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Growing A Business in a Downturn


In challenging times it is even more evident whether a business model is strong and can survive any bumps that land in its path.

What is good about an economic ‘downturn’ is that the businesses that really shouldn’t have been doing well, start to falter and fall from the radar. It may be a little nasty to say, but, especially in the United Kingdom, there have been way too many businesses out there who have been ‘creaming’ consumers and living off the rewards of high prices, rogue business behaviour and slack service. Granted, the UK consumer is notorious for being complacently loyal to brands and businesses because they can’t be bothered to complain or question the value-to-price ratio....but that just simply won’t do anymore in an economic downturn. Consumers become more savvy and particular about where they spend their money, especially when every £ counts.

This is fantastic news to all of those businesses who have been delivering value for money consistently over the years to their clients. The proactive business owners will finally see some reward for sticking to their guns on acting respectfully and keeping within best practice principles.

Franchising is a model that relies on the strength and resilience of small business. For franchisors, it represents a way of growing their business in a less capital intensive way, and also engaging motivated partners in helping them push their business to the next level. It doesn’t take much looking at the figures and facts to see why franchising thrives in an economic downturn.

For franchisees, the franchise model provides the much needed umbrella of security and less risk in (a) starting up a business and (b) surviving the economic bumps and turns. This is why people who are made redundant tend to investigate the option of buying a franchise to create something for themselves.

Empathetic, progressive and intelligent franchisors will step up any support they can offer to franchisees, especially when ‘doom and gloom’ is all that is spread in the media. Franchisors can be instrumental in levelling out the uncertainty and managing their franchise networks through rough times.

If you haven’t thought about how franchising can be used to affordably grow your business in challenging times, you are missing out. The opportunities are boundless and it is the growth route of choice for business owners looking to grow in a downturn.

Copyright © 2009 Shelley Pearson.
Reprints are welcome, as long as the by-line and article are published in tact and all links made live.

 

About the Author

Shelley Pearson, formerly an independent franchise consultant, created the Expert Franchise Guide business after identifying a serious lack of a provision of franchise business guidance products to small and medium sized business owners. She has developed her products in order to solve one of these business owners’ biggest operational obstacles: access to decisive, experienced and cost effective franchise business guidance. She is now an information marketer and has managed to attract both professional affiliations and clients who recognise and value her business acumen matched with a practical and empathetic approach.

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