New Rules From the Fed for Gift Cards
As a result of the new Gift Card rules contained in the new financial regulatory bill, expect a negative impact upon franchisee income.
The money on your gift card will be good for at least five years from the date the card is purchased. Any money that might be added to the card at a later date must also be good for at least five years. - Federal Reserve
Heretofore, gift cards that weren't redeemed ( in some cases after 1 year) contributed significant income to many retailers and restauranters. I've yet to see much franchise related press on the subject, although the new regulations represent significant changes.
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About Ed Teixeira
Public Profile
Ed Teixeira is the founder and owner of FranchiseKnowHow, which publishes articles and provides advice for prospective and existing franchisees and franchisors. His most recent publication is The Franchise Buyers Manual, a comprehensive guide for prospective franchisees. Ed has worked in the franchise industry for over thirty years. He was a franchisee and has served as a corporate executive for firms in the retail, manufacturing, healthcare and technology industries. Over the course of his career Ed has been involved with over 1,000 franchise locations and has transacted international licensing in Europe, Asia and South America. His articles and interviews have appeared in numerous publications and media. He has spoken before various groups including: the International Franchise Association, the International Franchise Expo and the Chinese Franchise Association in Shanghai, China. He has participated in the CEO Magazine Roundtable Meetings with business leaders from around the country. He just published Home Care Franchise Industry Update 2012.
Area of Interest
Franchise Consultant
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