Time to develop your brand – that is to say that you want to start moving forward. The countrywide franchise movement continues to take a knock due to the global pandemic that has hit this country really hard. And to think. You thought it was bad for you? Well, it is a lot, lot worse elsewhere. Nevertheless. These days medium-sized franchise operations are now faced with two choices. One; to shut their doors for good.
And two; to keep them open. But how? If only it were as easy as that. Hard choices have to be made. Disgruntled or distressed staff members who are read their riot acts need to fully appreciate that no franchise store owner or franchisor takes such decisions lightly. But it remains a business decision. There is nothing further to be done if there is no new market for the afflicted goods and services. It is pointless keeping a business afloat when funds are just about dried up.
And there is just no way that a lender of last resort if you will could be referred to. Because how to pay the money back. Nevertheless. It does sound like a lot of doom and gloom, does it not. Well, let’s put a stop to this. And let’s try and turn a corner. Try franchise brand development and let’s see where this takes you. Try out a new business model and let’s see where this takes you. Try out a new product line.
But do not, repeat, do not forget the market research. Franchise brand development if it is to be successful, does not come without its effective research and development. There is no thumb suck involved. This is not the lotto. It is the reality. Time to invent a new wheel.