FROM
THE BRITISH FRANCHISE ASSOCIATION
THE UK' S VOLUNTARY S ELF - REGUL ATING GOVERNING BODY FOR FRANCHI SING
PIP WILKINS Chief executive, bfa
It’s no mystery that franchising is shown to be resilient in the face of a crisis, says Pip Wilkins
W
ith the Bank of England forecasting a rapid recovery for the economy, and reports from across the board of an upsurge in recent franchising
activity, we feel positive about the future of franchising in the UK, both in the short and the long term.
Franchising's ability to weather many economical storms Franchising as a sector demonstrates extraordinary resilience under pressure. This much has been proved again and again, when franchises have demonstrated their abilities to weather the storm of a weaker economy. The model, by its very nature, means that franchisees have the benefit of a network of guidance, advice and support, to which independent business owners simply don’t have access. There is no glossing over the fact that this has been an extremely difficult period of trading for many, and for some, trading has simply been impossible during lockdowns and restrictions. We do know, however, that many of our members who have been frozen in stasis up until now, stand ready to come out of the blocks flying, as restrictions ease. For others, where possible, we have seen incredible resourcefulness. Necessity is the mother of invention they say, and
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the people in franchising have invented and reinvented in grand style!
Franchising is pro-active, pivoting, positive We have seen pivoting and creativity like never before, in the way that those within the franchise community have reimagined their business models during this time. Some brands (for example in domiciliary care) have continued to trade throughout COVID, whereas others have completely redesigned their business models. There are so many examples of the franchise community helping each other that it’s hard not to feel extremely proud to be part of it all. From ActionCOACH providing free coaching to Water Babies teaching children to swim in baths via online sessions, the ingenuity and community spirit has been nothing short of inspiring. Franchisees are at the heart of their local
communities, a point highlighted during our recent ‘nationally known but locally owned’ campaign. Franchisees know their customers locally and so are able to respond to their needs and sensitivities whilst building trust and value in their brands. We have seen fundraising activities, NHS support packages and lobbying for local economies, all coming from the grassroots. These activities not only nourish and foster good community bonding, but they build a level of brand loyalty that simply cannot be achieved through traditional advertising.
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