Innovation Has Been Reinvented
Covid-19 has left its mark in every corner of the world, and franchising is no exception. Brands everywhere have been forced to look for ways to stem financial losses, adjust business models, meet customer needs, stanch losses, invent new revenue streams, and, in too many cases, simply to come out alive. For many brands this year, innovation has been the lifeblood of their survival.
So when we chose to extend the deadline for our 2 nd annual Franchise Innovation Awards competition-twice!-it was clearly with Covid-19 in mind. How were brands developing and using technology and innovation to weather the crisis? What future plans did they rush off the shelves and into action on an accelerated timetable?
By extending the deadline, we gave franchise brands the opportunity to share their stories-and a little more time to adjust to the effects of the virus, share the problems they encountered, and evaluate the solutions they came up with during the worst global pandemic in more than 100 years.
In this issue, we cover these awards extensively, highlighting innovation in franchising, but this year in a radically different environment. As the Internet shook up business as usual in the mid-1990s, the coronavirus in 2020 also has “changed everything,” again with no clear idea of what the future will hold as the coronavirus resurges across the U.S. South and West.
Despite all, entries poured in: 113 in 19 different categories describing innovative initiatives and campaigns in four areas: Marketing & Branding, Operations, Products & Services, and HR. As you’ll see, creativity, disruption, and adaptation were abundant-and so were the results (and ROI). Some of the biggest (and smallest) brands turned to innovation and technology, not only to gain an edge on the competition, but just to make it through the pandemic in one piece.
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