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COVID-19 has reinforced the importance of “essential” businesses, and that is especially true in franchising where being part of a growing network adds another level of security.
An example of the attractiveness of essential franchises came when Restoration 1 and bluefrog Plumbing + Drain landed a majority investment from MPK Equity Partners and Princeton Equity Group. CEO Gary Findley said that operating essential service trade businesses that were in demand throughout COVID-19 was a plus.
“The fact that both franchises are considered essential businesses is the main reason,” Findley told Franchise Times about getting the deal closed during a pandemic.