Sustaining your Franchise in challenging times

Newsletter Ask The Experts

 

This is an extremely testing and a challenging time for many franchise businesses. It has not been business as usual for the past few months and unfortunately some franchises have had it worse than others. Many conversations that have and are still taking place are focussed on how tough things are.

It has meant delayed spending by clients, contracts have been put on hold, delayed payments and not forgetting the overall wait and see attitude, which unfortunately does not pay the bills. The challenge for all businesses has been how to stay afloat and keep people in their jobs. We do not have control over these circumstances but we do have control over what we choose to do about it and how we think.

Be aware of negativity and that nobody has ever succeeded by talking about how bad things are. Be deliberate to block out negative information and conscious of positive engagement and information. Focus on maintaining a positive mind-set and remember what your WHY is.

This is a time to be creative, to move out of your comfort zone and change things around. It has been proven time and again that adversity creates opportunity. It may be to change, amend or package your product or service or even find new markets.

Use this time to work on those things that have always been pending because you are too busy like processes and structures. It may be tempting to put these activities on hold until business picks up and there is more money, however not having these things in place may be the reason why you are losing business.

Be sensible when it comes to spending and managing expenses within your business. Tighten the loopholes and always keep a close eye on them even when things improve.

Go back to the reason why you do what you do, where you are going and remain convicted to what you are doing even when things are tough.

Stay Safe! Stay Positive!

Remember to visit www.safranchisebrands.co.za for Franchise Opportunities.

Comments are closed.