Quality franchise brands have the depth and experience at head office to help their franchisees navigate the current covid 19 crisis and emerge successfully as the economy gears back up.
Published by Steven Beaglemen in Forbes. Apr 28, 2020
How franchisors can help lead their teams through this unprecedented crisis.
The franchise industry is undoubtedly facing a situation unlike anything it has seen before. The COVID-19 crisis has caused brands across nearly every industry to temporarily close their doors or rethink their operations, putting franchisors in a position where they need to act fast in order to provide the necessary support. Now more than ever, franchisors must show true leadership for their franchisees and team members so that they can respond, recover and thrive.
Communication is Key
While no one knows how or when the global economy will bounce back from the fallout following the Coronavirus crisis, businesses and franchises can all agree that communication is essential.Today In: Franchises
In order to ensure that franchisees are confident in the plan and future of the company, franchisors need to communicate effectively and provide ongoing support when it comes to operations, procedures, best practices, reopening plans and more. By creating an open dialogue with franchisees, leadership teams can better answer any and all questions and offer concrete solutions based on the health standards set by the CDC.
To achieve this, many franchisors are rolling out new initiatives to enhance the level of communication throughout their network. In addition to the usual franchise support, brands are adding more conference calls, webinars and regular video town hall meetings as well as more frequent one-on-one conversations to keep franchisees in the loop. Since the situation is changing rapidly, especially as certain states start to reopen, franchisees need to receive up-to-date information on available resources, whether it is financing options, the SBA CARES Act which includes the PPP and other loans, vendor partnerships or potential rent deferment.