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PAGE 14 THE SOUTHERN ISRAELITE May 2, 1986
James S. Grien has been ap
pointed general counsel for
Stratton Industries Inc. Grien
will report directly to the
chairman and chief executive
officer, Burton M. Gold.
Grien graduated from the
University of Pennsylvania and
received his law degree from the
Columbia University School of
Law. For the past two years, he
has been associated with the
Atlanta law firm of Long, Al
dridge and Norman.
x
northeast, inc.
Office: 496-9600
CPAs evaluate franchise business opportunities
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Briarcliff
Lakeside
Northlake
Henderson
4845 LaVista Road
Glenda Alexander
634-3272
Howard Workman, presi-
of Workman & Company Real
tors was presented the Phoenix
Award by the Atlanta Board of
Realtors, at their annual Mil
lion Dollar Club Dinner.
The Phoenix Award recog
nizes those members who have
personally been responsible for
the sales of real estate in excess
of a million dollars each year
for ten years. Workman has
been a member of the million
dollar club each year since he
joined the organization in
1976. .
He is a board member of the
commercial council of the At
lanta Board of Realtors, and on
the advisory board of Dorey’s
Office Guide.
He is assistant treasurer of
Temple Sinai and on the boards
of Men’s ORT and Jewish Vo
cational Services.
Trust Realty Funding Inc. has
announced the appointments of
Howard Levy as vice president,
Commercial Lending, and Mark
Taylor as director. Commercial
Financing. Levy, previously a vice
president with Equitable Real Es
tate Investment Management, will
direct joint ventures and large
loans through pension funds. Tay
lor, formerly with E.F. Hutton,
will be responsible for commercial
lending and financing of income-
producing property.
rormer Atlanta resident
Michael H. Shure, 28, has been
named general manager of the
new Hotel Villa Florence in San
Francisco.
Previously, he managed stu
dent housing at the University
of California, Los Angeles, the
host residence for athletes par
ticipating in the 1984 Olympics.
He has also been associated
with the La Quinta Hotel, Golf
& Tennis Resort, Palm Springs,
and the Hyatt Hotels Corpo
ration.
A graduate of the University
of Georgia, Shure has been
working in the hotel/restaurant
business since age 12, while he
was a student at the Lovett
School. He is the son of Mr.
and Mrs. Jerome J. Shure of
Atlanta.
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Haya Kaufman of Merrill
Lynch Realty has been elected
to the Atlanta Board of Real
tors million dollar club. She
was also presented the Merrill
Lynch Realty Rising Star
Award for 1985, in recognition
of outstanding sales achieve
ment and service to the public.
Mrs. Kaufman’s sales achieve
ments exceeded $2.4 million in
1985.
Mrs. Kaufman and her hus
band have two sons. They are
members of Congregation B’nai
Torah.
Business and Financial
Business Briefs
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Every day, two or three people
call the Federal Trade Commis
sion in Washington, D.C., to com
plain about a franchise business
opportunity. Some call before sink
ing thousands of dollars into the
business. Others are not as lucky.
According to the Georgia Society
of CP As, people who want to open
a franchise should thoroughly in
vestigate a company and know
some basic facts about franchising
before signing or paying anything.
’’Basically, a franchise is a mar
keting technique,” says William
* * *
Jerusalem Ramada
gets tourism award
The Ramada Renaissance Hotel
in Jerusalem was among those who
received a “Most Distinguished
Promoter of Tourism” award. The
awards were presented by Israel’s
President Chaim Herzog.
The annual awards are given to
establishments in Israel’s tourism
industry to encourage greater par
ticipation in the national effort to
increase tourism to Israel
Kirkman of the American Institute
of CPA’s Small Business Commit
tee. “The ‘franchisor’ supplies a
product or teaches a service to a
‘franchisee’ who sells the product
or service to the public.”
The investor in a franchise re
ceives assistance in locating the
business and comprehensive mar
keting information may be pro
vided on the demographics of a
proposed site or several sites. In
addition the franchisee may also
receive important information on
pricing the product or service to be
sold.
The franchisee gets the benefit of
national name recognition of a
product and should have an easier
time selling a proven concept. In
return, the franchisor receives an
ongoing percentage of gross sales
from the business. Typically, the
percentage is from two to 15 per
cent, depending on the industry.
While the great majority of fran
chisors are well-run and legitimate
businesses that comply with strict
federal standards, a small number
of offerings continue to cause
problems. “Sometimes a new fran
chise comes along and promises a
lot to a prospective investor,” says
CPA Kirkman. “But the franchi
sor sometimes doesn’t follow
through with the quality or the
quantity of training, consulting or
advertising that was promised.
And the requirement that a fran
chisee purchase certain supplies or
raw materials from a franchisor
can also lead to problems on
occasion.”
CPAs recommend that anyone
interested in setting up a fran
chise business carefully review all
the documents that must be made
available by franchisors. A 1979
Federal Trade Commission rule
requires all franchisors to reveal
how many times they’ve been sued
by investors. If the franchisor pro
jects earnings on your investment,
it must substantiate the claims by
telling you how many other fran
chisees have earnings as high as
they project.
The franchisor must disclose its
income statement and statement of
changes in financial position. You
may want to have a CPA review
these documents to assess the fran
chisor’s financial position.
The above information has been
supplied by the Georgia Society of
Certified Public Accountants Inc.