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!




6 comments:

  1. This is a great piece of writing that brings forth innovative ideas and thoughts. What makes it unique is the simplistic way of writing and presenting the idea that keeps the reader engaged.
    Resto-Bar Franchise

    ReplyDelete
  2. I must confess that the writer has put in a lot of effort to bring together the best points. The article doesn’t seem to be lengthy; rather, it is highly engaging and leaves you buzzing with a wiliness to read more.
    Raasta Franchise.

    ReplyDelete
  3. If you have been looking for an article that highlights the proper use of the resources for your success, then you must read this blog. It covers all the aspects and makes the reading very much engaging.
    Premium Brands Franchise in India

    ReplyDelete
  4. I am surely going to come back to this page. The writer has made a genuine effort to bring together all the points. If you, too, are looking for a good read, you must visit this page.
    Mamas Buoi Franchise

    ReplyDelete
  5. I want to congratulate this website for updating the content regulalry. This is my second visit, and I will be coming back again to read some interesting info.
    WE Qutub Restaurant Franchise in Delhi

    ReplyDelete