Franchising and Coronavirus: This is not a joke, it’s time to brace for impact, react and recover
CNN Reports: New York bar and restaurant owners could be arrested if they refuse to stop serving customers
This past Saturday, March 14, hundreds of thousands of people hit bars and restaurants in celebration of St. Patrick’s Day. This past Sunday, the same numbers crowded grocery stores. Today, people still hit the streets.
Some, perhaps underestimating the severity of the coronavirus spread. Some, perhaps not caring – choosing to live their best lives. But, ladies and gentlemen, this is no longer a joke. This is the real life, this is not fantasy.
Symptoms range. Donovan Mitchell, one of three NBA players who contracted the novel coronavirus, had no symptoms.
As the confirmed cases in Italy reached nearly 28,000 as of 7:13 p.m. CST on March 16 (according to this tracker), the United States inched closer to 5,000. Death totals continued to climb, too, with the US a far cry less than Italy (2,158) at 85. Local and state governments have scrambled to figure out the best course of action for preventing additional spread.
The franchise industry, as a whole, hasn’t seemed nervous about the virus itself, but rather the economic impact the country and world would face after the virus gets under control – a timeframe unknown, as President Donald Trump declares that virus measures could push into August.
While unknowns continue to surmount, two realities do exist. One, this is real. Two, eventually, just like every other crisis, there will be an end.
Franchise brands must begin to thing in three stages. Now, the coming weeks and the future. Each part will carry weight in regards to the results of the decisions. With an ending in sight, no matter when, it is important for brands to think long-term, listen to local and state governments, and figure out the best pathway forward for their brands. And, to remember, that you are not alone in the pains of this challenge – every person and brand is facing the same thing.
1851 will continue to cover the coronavirus and the impact to franchising. This week, 1851 will be co-hosting a special Franchise Community Webinar on the Coronavirus and Franchise. Register here: https://mbf6e734.clickfunnels.com/webinar-registration1584137477175