PETE LINDSEY Consultant Nikita Hair USA
TOM MONAGHAN Chief Development Officer Philly Pretzel Factory
Segment: Salon operations, retail Units: 150+ Locations: Norway and 3 U.S. states
Segment: Food, snack/meal replacement Units: 175 Locations: 19 states
WHAT ARE YOU DOING DIFFERENTLY WITH YOUR FRANCHISE DEVELOPMENT PROGRAM AS A RESULT OF COVID-19? We have pulled back most of our franchise marketing. We don't really have consumer marketing going on right now.
WHAT ARE YOU DOING DIFFERENTLY WITH YOUR FRANCHISE DEVELOPMENT PROGRAM AS A RESULT OF COVID-19? We stopped all franchise development-related marketing expenses.
WHAT ARE YOUR PLANS FOR THE NEXT 60 DAYS (APRIL & MAY)? We will continue to do limited advertising for franchise sales as we feel we are well-positioned coming out of the virus.
WHAT ARE YOUR PLANS FOR THE NEXT 60 DAYS (APRIL & MAY)? To handle all leads almost as normal. Plus we added a weekly brand update webinar for all candidates to provide them with insight to all we are doing to support existing owners. We also are working to upgrade our franchise development website.
WHAT ARE YOUR PLANS FOR THE FOLLOWING 90 DAYS (JUNE, JULY, AUGUST)? We will try to build out two of our stores as the situation offers. We will continue to conduct franchise sales. HAVE YOU MADE MAJOR CHANGES TO YOUR FRANCHISEE RECRUITMENT PROGRAM OR SALES PROCESS? We are building out a sales process and believe that due diligence will not change, so our process will not be altered. We are weighting funding plans more up front in our process to make sure funding will not be a problem. HAVE YOU MADE ANY CHANGES TO THE ROLES OR DUTIES OF YOUR TEAM? No changes to my role in franchise sales. We have furloughed non-essential personnel and cut down on the number of portals we are advertising on. We’re still getting content out there for our franchise sales.
WHAT ARE YOUR PLANS FOR THE FOLLOWING 90 DAYS (JUNE, JULY, AUGUST)? Crank ever y thing back up, including the franchise development marketing and staff. HAVE YOU MADE MAJOR CHANGES TO YOUR FRANCHISEE RECRUITMENT PROGRAM OR SALES PROCESS? The only real change is a virtual meet the team day, versus in person. HAVE YOU MADE ANY CHANGES TO THE ROLES OR DUTIES OF YOUR TEAM? Yes, we furloughed virtually everyone on the home office team. Therefore, as CDO I am handling all candidates.
FRANCHISEUpdate
ISSUE 2, 2020
81
