Why now is the perfect time to start a business, and how Vietnam’s franchise industry is set to change as a result of COVID-19.
Mark Cuban: “Now is the absolutely perfect time to start a business”
In an interview with FOX Business, Mark Cuban, renowned entrepreneur and co-host of Shark Tank, advised that now is a great time to start a new business, because entrepreneurs can plan to fill gaps left by businesses that still remain closed.
uBreakiFix teams up with Google to offer free Pixel smartphone repairs
Tech repair franchise uBreakiFix has partnered with Google to offer free Pixel smartphone maintenance to first responders and frontline workers, including law enforcement, EMTs, firefighters, and doctors.
Eligible workers need to only show their badge at one of the more than 500 participating U.S. uBreakiFix locations to receive one free repair, regardless of the type of work needed.
“We’re grateful to work with our friends at Google to honor those serving on the frontlines of this crisis,” said Eddie Trujillo, vice president of partnerships at uBreakiFix. “We know that a broken smartphone is more than just an inconvenience right now, and it’s our privilege to do what we can to help first responders and healthcare heroes stay connected to what matters most during this time.”
Starbucks and McDonald’s to trial China’s central bank digital currency
According to Coindesk.com, a digital currency specialist, franchise brands such as McDonald’s and Starbucks will soon be the first to test China’s new digital yuan initiative in the country’s Xiong’An district. A specific date for the digital currency’s rollout has not yet been confirmed, but this could change how franchise brands conduct business while operating in China.
Vietnam’s franchise landscape to be transformed by COVID-19
An article published by Vietnam Investment Review details how the country’s franchise industry has the potential to grow following the COVID-19 crisis, and the ways in which the country’s businesses could adapt to cater to new socials norms.
“The ADB [Asian Development Bank] anticipates that if the pandemic is contained successfully within the next two or three months, Vietnam’s economic growth should rebound to 6.8 per cent in 2020 and remain strong in the years thereafter,” writes Sean T. Ngo, a franchise specialist for the region.
For more information, view the full article here.
ICYMI: Sean Murphy, BDO USA, on risk management
We recently spoke with Sean Murphy of BDO USA for the Global Franchise Podcast, and discussed how businesses can plan for the best, prepare for the worst, and ensure that they’re able to continue once the dust settles after COVID-19. To listen to this episode, as well as other conversations with franchising experts, make sure to visit globalfranchisemagazine.com/podcast.