1851

The Coronavirus continues to cause many businesses to hit the pause button, if not altogether cease operations, and brands of all sizes within the franchising industry are strategizing the right moves for survival.&nbsp;To that end, 1851 Franchise publisher Nick Powills and Charles Internicola, founder and partner of the <a href="https://www.franchiselawsolutions.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=coronavirus-and-franchising-webinar-frannet-ceo-jania-bailey-2712639" target="_blank" rel="nofollow">Internicola Law Firm</a>, are covering the Coronavirus and its impact on the franchising industry through a <a href="https://mbf6e734.clickfunnels.com/webinar-registration1584137477175?utm_source=1851franchise.com&utm_medium=article&utm_campaign=coronavirus-and-franchising-webinar-frannet-ceo-jania-bailey-2712639" target="_blank" rel="nofollow">webinar series titled “Coronavirus and Franchising: Mindset + Strategy to Recover and Grow.”</a>In today’s morning webinar, Powills and Internicola spoke with <a href="https://www.linkedin.com/in/janiabailey?utm_source=1851franchise.com&utm_medium=article&utm_campaign=coronavirus-and-franchising-webinar-frannet-ceo-jania-bailey-2712639" target="_blank" rel="nofollow">FranNet CEO Jania Bailey</a>.&nbsp;Here are key insights from their discussion.&nbsp;<h4>Both individual people and brands need to find a balance.&nbsp;&nbsp;</h4>This is a time of great uncertainty and extremes. Brands are either afraid to do anything or of doing too much, so they need to find a balance between the two.&nbsp;As more people work from home, they must ensure their work does not consume them. They must know when to disconnect.&nbsp;People must also learn when to unplug from the news. From stock market crashes to the attacks of 9/11, there are no historical precedents for the Coronavirus crisis. There are growing death reports every day. Individuals must learn when to unplug from the constant negativity.&nbsp;There is a tremendous amount of fear, which is understandable. This is why we must find that balance and not let fear consume us in a way that won’t allow us to take steps to preserve our companies.&nbsp;The franchising industry is not without its vulnerabilities. Some fast food brands, for example, are trying to survive on drive-thru alone, and that’s not an easy path forward. The issues we are facing now are real, and we must stay on top of them while also planning for what to do when this crisis passes.&nbsp;<h4>Brands need to look at their money.&nbsp;</h4>Brands need to understand what cash reserves they have. They must also look at their expenses and decide what are the must-haves and the nice-to-haves and shut off the latter group.Brands must have a realistic view of their financial health and have 30-, 60- and 90-day plans. At this point, no one knows what will happen 90 days from now, so brands need to reassess their plan every 30 days going forward.&nbsp;<h4>Coronavirus and the ensuing crisis will not go away quickly.</h4>Everyone needs to be realistic: this is going to be a long-term problem. As soon as the problem begins to go away, that does not mean we can flip on the lights and go back to normal. Brands must remember they are responsible for employees and have plans laid out for best-case and worst-case scenarios.&nbsp;We are going to lose a lot of businesses, and small businesses will go faster than franchises. Franchisors are currently doing massive outreach to their franchisees and offering relief measures, such as cutting royalties. Individual business owners do not benefit from that kind of support. The franchise industry can celebrate this benefit and know there are some powerful franchisors out there who are doing everything they can to help their franchise systems.&nbsp;<h4>Franchisors can expect a more thorough franchisee validation process.&nbsp;</h4>Prospective franchisees will be even more diligent about reviewing franchise opportunities, which is why brands need to think about franchisee validation. Future prospective franchisees will want to know how the franchisor supported the system during challenging times. If franchisees say the franchisor did nothing, that brand is done. Showing empathy and support to existing franchise owners is going to make all the difference.&nbsp;Brands need to proceed with caution in all things. This is a good time to talk to franchise candidates and consider giving them a break from the discovery process. Let them decide whether to proceed.&nbsp;Many people are working from home now and are online. There is a lot of activity around the franchising industry that will bring in new franchise candidates, but these are not people who will jump in and be done with the discovery process in 90 days. They will be meticulous and take their time.&nbsp;<h4>Some segments will hurt more than others.&nbsp;</h4>Established franchisors will weather this crisis. This situation is more worrying for emerging brands. We’re going to see some weeding out of the weaker organizations. Any brand with cracks in its foundation will have those cracks show up pretty fast right now.&nbsp;Emerging brands should stabilize their cash flow. It’s tough for them to cut royalties. They need to hand-hold their franchisees right now and be on the phone with them and be an empathetic ear. The franchisor should advise them on how to stabilize their cash flow and what they should do, business-wise. Emerging brands should also hold town meetings and get on video-chat platforms like Zoom so franchisees can see them and feel connected.To register for all of this week's Coronavirus and Franchising webinars, <a href="https://mbf6e734.clickfunnels.com/webinar-registration1584137477175?utm_source=1851franchise.com&utm_medium=article&utm_campaign=coronavirus-and-franchising-webinar-frannet-ceo-jania-bailey-2712639" target="_blank" rel="nofollow">click here</a>.

