An “earthquake”, a “storm”, even a “volcano” – all words been used to describe the worst case scenarios for the world economy over the next year. Many are also saying these descriptions are far too over-dramatic, that it won’t be nearly as bad as the media are making out, and that government action on energy bills are set to turn things around.
However you look at it, we’re heading into another period of uncertainty, so what are franchisors like FASTSIGNS doing, to help support their network in these uncertain times?
Fortunately, this is far from the first time we’ve had to deal with crises. In fact, coming on the back of the pandemic, we can honestly say we have never been better prepared for the future! We’ve seen it all here at FASTSIGNS over the last 35 years of successful growth – the recessions of the 1990s and late 2000s, COVID-19, countless other changes across all the different countries we operate in.
The biggest lesson we have learnt through all this is to be prepared, which is why we’re going all out to help our franchises get ready for whatever lies ahead. We’ve pulled together advice and guidance from some of our top personnel, as well as a number of outside experts and consultants, to issue our partners with a comprehensive operational guide on how to deal with every eventuality.
The guide is just a springboard for a whole range of initiatives we have ready in the wings, of course, but it does offer an in-depth analysis on a variety of predictions and offers franchisees invaluable insights into how to react to different scenarios. The advice is very wide-ranging, but includes strategies on maintaining cash flow, keeping customers happy, training, investment, and how to find strong, recession-resilient clients.
It’s not all theory, of course – there are also some great practical instructions on how to make a range of strategies work in the real world from tips on increasing sales to effective ways to reduce expenses.
Franchisees can reach out to us at any time if they need further assistance. We’ve always greatly valued the continuing support we offer and we will be putting more emphasis on this than ever before in the coming months. As part of a huge franchise network that spans more than 700 centres in 9 countries, there is also a huge pool of experience and expertise for our partners to draw on in the form of their fellow franchisees.
We will be encouraging even greater collaboration between our centres so that everyone can benefit from the network’s shared knowledge. This collective strength has always played a big role in making FASTSIGNS the global industry leader it is today, and we have every confidence it will put all of us in good stead for the future too – whatever it holds.
FASTSIGNS franchisees may be in business for themselves, but they are never alone!
Of course, one of the biggest factors that should reassure all our partners is:
Great signage will always be in demand
Businesses may be trimming their budgets over the next year, but they will also have to work a lot harder to attract customers, which will mean a greater investment in marketing. New services and products, special offers, more compelling branding… and all of this means more signs! The very unpredictability of the next few months to a year will also mean businesses will need to move quickly to adapt to changes in the market, and the kind of creative flexibility and rapid turnaround that FASTSIGNS franchisees can offer will be of premium value.
For a forward-thinking franchise like FASTSIGNS, which is well-prepared and already at the very cutting-edge of the market, the potential recession also represents a fantastic opportunity for ambitious and hard-working business men and women. It is a chance to build a rewarding business that is both resilient and robust in the face of any challenge. Our experience shows that difficult times like these have always been defining periods for franchising as a successful model for those seeking exciting, new opportunities.
When the going gets tough, you’ll want to part of a franchise that is ready for anything. Contact us today to find out how a FASTSIGNS franchise can help you build the solid future you deserve.