Tag: Resource

If you Have to Make Layoffs, Furloughs, or Close a Unit

By Greg Cory

Panelists discussed the legal implication of layoffs, furloughs, and closures from both legal and communications standpoints. Bruce Millman of Littler Mendelson discuss the differences between layoffs and furloughs, and the business effects due to the discontinuation of the employment relationship. The panelists discussed issues arising due to WARN Act considerations for businesses, as well as the internal and external communications strategies and processes for dealing with employment uncertainty, and laying off employees.

How Do I Deem My Brand as an “Essential” Business?

By Greg Cory

IFA and supplier leaders discussed the regulatory and communications components of deeming your business an “essential” business in light of local and state-mandated business closures. IFA’s Jeff Hanscom outlined the CISA guidance on Essential Businesses, which follows DHS guidelines, and the categories of essential businesses. The panelists then discussed various efforts on behalf of industries that supplement these “essential” businesses to maintain their operations. The panelists also discussed best practices to manage employee and customer response to continue business operations and how to navigate their health and safety.

Fitness and Health Industry in Times of Coronavirus

By Greg Cory

In the “Fitness and Health Industry in Times of Coronavirus” webinar, member leaders from Athletic Republic and Planet Fitness discussed the effects of COVID-19 on the fitness and gym space, franchisor-franchisee relations, and steps taken now and after the pandemic ends to communicate and retain members, and retain the customer experience. The panelists outlined the health and sanitation guidelines and differences for open versus closed locations, and emphasized important cost control strategies that they as franchisors are taking and recommending to guide and support franchisees through the economic turbulence.

Supply Chain & International Trade

By Greg Cory

IFA Members from Polsinelli and the Spice & Tea Exchange discussed the implications of COVID-19 on the global supply chain, provided an update on imports, exports, and trade into and out of the United States, and briefed participants on insurance provisions related to the pandemic. The panelists went into detail on supply chain interruptions and possible avenues for relief via domestic secondary vendors. While the panelists noted trade and import/export reductions, they noted that the U.S. Trade Representative has published new tariff exclusions on certain important goods. Finally, the panelists discussed business insurance coverage.

Crisis and Reputation Management in Times of Coronavirus

By Greg Cory

In the “Crisis and Reputation Management in Times of Coronavirus”, public relations professionals discussed communications best practices for franchisors and franchisees as they navigate COVID-19-related uncertainty. The panelists discussed the “before, during, and after” phases of crisis communications and planning, and underscored the need for strong corporate culture as a lynchpin to guide current and future action. In particular, the panelists discussed the need for strategic clarity amid rushed decision-making, to take stock of process improvement, and to lay the groundwork for business re-openings with acts of empathy and goodwill during moments of crisis.

Leading Through Change: Crisis Management and Building Your Brand at the Same Time

By Greg Cory

Former IFA leadership offered historical perspectives on times of crisis to chart a course through this period of COVID-19-related instability. The panelists stressed the need for positive culture aligned on common values of trust, open communication, and mutual support between franchisor and franchisee. The panelists also detailed the need for self-less leadership that puts the needs and priorities of others first, for relentless communication with stakeholders, and for empathy to those affected by the ongoing public health crisis.

Commercial Cleaning and Safety During the Pandemic

By Greg Cory

IFA franchisor member Jani-King provided important perspectives from a janitorial and cleaning company as they confront increased demand for cleaning and disinfecting services due to the spread of COVID-19. The panelists outlined in detail the different approaches to cleaning and disinfecting to promote health and safety for franchisor companies, franchisees, and customers. The panelists also underscored the need to pay close attention to national, state, and local mandates and court orders about essential and non-essential business operations and restrictions.

What Coronavirus Means for Franchise Brands

By Greg Cory

In the “What Coronavirus Means for Franchise Brands” webinar, IFA Immediate Past Chair David Barr, John Teza, and IFA Vice Chair Charlie Chase discussed their approaches as franchisors while they deal with scaling down operations, cash flow, brands health, and planning for the near term due to COVID-19. The panelists urged franchisors to carefully plan for the short-term realities and to remain nimble to respond to the needs of customers and consumers. The panelists recommended a planning framework that emphasized education, collaboration, and communication over and above how franchise brands would normally train and talk to their franchise systems and teams.

Cash Flow Management & Credit Access During the Pandemic

By Greg Cory

ProfitMastery CEO Steve LeFever guided this webinar on the details of developing and enacting a concrete financial action plan for franchisors and franchisees alike, who are under stress from COVID-19-related cash flow and credit access strains. LeFever stressed the need for every business to undergo a balance sheet assessment of their solvency/working capital, liquidity, and leverage/risk to determine business health and create an ongoing financial report card. LeFever also provided step-by-step instructions for businesses to determine the now-critical cash flow burn rate, and guidance on how to lengthen businesses’ cash runway in times of financial stress.

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