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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 <a href="https://www.franchiselawsolutions.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=a-conversation-with-natalie-perkins-and-beth-barlas-of-bella-ballerina-2712867" target="_blank" rel="nofollow">Internicola Law Firm</a>, are covering the coronavirus and its impact on businesses through our <a href="https://mbf6e734.clickfunnels.com/webinar-registration1584137477175?utm_source=1851franchise.com&utm_medium=article&utm_campaign=a-conversation-with-natalie-perkins-and-beth-barlas-of-bella-ballerina-2712867" target="_blank" rel="nofollow">A Conversation With webinar series.</a>In today’s afternoon webinar, Powills and Internicola spoke with Natalie Perkins, CEO of <a href="https://www.bellaballerina.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=a-conversation-with-natalie-perkins-and-beth-barlas-of-bella-ballerina-2712867" target="_blank" rel="nofollow">Bella Ballerina</a>, and Beth Barlas, franchise owner of Bella Ballerina, about how franchisors and franchisees can learn from the COVID-19 crisis.&nbsp;Here are some of the key insights from their discussion.<h4>Adapting While Staying True to the Business</h4>While physical locations are closed, it is important that brands fill in the gaps in any way possible to make sure their offering stays compelling for customers. For example, Bella Ballerina was able to transition into a virtual environment fairly easily and has been working to ensure the value proposition is amped up with new classes and events.&nbsp;Many brands are moving out of their lane to try to create new streams of revenue, but as a business owner, it may be more valuable to focus on what the business does best and tweak&nbsp; that model. More than ever, brands need to know their core purpose.&nbsp;While it may be difficult, franchisors need to make confident decisions right now to be able to bring certainty to customers and team members. It is important that franchisees have an answer to give customers and staff when new questions arise.&nbsp;The working parent is certainly struggling during this crisis. How businesses can support these parents and families is becoming a huge differentiator. For example, Bella Ballerina is working hard to do everything they can to make virtual classes as engaging as possible to keep kids paying attention so parents can work.&nbsp;<h4>The Value of the Franchise Network</h4>Good franchisors are viewing their franchisees as stakeholders in the brand. The alignment between franchisor and franchisee is more essential than ever. This strong relationship is what allows brands to pivot their business quickly when new issues arise.&nbsp;Every franchisee wants to know that their franchisor will still care about them after signing the agreement. Ongoing support is key to ensuring that franchisees are proud to be a part of the brand and are confident in their future.&nbsp;Franchisors should only make decisions that benefit the entire franchise network. Often, franchise brands are only able to offer their high-level of services because of their large footprint and established network of franchise partners.<h4>Franchise Development</h4>Brands that survive this crisis will be able to use the experience as a new value proposition. While nothing is guaranteed, businesses will now have a lot more data to show prospective owners in terms of how the company can weather a crisis.&nbsp;Moving forward, everyone is going to have an equal seat at the table. In the future, prospective franchisee candidates are going to be looking for brands that work closely with their team and value their opinion.&nbsp;This crisis is allowing brands to show their true colors and allowing potential buyers to develop a deeper understanding of what they want in a business opportunity.

A Conversation With: Natalie Perkins and Beth Barlas of Bella Ballerina

1851 Franchise

Nick Powills and Charles Internicola are joined by CEO of Bella Ballerina, Natalie Perkins, and Bella Ballerina franchise owner, Beth Barlas, to discuss how the franchise brand is dealing with the COVID-19 crisis.

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CapitalSpring

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CapitalSpring Closes on Initial $505 Million of $1 Billion Target just Two Months After the Launch of its Seventh Flagship Investment Fund 

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Children's Lighthouse

How Families Are Building Brighter Futures Together With Children’s Lighthouse

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One Hour Heating and Air Conditioning

One Hour Heating & Air Conditioning Franchise - Paul and Will Harris - 1851 Franchise

Keeping the Crystal Coast Comfortable: How a Father-Son Duo Brought One Hour HVAC to Their Community

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Caring Transitions

Caring Transitions: A Recession-Resistant Franchise Opportunity for Entrepreneurs

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Minuteman Press International

L-R: Bob Titus (CEO), Eric Shank (Catonsville, MD), Bob Heimbuch (RVP), and Nick Titus (President).

Minuteman Press Franchise Owner Eric Shank Recognized at World Expo

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