Thursday, December 3, 2020

AS THE WORLD TURNS

 It has been a while since I last posted. In fact, it was at the outset of the pandemic, that post was COVID-19 - Captain Obvious! The theme of that post was that franchise systems - franchisors and franchisees - need to cooperate to survive the pandemic. So how is it going?

One of my favorite law professors, who, after 40 years, I still stay in touch with, passed on this article from the Wall Street Journal: The Franchise Relationship That Powers Small Business Is Fraying. You can draw your own conclusion as to whether the headline is accurate... but everyone has to admit that all businesses are under strain at this time and, franchised businesses, are no exception. 

In my practice, I have seen a few potential buyers decide that "the time just isn't right." Perhaps, a solid decision. And, I am aware of a number of franchisor clients who have struggled through the worst of it and developed strategies to survive. My guess is that the restaurant business is most effected. You can share your experiences by commenting on this post. (Please use the normal comment button at the bottom of the post as the image below is just a picture)

Changing topics, I came across another Wall Street Journal article that caught my eye -- Big companies urge Biden, Congress to address climate change

How is this relevant to franchising? Well, like the virus, I believe ALL businesses should seriously work on Climate Change matters. What can you do in your system? While we contemplate what 2021 may bring, think about Climate Change -- waste reduction and recycling-sponsored sites come to mind. Is it time for a call to action in your organization?

I hope your business is striving or at least surviving in this time of challenge. Take some time to consider the contributions you can make to improve our future. It is truly a time for reflection.

Wishing all a happy and healthy holiday season!




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