THE ROLE OF FRANCHISEE BUSINESS SUPPORT IN LONG TERM SURVIVAL OF FRANCHISEE BUSINESS
Keywords:
Pandemic, Franchisee, Business Survival, Government Support, Franchisor SupportAbstract
The franchise business has contributed significantly to global output, national economic growth, and development. The COVID-19 pandemic impacts have forced the franchise industry to look forward to a long-term survival strategy that ensures business viability and sustainability. Therefore, to assure economic sustainability, a crisis-resistant franchisee survival model is in dire need. The study examined the franchisee survival business support during a crisis. Financial and non-financial business support is gained through strategic alliances from various stakeholders that acted as external factors, which have become their survival strategy to steering up the businesses from the potential pitfalls. This paper offers an important new theoretical construct of franchisee survival in a crisis context – linking to the external support and franchisee survival. The study fills the gap in understanding franchisee survival during the crisis through government and franchisor support. This strategic alliance from external parties is found to be significant for franchisees to know how to manage this external environment into their favorable terms through legal institution, franchisee's resources and capability, and competitive advantage. Thus, survive and thrive amid market turbulence.
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