Gyeonggi-do Prepares Win-Win Measures for Franchise Stores Hit Hard by COVID-19
[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province is promoting win-win cooperation measures between franchisors and franchisees to minimize damage caused by the spread of the novel coronavirus infection (COVID-19).
From the 9th to the 13th of this month, the province, in collaboration with the National Franchisee Council, conducted a survey targeting 3,464 franchisees (including 931 franchise business operators located in Gyeonggi Province). The results showed that 21% of respondents reported a 20-30% decrease in sales due to COVID-19.
Accordingly, as a win-win cooperation measure, the province plans to encourage franchisors based in the province to actively support the difficulties faced by franchise business operators. It will also verify any current or planned support measures by each franchisor for franchisees and separately announce the list of franchisors who have contributed to win-win cooperation. Additionally, the province will consider various forms of social contribution recognition, such as awards for outstanding win-win cooperation companies.
Lee Yong-su, Director of the Gyeonggi Province Fair Trade Bureau, emphasized, "Everyone is facing difficult circumstances, but it seems that franchisors have relatively more capacity than franchise business operators. If the ongoing win-win efforts between franchisors and franchisees expand, we expect to wisely overcome the difficulties caused by the prolonged COVID-19 pandemic."
Meanwhile, according to the survey results, food service franchise Chaesundang, contact lens franchise LensMe, sushi, roll, and salad buffet franchise KooKoo, and Dalkom Coffee have temporarily implemented royalty exemption policies.
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Also, 7th Street Pizza has been supporting promotional costs for delivery fee discounts, and several franchisors in the province have been supporting franchise business operators as part of win-win cooperation, according to the investigation.
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