Coronavirus and Franchising: Brenda Febbo of Lightbridge Academy and Michael Wagner of Pool Scouts

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 Brenda Febbo, Chief Marketing Officer for Lightbridge Academy*, and Michael Wagner, President of Pool Scouts*, about how the franchising industry is responding to the crisis.

Here are some of the key insights from their discussion.

Looking Past the Crisis 

How people are responding to this pandemic depends on their unique circumstances, and there is no one way that brands have reacted. That makes looking to the industry for guidance difficult. Brands should envision what business will look like on the other side of this crisis. 

There will be tremendous opportunities for brands that are actively engaging with their consumers during this period. It’s not about having a transactional relationship. It’s about a value-added relationship. Those businesses that successfully add value on a human level will be left standing. 

Caring for Employees  

Franchisors need to be flexible with their franchisees, listen to them and continue to provide quality service. Brands need to care for employees across the system and provide them with protective equipment when applicable. 

Franchisors need to institute regular messaging with franchisees that includes listening to franchisee feedback and requests. Brands can hold town hall meetings to debrief franchisees and listen to their ideas and concerns.

Keeping Customers in Mind

Franchisors must think about how best to continue their relationships with existing customers and also how to build relationships with new ones. Even if those relationships don’t immediately translate to robust revenue streams, they will pay off when this crisis is behind us. 

Leveraging Leadership 

Everyone is affected by this issue. This is an opportunity to lead, pour positivity into the situation and support the most vulnerable among us. It’s important to focus on what’s needed and how people can be helped. When brands focus on the needs of their stakeholders, they are focusing on the long-term viability of their businesses. Being a leader is not just about reveling in the good times, it’s also about finding solutions in the bad times. Leaders do not get the option of tapping out at this difficult time. Franchisees are relying on franchisors more than ever.

Celebrating Successes

Brands should make sure to continue celebrating successes, such as when franchisees get several new customers or a positive online review. There are incredible examples of people giving back right now, and those moments should be shared and underlined. 

Attracting Tomorrow’s Franchisees

Prospective franchisees are watching. They will want to know how brands are navigating this crisis and how they are helping their franchisees. Leadership needs to demonstrate that they care about franchisees and truly walk the walk. Something as simple as texting franchisees can go a long way in maintaining those long-term relationships. Part of this story will be how franchisors honored their relationships with franchisees. 

Providing the Right Environment

Brands must keep business viable now in order to bring people back later. Give franchisees the tools for success. 

The company culture should encourage franchisees to feel comfortable being vulnerable and asking for help. This is why having a good culture from the beginning is important. Brands cannot just come up with core values right now. If you were not doing the right things to begin with, it will be hard to pivot to a good place.