What does the R Rate have in common with franchising?

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When you hear of the R Word, do you think of?

  • Covid
  • Redundancy experienced
  • Recreation needed
  • Resilience shown

I think all these words are interlinked because they express situations that all of us may have found ourselves in – because of the pandemic.

Of course, we worry about the R Rate – and yet we know that infections are dropping which gives us cause for hope, supported by the tremendous rollout of the vaccine programme.

We know there have been redundancies – yet not so many as were feared – and there are many people seeking a new direction.

As we come out of lockdown, we are all desperate for some recreation and some lighthearted normality. It will refresh us and give us energy to go forward after a grueling – physically and mentally – period.

And, finally, resilience is the word that I want to focus on because it describes the great capacity of human beings to ride through difficulty.

There have been many businesses affected by circumstances since February 2020. Some have seen an opportunity and been able to ‘pivot’, a word that is less used now, to develop their business and respond to market demand in a different way and be successful.

There are others that have set up a business without even realising there was a marketplace until the pandemic occurred and finally there have been others – in indoor hospitality, personal services, services within the home, gyms and children’s education that have not been able to trade at all and have had to “get by”.

With much support from the government businesses that have not been able to trade have managed to survive, in the main, but now need to repair their balance sheet and adjust their whole way of doing business. It may some time before they may  look at franchising – whereas there are other business that can really use this period to move ahead with franchisees actively seeking opportunities.

What we are suggesting is that franchising produces an opportunity for businesses to flourish, and for people who have been made redundant to rekindle their economic life.

During the last 15 months we have been amazed to have been able to continue to provide consultancy at a very good pace … helping new companies to franchise. Those that have been able to trade through the pandemic have foreseen the opportunity for growth by franchising and the way in which it will help them to expand without necessarily having to take on, in these less predictable times, more staff, premises, vehicles and so on.

Resilience means that we find ways to survive and indeed prosper even in the face of the greatest adversity. Franchising forms part of that process of resilience and will remain a vital part of the economy, and a growing part going forward.

If you have a business that has been well established and has proven its ability to be flexible, survive and make money then why not look at how franchising can help you to take it further and faster than you previously thought possible?

It costs far less to franchise a business than it does to put an employee and a vehicle on the road for a year, or to open a new location for example.

So, lets relax, enjoy some recreation in the next few sunny weekends and then turn to business and franchising!

© Nick Williams, Ashtons Franchise Consulting

This article was published on whichfranchise.com

Interested in franchising your business? A good place to start is our Franchise My Business pages.

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