Franchisee Response to Coronavirus – First Steps & Planning
By Greg Cory
IFA Franchisee leaders Tamra Kennedy and Tom Baber provided valuable insight into COVID-19 response operations from a franchisee perspective during the “Franchisee Response to Coronavirus – First Steps & Planning” webinar. The panelists stressed the need for good communication within your franchise system, among franchisees, and between employer and employee. The panelists also underscored the franchisee-specific resources IFA would provide in coming days, as well as strategies to cope with liquidity stress and decreased revenue that franchisees are facing amid this public health crisis. IFA lobbyist Suzanne Beall updated participants on legislative strategy ahead of the “Phase 3” stimulus bill being negotiated in Congress, and IFA supplier member Justin Klein offered his guidance on how to ready an action plan with knowledge and resources gained from the provisions of franchise, lease, and development agreements.