Strong franchisor/franchisee relationships are key to surviving the current crisis. As the pandemic progresses, franchisors are working closely with their franchisees to adapt to market changes – from hosting daily calls to providing information about ever-changing guidelines and new strategies to cope.
The focus during the pandemic has been less on trends and more on concrete ways to help franchisees stay open and survive the crisis. There is greater pressure on franchisors to up the level of communication and engagement with franchisees to ensure that as a group they weather the storm together and come out relatively unscathed and stronger for having worked together. As one franchisor stated; “We’re all this together. It is in all our interests – as franchisors, franchisees and suppliers – to work together for our ultimate survival.”
From a franchisee point of view, belonging to a franchise group that has a strong Franchisee Advisory Council will also help in getting the necessary support not only from head office in securing payment relief or in finding new income streams but being able to network with fellow franchisees on how they are coping during these difficult times.
The very nature of franchising as a collaborative business structure lies at the core of franchising business success and the Covid-19 pandemic will most definitely put this format to the test. The old adage in franchising that you cannot have a successful franchisor without successful franchisees will sort the wheat from the chaff and it will be those franchise companies that work together to fight and overcome the challenge that will come out stronger post-Covid.
Putting yourself out there with the Sunday Times Franchising feature
Whilst handling the immediate crisis of the pandemic must take centre stage in steering a franchise brand through these turbulent waters, planning for recovery must also be top of mind. Those brands who are quick off the mark to reassure consumers that they have weathered the storm and are fully equipped to pick up the pieces, re-define and re-invent their offerings to embrace the new economy, will be the ones to benefit the most.
To this end, FASA has joined forces with the Sunday Times to once again publish their popular Franchising Feature that will reflect on how the industry has contributed to the South African economy over the past fifty years, examine why franchises are better equipped to succeed in trying times and what plans individual franchise brands have as they re-group to tackle the future post-Covid-19.
The Sunday Times is offering franchise brands the opportunity to showcase their resilience and forward thinking strategies in a unique Franchising feature which will appear in the Sunday Times on the 27th September – for more information contact firstname.lastname@example.org.
You are invited to be part of the 2020 edition of the Sunday Times Franchising supplement.Sunday Times Franchising will be distributed to 20 000 Sunday Times subscribers and will be available for view on Business Media Mag
For pricing info click here and for more info on participation options please contact Roman Ross on 073 253 9440 or email on email@example.com