2020 Proved The Strength Of Franchising

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The Covid-19 crisis was a relentless challenge for virtually every business, and franchising’s resilience in 2020 showed just how strong the business model can be

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But resilience is not the industry’s only quality; it is reliable, too. Since the onset of the pandemic, the franchise industry has been hard at work providing its partners with new, more robust supports and resources — something independent business owners did not have the opportunity to lean on. Franchisors stood up to the challenge, solving the problems brought on by the pandemic in real time, speaking volumes to the idea of working for a brand. On top of all that, they are answering the questions that are pertinent to any business’s survival: Do I continue to operate? What do I need? Where do I get this? Without a franchisor those questions become a lot tougher to answer.

Great franchisors are staying up to date on local and federal regulations and opportunities for financial relief. They are advocating for support for their franchisees and ensuring PPP loans to have all the tax benefits that were originally promised. And, through increased communication and information sharing, the industry has created a more connected network of franchisees.community.

 

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Calls for conservatives to boycott Amazon and Twitter and Facebook can be harmful to their earnings. 10 to 20% of 74 million Can account for considerable buying power.

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