FRANCHISE ENTREPRENEUR TO LEAD INTERNATIONAL ASSOCIATION |
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Contact: Amy Bannon or Terry Hill
202-628-8000
WASHINGTON, D.C., March 9 - Dick Rennick, founder and CEO American Leak Detection, today became chairman of the International Franchise Association during the group's 45th annual convention underway in Hollywood, Fla. IFA is the world's oldest and largest organization representing franchisors, franchisees and suppliers.
Rennick helped revolutionize the leak-detection industry by developing high-tech, non-invasive equipment to find water, sewer, oil and air leaks electronically without damaging property. Founded in 1974, American Leak Detection is headquartered in Palm Springs, Calif. and has more than 150 offices in the United States and nearly a dozen foreign countries.
Rennick, honored as the association's 1997 Entrepreneur of the Year, has served on IFA's board of directors since 1999. He was the driving force behind the group's successful "Taste of Franchising," which has become a popular annual-convention event, and founded the Franchise Emergency Action Team, a disaster-assistance mobilization effort. Active in community services, the company sponsors a series of scholarships for students who have been removed from conventional high schools due to behavioral problems.
Rennick was chairman of the IFA Educational Foundation in 2004 when it commissioned PricewaterhouseCoopers to perform a comprehensive study measuring jobs, payroll, and economic output generated by the country's franchising sector. The "Economic Impact of Franchised Businesses" study found that the franchising sector generates one-out-of-every-seven jobs in America and produces $1.53 trillion in U.S. economic output.
