2021 Will Bring a Boom in New Franchise Development

Evan Goldman, chair of the Franchise & Hospitality practice group at A.Y. Strauss, is quoted by reporter Andrew Foerch in the January 4, 2021 issue of San Fernando Valley Business Journal in his article “Corporate Strength Can Help Operators in Crisis.”

Evan says during the pandemic, many franchisors have offered relief to their operators by choosing to “remove or reduce minimum royalty obligations and remove ancillary charges that come each year” and added that the most involved franchisors have helped individual franchisees adjust their operating models to account for government-mandated restrictions, including partnering with delivery companies and installing outdoor dining zones. Evan projects that 2021 will bring a boom in new franchise development as owners look to replace closures, with virtual discovery and document signings making it easier to open a franchise now.

Read the article here.