TL;DR
Lauren Moorman of 1851 Franchise wrote a blog piece for the International Franchise Association with steps for franchisors to support franchisees during the Coronavirus crisis. The piece advises franchisors to educate franchisees about loan options, continue marketing, and provide realty support.
In a blog piece for the International Franchise Association published Wednesday, 1851 Franchise’s Lauren Moorman laid out eight crucial steps for franchisors to take in order to support their franchisees during the Coronavirus crisis.
“Naturally, many of the most vulnerable franchise systems will be looking to mitigate [their] losses by scaling back spending and imposing new austerity measures for franchisees. This is a mistake,” Moorman councils before detailing positive actions franchisors should take, including:
Educate Franchisees About Their Loan Options
Continue Marketing to New Franchisees
Provide Realty Support
Finally, Moorman advises franchisors to look to the future.
“No one knows what the franchise landscape is going to look like on the other side of this crisis, but right now your franchisees may just be looking for some reassurance that there is a future in franchising. Fill them in on your plans. Show them your marketing and growth strategies. Remind them that they joined your system because you are prepared to weather these storms.”
In this story
This story was originally published in 1851 Franchise on March 25, 2020. Burnaze summarizes and links to the original reporting.
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