Franchise Sectors Primed for Post-Lockdown Growth
Much attention has been paid to large companies that have thrived throughout the COVID-19 pandemic and the Great Lockdown. A few tech and eCommerce...
COVID-19 is here for the foreseeable future, and people across the country are adjusting to the new normal. While the future remains uncertain, there are some signs of economic recovery on the horizon. Many experts believe we’ve bottomed out and are poised for a rebound. Per the Department of Labor, unemployment claims are finally starting to dip. Your community has likely begun its first phase of reopening. What does this mean for small business owners?
If you’re among the majority of US small business owners forced to close, you’re probably eager to get back to work, even if it’s not in your usual capacity. It’s critical to reopen safely and responsibly.
Staying on top of local, state and federal guidelines and recommendations can be confusing and time-consuming. Multi-unit business owners in the franchise space are probably very aware of this by now, especially if units are in different areas. Reopenings have been extremely localized.
The International Franchise Association (IFA) has a helpful franchise reopening blueprint, which our own CEO Geoff Seiber contributed to. The US Chamber of Commerce has a state-by-state tool that is frequently updated. Many cities and counties have supplementary guidelines of their own. Staying current with your local, state and federal guidelines is essential for your business and your community’s health.
Many experts believe we are in the management stage of the crisis, which means normal life is beginning to resume despite no vaccine in the immediate future. Per Forrester Research, this will be a test of companies’ abilities to distinguish themselves with customers, employees, suppliers, and investors. Timing is critical.
Pay attention to what your competitors and neighboring businesses are doing. This might not be the best time to lead the pack; it might be best to let other companies reopen first, depending on the coronavirus outlook in your community. If you’re looking to be a trailblazer, you might want to focus on the safety of your customers and employees. CDC recommendations for small businesses include the following:
Every business is different, and every commercial space has its own unique considerations. Introducing new safety procedures will not only protect the health of your employees and customers. It will also increase their trust in your company.
If your business is on the service side of the economy, there’s a good chance you’re on the rebound. There’s also a good chance you won’t be able to bring your employees back at full capacity in the foreseeable future. There are several major considerations to keep in mind with post-lockdown staffing.
COVID-19 has forced all of us to rethink our daily lives, including how we do business. This is true of both companies and customers. Consumer trust is more important than ever, it and will likely impact your bottom line. By providing your employees and customers with the safest environment possible, you’re not only making a smart business decision. You’re doing the right thing.
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