Coronavirus and Franchising Webinar: FranNet CEO Jania Bailey

1851 Franchise

Nick Powills and Charles Internicola are joined by FranNet CEO Jania Bailey to discuss how franchise brands are tackling the challenges of the COVID-19 crisis.

coronavirus-and-franchising-webinar-frannet-ceo-jania-bailey

The Junkluggers

image of Lucy Mejia from Atlanta Georgia junkluggers franchisee owner mom

How This Stay-at-Home Mom Found Her Calling With The Junkluggers Franchise

lucy-mejia-junkluggers-franchise

image of the junkluggers franchise and a list of the top 5 reasons to purchase a junkluggers

Top 5 Reasons To Buy a Junkluggers Franchise in 2026

top-5-reasons-to-buy-a-junkluggers-franchise-2026

image of a junkluggers franchise owner franchisee standing in front of a company truck succesful

Junkluggers Franchisees Win the Fast-Growing, Eco-Focused Junk Removal Market With Mission, Momentum and a “Frictionless” System Built for Scale

the-junkluggers-franchise-opportunity

BIGGBY COFFEE

 BIGGBY® COFFEE Cracks Top 200 on Franchise Times Top 400, Climbing More Than 100 Spots in Four Years

biggby-coffee-cracks-top-200-on-franchise-times-top-400-climbing-more-than-100-spots-in-four-years

KidStrong Franchising, LLC

KidStrong Franchise - Sabrina Du - Steve Do - Tampa - 1851 Franchise

Why a KidStrong Franchise Fits This Family’s Next Chapter

kidstrong-franchise-tampa-steve-do-sabrina-du

Buying a Franchise Masterclass

 Franchise Opportunities

Get Support Buying a Franchise

How to Buy a Franchise White Paper

How to Buy a Franchise

How to Sell Franchises

How to Grow a Franchise

Find a Franchise Supplier

1851 Franchise Opportunities

Franchisor News

Franchisor Power Rankings

FranCamp Mastermind Summit

Franchise Development Website Builder

Franchise Resources

What ALEC-Laffer's Report Means for Franchising

Website Awards

Power Rankings

About 1851

Advertise on 1851

Contact 1851 Editorial

Terms of Use

1851 Login

GROWTH CLUB LOGIN

facebook

instagram

twitter

linkedin

youtube

Design with government building & "Open for Business" sign against American flag backdrop

Government Reopens After 43-Day Shutdown, Bringing Relief to Small Businesses and Franchises

government-shutdown-ends-franchise-impact

As Starbucks and Dunkin’ Navigate a Changing Market, New Coffee Players Keep Gaining Ground

starbucks-dunkin-franchise-coffee-market-trends

Paris Baguette Welcomes Zac Sulma as New Chief Operating Officer

new-coo-zac-sulma

AI-related job cuts, October U.S. job cuts, American job cut record

AI-Fueled Layoffs Reshape the U.S. Job Market — And Highlight Franchising’s Resilience

ai-job-cuts-franchising-path-forward

Crunch Fitness Franchise - Sixth Street Minority Stake - CR Fitness - 1851 Franchise

Sixth Street Takes Minority Stake in CR Fitness, the Largest Crunch Fitness Franchisee

cr-fitness-crunch-fitness-sixth-street-investment

Senior Entrepreneurship - Franchising - 1851 Franchise

Senior Entrepreneurship Is Rising — And Franchising Is a Key Outlet

senior-entrepreneurship-franchising-silver-startups

image of jerome hanway from right at home Las Cruces, New Mexico 1851 franchise franchisee spotlight

Jerome Hanway Is Building His Right at Home Franchise Around His Mission To Serve

right-at-home-franchise-las-cruces-jerome-hanway

A Practical Playbook: Who To Call First When Franchising Your Business

franchising-your-business-who-to-call-first

The Top 15 Pet Supplies and Retail Franchises for 2025

the-top-15-pet-supplies-and-retail-franchises

Veterans In Franchising Thriving As Entrepreneurs, Three Times More Likely To Own A Franchise

veterans-entrepreneurship-franchise-owners

Coronavirus and Franchising Webinar: FranNet CEO Jania Bailey

MORE STORIES LIKE THIS