Oh, this is a hard one! In regards to your franchise agreement being signed, please ensure you have had sufficient professional advice and you feel comfortable that the price being paid now reflects the new reality.

In relation to marketing, it likely is too early to be aggressive. There is going to be quite a dichotomy in the market going forward, with stretched owners needing to sell and the buyer market likely going to be circling with cashed up buyers wanting great deals. There will be a natural tension as to how the market will determine the new value, and some dancing while this settles to the new norm. It’s hard to say how it will go, but given the economic impact is going to be felt wide and far, it’s key to stay empathetic so as not to alienate particularly your supplier market. It’s a time to nurture relationships so that sellers know you are there when the time is right, listening to their situation. And for buyers, a time to build your database so that when the market opens and supply is there, you can have balanced conversations.

Best wishes on your new business.