, particularly those housing the offices of global media empires and enterprise savvy citizens. The city is also home to over eight million residents, data from the New York City Planning Department showed. 

Media outlets exhibiting at the event include The Wall Street Journal, USA Today, and Entreneur Media, Inc., among many. These companies will also be covering the event allowing participating businesses an opportunity for media coverage.

Organizers of the expoare expecting this year’s attendees to exceed last year’s head count of 19,000, according to a Globe Newswire news release.  

IFE was traditionally held in Washington, D.C. for the past 20 years prior to moving to New York. According to a 2012 report on Blue Mau Mau, a website catering news to franchise owners, the expo’s organizers moved the event from the nation’s capital to New York City after seeing a decline in franchise prospects and attendees.

"We've had a difficult time," expo president Tom Portesy told Blue Mau Mau. He also added that the 2009 financial crunch only complicated things further. "A lot of franchisors pulled back a great deal on purchasing lead generation and expansion because of the difficulty of access to capital."

Portesy and his team at MFV Expositions, IFE’s producer, eyed New York to remedy the situation. "Every year the International Franchise Expo is responsible for the opening of hundreds of small businesses and creating thousands of jobs – and there's no better place for that to take center stage than New York," Portesy said in the same article. "Small business growth will be a significant factor in our economic recovery and we know New York City is the place to lead the charge."

NYC lived up to its name. IFE noted in a press release that last year that over 30 percent of attendees intended to invest between $100,000 and $499,999. “Whether a single unit, area developer, or multi-unit buyer, expo visitors were well educated, engaged and serious about taking the next step,” IFE added.

One company that is extremely excited to be part of the NY expo is Soupman, Inc.(OTCQB: SOUP), parent company of The Original Soupman brand of soups.  "The past year has been an exciting time for our brand, with new initiatives and partners coming on board to enhance our franchise experience," said Lloyd Sugarman, CEO of The Original Soupman, of the opportunity.

"We look forward to showcasing our brand's flexible footprint, superior menu and experienced support team to IFE attendees.” The Original Soupman is participating in the event to offer its SoupMobile and Al’s Famous New York Delicatessen franchise models to entrepreneurs attending the event.

The expo will run from June 19 to June 21, 2014. Globe Newswire reported that the U.S. Department of Commerce endorses and promotes it globally under its International Buyers Program initiative. Over 150 U.S. Embassies through their foreign channels are actively drawing investors worldwide to the expo including official escorted delegations.    

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.


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