The Small Business Administration shared its final guidance around the Paycheck Protection Program and financial institutions are reeling. But operators should get in line.
While the uncertainty is weighing on franchisees—“everyone is wanting to know when they’ll be able to reopen”—Mayweather Boxing CEO James Williams said there’s also opportunity to market memberships and even help franchisees in the sold-but-not-open stage find more attractive real estate.
Walk-On’s, the Cajun-themed sports bar and restaurant franchise partly owned by New Orleans Saints Quarterback Drew Brees, has gone all in on family-style meals after each of its 37 locations closed their expansive dining rooms due to the COVID-19 pandemic.
Homecare franchises are on the front lines of the COVID-19 battle, and are seeing growth rather than shutdown. "We're hiring across the nation," said Best Life Brands' chief revenue and operating officer.
The franchisee association is suing Edible Arrangements and its founder, Tariq Farid, alleging "self-dealing" and improper use of the advertising fund among other complaints. Now they're adding retaliation to the list.
Triage pods in the parking lots are among the innovations rolled out at five AFC Urgent Care clinics in Portland, Oregon, where owner Guru Sankar is trying to relieve an overburdened hospital and ER system while at the same time keeping his clinics' doors open.
Today is a big mile marker in the COVID-19 pandemic—it’s the first time many business owners had to decide exactly what they were going to do about the rent bill.
For brands with franchisees operating in regions around the world, they’re planning for what’s next—even as situations during the COVID-19 pandemic are sometimes wildly different from market to market.
If timing is everything, consider Sky Zone's first foray into the world of non-traditional locations as a case of the bad.
"If it looks like you're overreacting, you're probably doing the right thing." That's a quote from Dr. Anthony Fauci, the nation's point medical man on the pandemic, that Kevin Wilson, CEO of Buzz Franchise Brands, takes to heart. But he also advised playing offense, on a webinar sponsored by FranConnect.
A Taco John’s franchisee is offering free meals to elderly citizens, a Junk King franchisee has partnered with a local food bank to deliver meals to seniors stuck at home, and Assisted Living Locators has partnered with Love For The Elderly, a nonprofit organization that mails handwritten letters to seniors.
Several franchise registration states are making adjustments to filing deadlines and are updating other guidelines for renewals and applications in an effort to assist franchisors experiencing a severe disruption to their business.
Yum CEO David Gibbs joins other CEOs and business leaders in foregoing a salary as businesses around the world struggle to combat COVID-19.
Options for beleaguered restaurants owners are mobilizing quickly. Here is what you need to know. The CARES Act, recently passed by Congress and signed by President Trump on March 27, allows the Small Business Administration to guaranty $349 billion in loans to small businesses that have been impacted economically by the COVID-19 virus.
Like their counterparts in the restaurant segment, fitness franchises have had to close their doors following various state mandates to slow the spread of the COVID-19 virus and, much like restaurants, they’re pushing their business model online. Perhaps better prepared for this shift thanks to the rise in at-home fitness classes, brands are rolling out virtual workouts and giving many people—FT’s editorial team included—a much-needed outlet as the lockdown continues.
With support from celebrity chef Guy Fieri, the National Restaurant Association Educational Foundation created a Restaurant Employee Relief Fund that will provide one-time $500 checks to restaurant workers.
If your restaurant is keeping the lights on amid the coronavirus pandemic, status-quo business plans no longer apply. Two experts in the off-premises space are recommending operators make critical changes immediately to get through this crisis, while also setting their restaurants up for success when normalcy finally returns to the dining room.
If your local gym isn’t closed due to COVID-19 already, it likely will be soon. TruFusion, an everything-in-one studio backed by athletes such as Russell Wilson and Alex Rodriguez, decided to offer online classes for members ranging from bootcamp to yoga to Pilates.
A major COVID-19 relief bill approved by the Senate has been signed into law.
Franchises are—or should be—in the third wave of crisis communication, said Lorne Fisher, CEO of Fish Consulting. “It’s how do we re-engage with customers” and keep the brand relevant “even if you’re not open." Fisher and other industry professionals in PR and brand marketing offered tips for franchises as they navigate effects of the COVID-19 pandemic.