Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Franchisee Comeback Plan

How you are preparing to help franchisees make a big comeback once the lockdown ends? We work with over 100 franchise brands and this gives us a unique perspective on how to help franchisees do a comeback. Using these ideas, you can overcome the hardships brought forth by the COVID-19 pandemic.

  • Be the first to comment

  • Be the first to like this

Franchisee Comeback Plan

  1. 1. FRANCHISEE COMEBACK PLAN for franchisors and franchisees C O V I D -1 9
  2. 2. GET READY WEATHER THE STORM FINANCIALLY PIVOT TO THE NEW OPERATING ENVIRONMENT KEEP EMPLOYEES AND CUSTOMERS SAFE BOUNCE BACK RAPIDLY VIA SALES AND MARKETING FOR YOUR FRANCHISEE COMEBACK OBJECTIVES
  3. 3. F R A N C H I S E B L A S T OKR ESSENTIALS O KR I The OBJECTIVE is your goal which aligns everyone in simple terms KEY RESULTS is how you measure your success, which you cannot control 100% INITIATIVES are activities trying to achieve objectives, which you can control 100%
  4. 4. F R A N C H I S E B L A S T COMEBACK PLAN Maintain a debt-to-equity ratio of less than 0.75.3 WEATHER THE STORM FINANCIALLY O B J E C T I V E : Maintain 12 months of runway financially.1 Achieve EBITDA no worse than -20% of sales.2 1. Develop cashflow model with three scenarios (optimistic, pessimistic, realistic) 2. Perform weekly cashflow review 3. Apply for government relief (loans/grants) 4. Negotiate relief with landlord, suppliers and lenders 5. Negotiate with bank to assist with cash flow by increasing the line of credit 6. Develop strategy for worst case scenario (equity investment from a new partner, divestment to multi-unit operator or shutdown) K E Y R E S U LT S I N I T I AT I V E S
  5. 5. F R A N C H I S E B L A S T COMEBACK PLAN Keep COGS under 33% of sales3 PIVOT TO THE NEW OPERATING ENVIRONMENT O B J E C T I V E : All employees have completed the franchisor’s new training course 1 Keep labor costs under 33% of sales2 1. Attend franchisor webinars / watch franchisor videos 2. Implement franchisor’s new workflows to be aligned with the new environment 3. Define new work schedules based on cashflow scenarios (reduced hours/ staff, etc.) 4. Define reduced product offering to minimize inventory carry 5. Update product availability across all online platforms 6. Consider grocery staples and produce baskets additions to meet supplier minimums 7. Perform daily sales/inventory reviews and compare to cash flow models to be more efficient on inventory ordering K E Y R E S U LT S I N I T I AT I V E S
  6. 6. F R A N C H I S E B L A S T COMEBACK PLAN All employees have completed all new COVID-19 training material 2 KEEP EMPLOYEES AND CUSTOMERS SAFE O B J E C T I V E : No employees or customers are contaminated at your workplace 1 1. Install new recommended signage / protective barriers / sanitizing sta- tions 2. Train staff on new COVID-19 procedures (cleaning, disinfecting, social dis- tancing, recognizing symptoms, etc.) 3. Perform check-ins with staff to ensure they feel safe at work 4. Monitor your franchisor’s communications daily to stay abreast of best practices 5. Communicate with local health to learn about local regulations which apply 6. Self-assessment is filled out daily in FranchiseBlast K E Y R E S U LT S I N I T I AT I V E S
  7. 7. F R A N C H I S E B L A S T COMEBACK PLAN Receive 250 new downloads of our app3 BOUNCE BACK RAPIDLY VIA SALES AND MARKETING O B J E C T I V E : Achieve 250 marketing campaign conversions1 Add 250 new customers to our loyalty mailing list2 1. Review tone and messaging of the franchisor’s proposed marketing cam- paigns 2. Perform a marketing campaign on social media 3. Perform a direct mail campaign 4. Perform a PR campaign; contact 3 local media outlets to pitch them the story 5. Perform an email blast campaign to loyalty/app members 6. Perform weekly marketing ROI analysis and course correct if needed 7. Perform one community engagement campaign K E Y R E S U LT S I N I T I AT I V E S Increase average transaction size to $204
  8. 8. F R A N C H I S E B L A S T notes I N TH E M I D D LE O F D I FF I C U LT Y LI E S O PP O R T U N IT Y
  9. 9. B U S I N E S S PL A N S S E LF -AS S E S S M E NT S Add Objectives, Key Results and Initiatives collaboratively and have franchisees check-in regularly to their Comeback plan. A checklist that franchisees can do on-site, to remind people what is most important right now. F R A N C H I S E B L A S T tools & resources FranchiseBlast provides mobile apps for over 100 franchise brands around the world.
  10. 10. Thank you for downloading our Comeback Plan. You can see the plan in action above. If you want to automate the Comeback Plan for your franchise contact us at info@franchiseblast.com! Seeing is Believing

×