Coronavirus and Franchising: VIO Med Spa’s Ryan Rao and The Brothers That Just Do Gutters’ Ryan and Ken Parsons

The coronavirus continues to have dire effects on businesses across the country, and the franchise industry is no exception. Franchisors across segments are strategizing new ways to support their franchisees, keep customers satisfied, help local communities and come out stronger on the other side of this crisis.

To that end, 1851 Franchise publisher Nick Powills and Charles Internicola, founder and partner of the Internicola Law Firm, are covering the coronavirus and its impact on the franchising industry through a webinar series titled “Coronavirus and Franchising: Mindset + Strategy to Recover and Grow.”

In today’s morning webinar, Powills and Internicola spoke with VIO Med Spa Vice President of Franchise Development Ryan Rao and The Brothers That Just Do Gutters Co-Founders Ryan and Ken Parsons about how the franchising industry is responding to the crisis.

Franchise industry insights

Here are some of the key insights from their discussion.

Brands should use this time to prioritize projects they previously did not have time for and shift their value propositions to better serve customers during this crisis and after. They must be empathetic to challenges customers are facing and understand where they need to bring business to best serve guests in the future.

Brands also need to make sure they do everything they can to adhere to social distancing rules and maintain safe work environments.

Brands that lack integrity and depth will not survive.

Future of franchising

Industry leaders are learning that the prospective franchisees who start inquiring about opportunities on the other side of this crisis will be different from previous prospects. People who might previously have started an independent business are going to be more attracted to the support and durability of a franchise.

Consumer behaviors may change over the next six, 12 and 24 months. Brands should think about how to continue to create relationships and provide value. There are opportunities to leverage technology and create new content so when doors open again, brands can improve the customer experience with less friction. Brands can also enjoy a larger audience thanks to the content they create and the value they provide to communities.

Opportunities and challenges

The unemployment rate over the last few years has been low. Brands will be able to recruit talent that wasn’t available previously. There will be huge opportunities for staffing up businesses.

No one knows how much longer this situation will last. The biggest threat right now is going out of business, so brands need to understand what they can do today. That way, when there is a reset, franchisees are not going from 1 to 10, it’ll be more like 9 to 10.

The big question is what traffic will look like when business is open again. Brands will need to determine whether there is truly a pent-up demand for their services and decide how to open accordingly. Consumer behaviors are a big question mark.