Resources

A strong franchise model is built to last. As is the case with all businesses, storms will come along, but they can be weathered when the organizational structure is rock-solid and everybody in the company is unified in purpose.

The importance of those vital qualities is magnified in essential businesses and how well they serve the public in challenging times, such as during this economic downturn for the nation. The value of such businesses grows when people know they can count on those services and products at a time they most need them.  

Steve Griffey, the CEO of Salons by JC, a salon suite concept that empowers stylists with a business and space of their own, is giving back to his system in profound ways as a response to the COVID-19 pandemic.

On June 5, 2020 President Trump signed into law several critical fixes to the forgiveness terms of the Paycheck Protection Program (PPP), providing much needed relief for small business borrowers. While this is good news for loan recipients, it’s important to keep in mind these five key points for maximizing PPP loan forgiveness: 

1.     Keep Good Records

A coalition of groups representing hundreds of thousands of employers today filed a motion to intervene in State of New York, et al, v. Scalia, a lawsuit where certain state attorneys general are seeking to overturn the U.S. Department of Labor’s newly-enacted joint employer rule.

In Bedford, TX, Phil Adkins, a franchise owner of Shipley Do-Nuts, has been devoting time and resources toward his employees during the unprecedented COVID-19 pandemic. As part of his franchise business’s relief efforts, Adkins is giving back to his employees by ensuring that they have increased paid time-off for personal or family illness.

FirstLight Home Care of Omaha Owner Sends Hugs, Love, Prayers to Those in Senior Living Communities

FirstLight Home Care of Omaha owner Jaye Firmature McCoy recently donated $100 each to several Omaha-area senior living communities in the hopes of raising the spirits of those who might be struggling with fear, sadness and isolation. 

If investing in a franchise has been on your mind for a while, just consider what a great opportunity you have to own an essential business right now.

Many people who join franchise systems are drawn to the fact that you own your own business, but you are not alone in the venture. You have the franchisor and support staff on your side as you launch your business and confront challenges.

2020 has brought plenty of challenges, but it also has revealed some interesting information for franchise investors: