When the first distancing measures were announced by the provincial government, the entire restaurant industry was affected and was forced to review its ways of doing things. Let's see how the franchise sector was more specifically affected.
Indeed, the franchisors first had to help the franchisees to put in place safety and hygiene rules. Currently, they must take on financial and moral responsibilities in the face of franchisees. Finally, they must plan to relaunch the activities.
Franchisees can always count on the parent company of their brand for backstage work with governments, the development of new products and various local and national marketing campaigns.
Currently, since revenues are non-existent, or reduced significantly due to the complete closure of their dining room, franchisees must rely on franchisors, who are ultimately responsible for paying rents, taxes and related fees towards shopping centers, among others.
In this regard, not all aid measures from all levels of government will be sufficient.
Thus, certain franchisees will simply not be able to resume their activities when the government proceeds to complete deconfinement, which creates additional pressure on the franchisor in order to find a new operator.
But in order to properly prepare for this recovery and plunge into a period of growth, franchisors must make sure to implement positive marketing campaigns now, internal communication policies and to see all the opportunities and innovation possible.
Finally, as it is clear that some franchisees will not be able to survive the pandemic, franchisors must get to work without delay in order to find new partners.
Because the crisis will undoubtedly bring great opportunities for future investors!
