When it comes to franchises and the Coronavirus, facts matter.
And since the Coronavirus outbreak is growing by the hour, it’s important for all of us in franchising to get the latest Coronavirus updates, as it’s a potentially dangerous virus, and it’s affecting the franchise industry as we speak.
Live Updates For The Franchising Community On The Coronavirus
Look to this section of the page for Coronavirus updates as they relate to the world of franchising.
Check out these interesting retail trends from Google.
Here are the requirements and opportunities for franchise businesses needing financial assistance with a loan from the SBA.
Small Business Loan information for businesses affected by Coronavirus shutdowns.
Jim Blasingame, who hosts The Small Business Advocate radio show, recently asked me to share how the Coronavirus is impacting the franchise industry. You can listen to the 2-part interview below.
The UPS Store in your local area is open for your shipping needs. That’s because it’s been deemed to be an essential business.
Small Business Support Data
7-Eleven Wants To Add 20,000 Jobs
Subway to provide temporary royalty relief for franchisees
McDonald’s Goes into Drive-Thru And Delivery Mode
Below: Live Updates From The CDC
Franchises And The Coronavirus Outbreak: Effects
“Small and medium-sized businesses (SMEs) that are the heart and soul of this country are the ones that are going to be the hardest hit. Even when things improve, they’re walking a very thin line here.” More
– Hitendra Chaturvedi, Supply Chain Management Expert
For example, if you’re a franchisor, and you provide PC’s to your franchisees, research firm Canalys says that the volume of PCs that will ship globally this year could drop by at least a 3.3% and maybe as high as 9%. That’s a lot. And there’s going to be a price increase if that happens. Who’s going to pay for it?
What if you’re a would-be franchise owner, you’re getting close to buying a franchise, and you’re ready to book a trip to visit franchise headquarters for a Discovery Day? Are you going to postpone it if things start to get out of hand?
Question: if you’re a franchisor, are you going to start to cut back on employee travel?
Now, before we panic, let’s make sure we totally understand how the coronovirus spreads.
New! Stay informed by visiting Coronavirus.gov
From The CDC:
The virus is thought to spread mainly from person-to-person.
Between people who are in close contact with one another (within about 6 feet).
Through respiratory droplets produced when an infected person coughs or sneezes.
These droplets can land in the mouths or noses of people who are nearby or possibly be inhaled into the lungs.
Additionally, according to the CDC, it may be spread if you touch infested surfaces etc.
It may be possible that a person can get COVID-19 by touching a surface or object that has the virus on it and then touching their own mouth, nose, or possibly their eyes, but this is not thought to be the main way the virus spreads.
One more thing:
People are thought to be most contagious when they are most symptomatic
Some spread might be possible before people show symptoms; there have been reports of this occurring with this new coronavirus, but this is not thought to be the main way the virus spreads.
A gentle tip from The Franchise King®:
Do not buy a franchise until you know EXACTLY how to do thorough research.
Learn how here
I found this interesting article written by someone who actually had the Coronavirus.
Now that you have some of the facts, let’s see what we can do to minimize exposure and keep franchise businesses up and running-and safe.
More Information on The Coronavirus
Here are some important links to factual articles that will help franchisors, franchisees, and franchise suppliers prepare for more cases of Coronavirus.
Jeff Bodenstab (from SCORE) just wrote this excellent article on preparedness.
If you are a franchisor or franchisee in the food industry, you really need to stay in the know. Read this article from Restaurant Business Online now.
Prediction: Commercial Cleaning franchises are going to be hard-pressed to deliver the services they provide, as more and more franchise businesses and other small businesses will be reaching out for their services.
Just In: Interim Guidance for Businesses and Employers to Plan and Respond to Coronavirus Disease 2019
Have you ever heard of “social distancing?” (I haven’t)
Well, all of a sudden it’s a thing. Better read this.
This next preventive measure is obvious. I think.
“Wash your hands often with soap and water for at least 20 seconds, especially after going to the bathroom; before eating; and after blowing your nose, coughing, or sneezing.” Do these things too.
Finally, if you need to stay home for several days, here’s a list of things you need to have around to sustain you during that time.
As I said at the beginning of this post, as of this writing, the Coronavirus outbreak (pandemic) is growing by the hour. No one knows how long it’s going to affect the U.S. and the world.
That’s why it’s crucial for you to bookmark the links below; they include up-to-the-minute updates on all aspects of the Coronavirus.
Finally, let’s all of us in franchising take a deep breath.
We can handle this.
The Coronavirus mainly spreads from person-to-person when an infected person coughs or sneezes, producing droplets that can land in the mouths or noses of people nearby.
You need to wash your hands for at least 20 seconds and/or use alcohol-based hand sanitizer. In addition, you need to clean and disinfect areas of your home or office that you frequently touch.
It’s a conscious effort on someone’s part to maintain a distance of at least 3 feet from a person who who is coughing or sneezing.
Mainly people who have underlying health conditions like lung disease, heart disease and/or diabetes.
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