Since the pandemic hit in March, we’ve had some difficult conversations with franchise owners. In particular, restaurant franchise owners who have really been struggling. We’re Guiding Franchise Owners Through the Pandemic.
Things have improved for them, but nowhere near back to where they need to be. Some might be back up to 50% seating capacity, and some have taken advantage of outdoor seating, if available.
What happens when winter comes, especially in the northern parts of the country, and outdoor seating isn’t an option? These franchise owners are asking what they can do if things don’t improve.
We continue to look into helping franchise owners navigate through these difficult times by focusing on the cost of goods and maybe selling some of their higher-margin items, for instance.
Helping Franchise Owners in Uncertain Times
It’s disheartening when you’ve worked so hard to build your business, and now circumstances beyond your control have led to an unsure future.
Our team of consultants at Crescent Franchise Solutions can help you navigate through the challenges. We work with franchises as small as one location to those with hundreds of sites. We will identify what you need to reach desired goals by reviewing and assessing your current situation. Our team will also monitor your franchise and personal goals to help you navigate the tough times.
If you’re looking to move on from your franchise, we can help you develop an exit strategy and address the emotional, financial, family, tax, and legal issues inherent in franchise succession. We will discuss options available to you, guiding you in making an informed decision that best meets your needs.
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