As the reality of a post COVID-19 world begins to set-in across the globe, savvy franchise organizations are using this as a teachable moment not only setting themselves up for success down the line, but capitalizing on opportunities in the market place right now; showing future franchisees how a strong corporate leadership team is the key a to thriving business, even though economic uncertainty.
“It’s a great time to test new tactics now that potential audiences are in front of their screens all day”
Sean Kajcienski – COO & CRO Best Life Brands
Kieran McLoone, deputy editor for Global Franchise Magazine, recently sat down with leaders across several franchise verticals including Gold’s Gym, SlapFish, Edible Arrangements, and Neighborly to discuss their strategy, as it relates to expansion and franchise sales during the COVID-19 economic shift.
Key Points:
- A strong uptick in lead demand and lead generation for franchisors in “essential” business sectors is already being seen.
- More favorable tenant-landlord agreements are being put in place for franchisees, lowering the barrier of entry for prospects and allowing more deals to close.
- Pivoting into other business models such as curbside pickup in the QSR industry and Video On-Demand (home guided workouts) in the fitness sector can capture untapped markets. The quick thinking by executive leadership is the key here.
While there are still many unknowns moving forward, the one constant we have seen over and over again is an emphasis on being proactive and putting a strategy in place now rather than reactive, particularly in the areas that generate revenue such as franchise development and marketing.
Kieran McLoone’s full article can be found here:
https://www.globalfranchisemagazine.com/news/franchise-recruitment-in-a-time-of-uncertainty
