1851

The consequences of the coronavirus crisis are far-reaching — from the future of social interactions to healthcare protocols that will need to be put in place, it’s likely that communities across the globe will adapt to a new way of life either permanently or long term. The aftermath of COVID-19 will also involve <a href="https://www.forbes.com/sites/brianmenickella/2020/04/08/covid-19-worldwide-the-pandemics-impact-on-the-economy-and-markets/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=why-small-business-owners-will-play-a-critical-role-in-rebuilding-the-economy-2713009#6bb7a77728c3" target="_blank" rel="nofollow">rebuilding the economy</a> as businesses begin reopening their doors.Small business owners, including franchisees, will play a critical role in that process. For the brands that are able to reopen on the other side of the pandemic, there’s an opportunity to come back stronger than when this started. According to Dan Rowe, founder and CEO of franchise development company <a href="http://fransmart.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=why-small-business-owners-will-play-a-critical-role-in-rebuilding-the-economy-2713009" target="_blank" rel="nofollow">Fransmart</a>, franchisors need to work closely with their local owners to position them to be more profitable in the future.“Franchisors should take the opportunity to completely restart their business model,” he said. “Tear it up and restart in a way that ensures that franchisees are making more money. Help your franchisees, employees and managers create higher quality teams. You have that luxury of people who need jobs right now.”Rowe anticipates that it will take a while for entrepreneurs to rebuild their businesses. Until the COVID-19 crisis is more controlled, consumers will be skeptical to return to normal, which is why franchisees need to think about their long-term plans for survival.“I think it will be a slow ramp. When we are finally able to go back to work, we’ll likely see 50% of the normal traffic volume for a number of reasons,” said Rowe. “There will probably only be about half of consumers willing to go back to places they like and trust. However, there will also likely be a third of restaurants unable to reopen, for example, so it will feel like there’s more customers coming in. After the summer, it will gradually build back. I fully expect this time next year to be normal unless another catastrophe hits.”The biggest benefit that franchise brands have on their side when it comes to rebuilding is the fact that franchisees are local business owners. Throughout the COVID-19 crisis, communities have rallied around small businesses, and they’re looking for ways to show their support. By tapping into this heightened demand and consumer spending as it returns, franchisees have the ability to play a key role in generating business.“Small businesses will have a major impact on the economy coming back and growing,” said Seth Holan, manager of franchise development for <a href="https://franchise.wbu.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=why-small-business-owners-will-play-a-critical-role-in-rebuilding-the-economy-2713009" target="_blank" rel="nofollow">Wild Birds Unlimited</a>. “The communities that these small businesses are in are going to want to rally together to support their friends and neighbors. They’ll want to support small businesses and keep them going because that’s what a community relationship is all about.”

Why Small Business Owners Will Play a Critical Role in Rebuilding the Economy 

1851 Franchise

As states begin to reopen and business owners prepare for the return of customers, entrepreneurs are positioned to play an integral role in how the global economy will bounce back following the pandemic.

why-small-business-owners-will-play-a-critical-role-in-rebuilding-the-economy

Caring Transitions

Caring Transitions: A Recession-Resistant Franchise Opportunity for Entrepreneurs

caring-transitions-a-recession-resistant-franchise-opportunity-for-entrepreneurs

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

minuteman-press-franchise-owner-eric-shank-earns-standing-ovation-at-world-expo-for-growth-in-catonsville-md

Melting Pot

Melting Pot Expands Its Flavor Story With Seasonal Menus and Retail Line

seasonal-menu-retail-innovation

Griswold

How Griswold Honors Veterans Through Care, Employment Opportunities and Franchise Ownership

how-griswold-honors-veterans-through-care-employment-opportunities-and-franchise-ownership

Sola Salons

Photo of exterior of Sola Salons location with brick front and blue sign

Why This Former Silicon Valley Engineer Invested in Sola Salons

silicon-valley-engineer-franchisee

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

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

houses, Why Top Franchises of 2025 Outperform Independent Businesses

Why the Top Franchises of 2025 Outperform Independent Businesses

how-franchises-outperform-independent-business-2025-tech-data

Photo of Happinest Brands teams standing together in front of branded vehicles

Happinest Brands Continues Strong 2025 Trajectory With Major Q3 Growth and Strategic Wins

happinest-brands-q3-franchise-growth

Franchise Owners Step Up To Support Communities During Government Shutdown - 1851 Franchise

Franchise Owners Step Up To Support Communities During Government Shutdown

franchise-community-support-shutdown

Slim Chickens Opens R&D Center at World Headquarters To Drive Menu Innovation

slim-chickens-rd-center-fayetteville

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

Why Small Business Owners Will Play a Critical Role in Rebuilding the Economy

MORE STORIES LIKE THIS