Last week we met with a panel of franchise experts to get their views and insights on how businesses are recovering from COVID-19. During this 45-minute webinar, they also discussed the benefits of being part of a franchise during this challenging time.
The panel included John Rotche, founder & CEO and Mike Skitzki, operating partner, both of Franworth, a franchise consulting firm; Meg Roberts, CEO and president of The Lash Lounge; and Troy Rainsberg, CEO of Garage Kings. The webinar was hosted by Thryv’s Matthew Gourgeot, head of corporate and business development.
The panel took a hard look at where businesses are now and how they can position themselves for future growth. John Rotche summed it up:
I’m incredibly optimistic with respect to franchising. Sadly, I think a lot of stand-alone independent businesses may or may not weather the storm. However, those in the franchise system, to be able to have the support of their home office, gives them a leg-up advantage.
New Processes Adapted in a Wink
The Lash Lounge team quickly adapted to the new normal by offering stylist training virtually. Although there was some initial resistance to taking such an artistic process online, the idea quickly gained momentum.
“We’ve discovered not only can we do it, but we can make it more accessible to more people,” Meg Roberts says. That fast pivot by the home office turned to the franchises, who could quickly adopted the process. “It provides our employees better opportunities, another reason to stay employed and opportunity for advancement, and it’s a win-win for everybody.”
To learn the tactics from all the panel members, watch the webinar below: