“Starting a business is always risky, and perhaps never has it been more fraught with peril than during these rocky and still uncertain economic times brought on by Covid-19.”
Chris Buitron describes in this article a number of factors to consider when buying a franchise during the pandemic. In summary these are: Focusing on essential businesses, getting to know the processes behind the franchise, researching how the franchisor has handled the pandemic so far, and knowing your own limits and comfort levels.
These are all very important things to consider, as buying a business at this time can come with increased risk & considerations. Supply disruption is also a major factor, as well as labor and consumer demand as the pandemic declines. If you need help researching which businesses survived and thrived through this time, we can certainly assist. We do comparisons of businesses on the market to current franchises, and can advise on both.
Let us at AMRA Franchise Consulting know if we can assist you today!
Original article by: Chris Buitron