IMPACT OF PANDEMIC ON BUSINESS IN VARIOUS FRANCHISE SECTORS

The COVID-19 pandemic has triggered a deep economic crisis where fundamental changes will take place in how people, businesses, and economies function in India. The franchising community in India has never experienced a crisis like this. The immediate effects are apparent with the shutdown of the salon, pre-schools, K12 schools, food outlets, retail shops and others.

Some franchise chains, such as those in travel and tourism, retail, food and beverages, are likely to witness a lost demand that is largely irrevocable. However, with economic adversities, new industries and opportunities have emerged bringing with it a renewed hope of recovery.Businesses offering door-step banking, telemedicine, online doctor consultation, online retail, online education and others will largely witness a positive impact.The impact of COVID-19 on franchising business would vary depending on the overall impact on the sectors.