Eric Parker of Franchising Plus, one of franchising’s stalwarts and a founder member of the Franchise Association with over 40 years of franchising experience gives his perspective and advice on how to handle the crisis we are facing.
“It has now become evident that 2020 will be a difficult year! For you, your family and friends, your country and the world at large. We believe the best way to get through this is to focus on the 1st of January 2021 and set up plans to get through 2020. Life normally gives you lemons along the way, and you need to overcome them and if possible, turn them into lemonade.”
Never before have you, your family and friends and the country all been given two lemons, that’s the same and applicable to all of us.
- The fear of contracting Covid-19
- The fear of economic implications that lockdown, at various stages will bring to us. Will I keep my business going? Will I keep my job? Will my earnings be reduced? etc.
The good news is that you are not alone, we are all in this together, so we have to pull together to overcome these difficult times.
So what are the steps that we need to take?
- Be prudent and save as much as possible. Cut your expenses to a minimum and don’t commit to big capital expenditure. The lockdown should have saved you money on expenses such as petrol and tolls, etc.
- Expect the possibility that your earnings could be reduced as companies battle to stay afloat, some of us may have to face retrenchment as the worst possible scenario.
- You will probably need to take a loan or delve into your ‘access bond’ if you have one.
- We need to create a spirit of helping each other i.e. help your family and friends and staff first and if you have money left over you can donate to the Solidarity Fund or other relief funds (note that businesses qualify for tax relief if they make donations to the Solidarity Fund).
- Obey all the rules and do all you can to ensure you don’t get or transmit the virus.
- Lastly, stay positive and try and convey a positive message to all around you, get up in the morning, shower and prepare as if you are going to work. Work from home if you can, or at the worst, plan for the time when the lockdown ends. Keep in touch with family and friends, they also get lonely and would welcome hearing from you with words of encouragement. This can become a support Group.
In conclusion we will overcome this; ‘Alles sal regkom’; we will emerge from this stronger with a new perspective on life!
Perhaps things happen for the best and our lives will never be the same again. I have, over the lockdown period spoken to a number of brands to help formulate their plans.
If you would like to discuss your business continuity plans, please contact me on email@example.com
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- Why belong to the Franchise Association of South Africa - 14th October 2020