IFA Blog: How Franchisors Can Support Franchisees During the Coronavirus

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.”

Head to franchise.org to read the full article.