As a retail-related business publishing company that has been in operation for more than 35-years, we have experienced several downturns and ‘market adjustments’ over the years and we are somewhat accustomed to people reaching out for business opportunities.
Unlike these previous economic declines, this Covid-19-driven recession has resulted in the unexpected closures of total retail categories, even malls. And with these sudden government requested closures comes sudden job-losses. Some retail and restaurant categories have made temporary adjustments to survive but now, after weeks of shut down, it is obvious that many won’t reopen and other will not be able to survive a slow recovery. Estimates have suggested that Canadian unemployment could reach well into the double-digit percentages, but in the retail/restaurant community, the numbers may be much higher.
More than ever before, those experienced retail and restaurant veterans are looking for opportunities in the categories that they know.
As we have noted in our twice-weekly Developers & Chains business publication that focuses on the growth and expansion opportunities in these industries, requests for information on franchise companies is commonplace. And with this sudden non-essential closures and slow recovery, the demand for information has exploded………….so much so that we have introduced D&C’s Franchise Dept. For the foreseeable future, the Franchise Dept will also be presenting information on some of the franchise companies that are ready to do business.
Wayne Paterson
Editor/Publisher
Paterson Communications
