/  Franchise Business   /  Unusual Crisis: It’s Time to Determine Your Goals

Unusual Crisis: It’s Time to Determine Your Goals

The global COVID-19 pandemic has had a significant impact on both the economy and public health. From the most affluent to the least advanced countries, the pandemic has spread worldwide, and officials are battling to save lives. This has affected not only people’s daily lives but also the global economy and employment. Many large businesses have elected to shut down completely, while others have decided to fire their workforce. A select few people are fortunate enough to work from home with reduced income. People in this chaotic scenario are concerned about both their personal safety and their capacity to make ends meet. The current situation makes staying at home necessary in the lack of a vaccination, which has a significant impact on daily living. In such a situation, there will undoubtedly be a struggle on both the physical and cognitive levels while also taking sustainability into account.

Employment and COVID-19

Fixed term employment contracts in India - iPleaders

The global outlook for jobs and economics has been significantly altered by COVID-19. While many people struggle to find balance in their sluggish enterprises, others have lost their employment. Currently, working at home is the sole alternative that is practical, but is it practical for everyone? In actuality, remote working is useless because it cannot be applied to a wide range of job types. As a result, the majority of people receive pay for a set period of time while the others suffer from unemployment. There is still no estimated timeframe for when the outbreak will end or when everything will return to normal. After the lockdown phase, the economy has experienced a significant shock, and its effects will be felt in the future.

Business Options and Covid-19


Many people have realised that their jobs are secure in their sectors as a result of the outbreak. It may not appear to be a good idea right now or in difficult times to work just one job. Future events of this nature are conceivable, and our current predicament has been disastrous. Being one’s own boss or having a variety of skills to draw on are both highly valued. Take advantage of the time during these tough times to learn everything you can about competing firms and how they’re handling the pandemic. Which sectors are closed and which are active? Which sectors want to keep paying their staff while others prefer to lay them off? Some industries had to change their strategies in order to survive the present while still being able to make money and meet demand. You must obtain these inputs in order to proceed with the next step. Set goals and consider any options that could provide you a new beginning.

Franchises are on the Rise

Speed of spreading epidemics is predicted using analytical ...

Many people might think that now is a bad time to get involved and that doing so won’t assist when the market declines. The industry has altered attitudes, but there are still demands—they may be different. You must recognise those. Franchises are a fantastic alternative to think about for many people because failing to invest will only make the already weak national economy worse. Perhaps it would be more cost-effective to analyse the market and assist in locating the demand areas than it was during more stable periods. It will be advantageous to be able to move around easily now. It can be a solo or group effort and is a viable choice to think about for a sustainable society. It is entirely acceptable to choose not to invest in the sectors that are now in demand as long as you have done your homework and have a plan of action in place; after things have improved, you can work on it aggressively. () When the global job landscape is rapidly changing, franchising allows you the chance to remain resilient and add value as a superb long-term choice. It offers you the chance to start by making a leveraged investment in a well-known brand.

In the End

With careful franchise location planning, an industry with a demonstrated demand, and your own focused planning, there is room for development even while the globe struggles to contain the epidemic. You can easily succeed in a variety of endeavours, such as meeting a rising need in your community, landing your ideal job, or giving others a professional path. Study the information carefully and you will see the possibilities in these tough times, when individuals are willing to invest in sustainable solutions and jump to a safe harbour. Because of their low loan rates—possibly the lowest in decades—banks are also in good standing. This is a chance to hang onto the possibilities that are available and make the most of them. Your efforts might increase the industry’s revenue flow, which would then benefit the economy. The times may seem trying, but instead of lamenting, make the most of it, verify your information, and go forward with your plans for a sustainable society.

An engineer by qualification, Gaurav started his career in sales and marketing due to his affinity towards networking with people. After learning the tips and tricks of the trade, he made a fresh start as an entrepreneur in the franchising industry back in early 2018, with a vision to bring order and transparency to an unorganized sector. He founded and spearheaded Frankart Global Private Limited, where he consulted, developed, and scaled more than 120 domestic and international brands all over India ranging from different industries such as food & beverage, beauty & wellness, and FMCG retail to name a few. Post-Covid, in mid-2021, he developed FranDocX, India’s first ready-to-use franchise documentation service portal, for the MSME entrepreneurs who were severely affected by the pandemic, and wanted to avail an affordable franchise solution service. His aim is to regularize ethical business practices in the franchising sector so that a greater number of investors can participate and avail the benefits of a structured franchise framework.

You cannot copy content of this page