Covid -19 has struck the world, in a massive way effecting health and economy in a major way. The pandemic has struck globally ranging from the most developed countries to the developing countries and the authorities are struggling to save lives. This has not only impacted the daily life but has also impacted the employment and finances, globally. Many big companies have opted for complete shut down while others have chosen to lay off their employees. There are few lucky ones who are working from home at compromised pays. In this situation of turmoil, people are worried for their lives as well as a financial stability. The current scenario deems it necessary to stay at home in absence of a vaccine which is majorly affecting the normal way of life. In such a scenario, it is bound to be a physical and more so a cognitive battle and at the same time considering sustainability.
Covid -19 and employment
Covid -19 has drastically changed the outlook of employment and finances across the globe. Many people have lost their jobs, while some struggle to find a balance in their slow operating businesses. Work from home is the only feasible option available right now, but is it feasible to everyone? In reality, remote working cannot be implemented on various work profiles and do not solve the purpose. This leads to most of people getting paid for a designated time and the rest face the wrath of unemployment. The epidemic is rapidly increasing and has currently no timeline as to when can things be back to normal. The major jolt that the economy has suffered should also be borne in mind and its impact in the coming time, post the lockdown phase.
Covid -19 and Business Avenues
The epidemic has generated a mass realization of job security in their respective fields. Having a single job may not seem a viable option now or during times of distress. Such scenarios may remerge in the times to come and the current situation had left a devastating impact on us. Having multiple skills to deploy or the recourse of being your own boss is highly considered. In these trying times, use the time to soak up all the information about the concurrent business and how they are coping up with the pandemic. Which industries are shut and which are functioning? Which sectors are still paying their employees while who are the ones who preferred layoffs. Some industries must have altered their course to survive the time and still be able to generate revenue and satiate the current demands. These are the inputs which you need to derive to make the next move. Identify your goals and glance over options which may provide you a fresh start.
Franchising in Epidemic
Many may wonder that this is a difficult time to invest and investing isn’t going to help as the market it shut. There are still demands, maybe different but the industry has changed perceptions. You need to identify those. Franchising is a good option to consider, because not investing is only going to add up to the already deficient national economy. Analysing the market and help identify the demand areas and maybe it would be cost effective as compared to the stable times. To be able to manoeuvre easily in these times will serve as a boon. It can be a single or joint initiative and can be a good option to consider for a sustainable future. It is perfectly alright to not wanting to invest in the current demand sectors but having your research done and plan of action in the pipeline; you may work on it aggressively once the situation is better. Franchising gives you the opportunity to stand strong in tough times and add as a great long term option when the global employment scenario is rapidly changing. It gives you an opportunity to start with investing into a recognized name and capitalizes through it.
Conclusion
When the world is dealing with the epidemic, by planning a smart franchise location – with an industry that has a proven need, and with pointed planning on your part, there’s much growth to be found. From fulfilling a growing need in your area, to achieving your dream job, to providing careers to others, you can readily find success. Study the facts carefully and you will realize the potential in these trying times, as people are eager to jump to a safe harbour and invest into sustainable options. The banks are also in favourable terms owing to their low loan rates, perhaps the lowest in the decades. This is an opportunity to hold on the available options and turn them into opportunities. Your efforts may pump back revenue flow in the industry and in turn into the economy. The times may appear to be difficult but instead of grieving, utilize this time, get your facts right and take the plunge to fulfil your goals for a sustainable future.
Karan Makan
Technology Engineer and Entrepreneur. Currently working with International Brands and helping them scale their products Globally through different ventures. He owns Multiple Food Brands and is on a continuous spree to acquire many more businesses in the coming years. With over 10 years of experience and strong background in Brand Acquisition, Karan Makan is soon poised to be a Brand in the coming years.
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