CD One Price Cleaners, a high volume dry cleaner in the Chicagoland area, is always looking for ways to invest in the communities they serve, and that desire only grew during the start of the COVID-19 pandemic. Working with their franchisees, they knew that they wanted to help as many people as they could, especially healthcare workers and first responders. They were able to offer all healthcare workers and first responders 20 lbs of free wash and fold laundry each week through the initial shutdown phases.
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Small Business Jobs Index Increases Slightly Driven by Gains in the Northeast and the Construction Industry
The report by Paychex and IHS Markit showed a 0.06 percent uptick in national job growth
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At the start of the pandemic, when businesses were shutting down to comply with forced closures and the country was grappling with the spread of COVID-19, small business franchise owners stepped up to support the needs of their local communities. Clarke Williams, proud owner of a Jimmy John’s franchise located in the heart of Washington, D.C., was heartened by the quick response from local officials and vowed to offer his support.
A "How To" for Franchises to Handle Property and Casualty Insurance Purchases Over the Next Couple of Quarters
For franchises and other businesses, it's time to dust off your "reduce the risk" hat for a while because insurance rates across the board are going to go up in price. Insurance companies are among the many industries that have had a tough 2020 and the two things that drive rates hit insurers hard this year — claims and capacity. Franchisees and franchisors will have to demonstrate to insurance providers that you are genuinely wanting to have fewer claims and run a tight ship to keep rates manageable.
The best advice that Shake Shack founder Danny Meyer ever received came from his grandfather: “Stop complaining about problems. ‘Problems’ is the definition of business.” Thanks to COVID-19, the definition of “problems” for franchise brands has now been amplified to a previously unimaginable degree.
Franchise business leaders often describe certain industries, such as healthcare, as being “sustainable” during an economic downturn. By “sustainable,” they mean something that possesses staying power. A sustainable business is something that is and remains relevant and necessary.
Business leaders consider healthcare franchises sustainable because there is always a need for good health.