Category

Profit
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Franchising Tech Fees and Why You Need One In Your FDD

Technology is constantly evolving, and businesses need to be prepared to adapt in order to stay competitive. Franchisors who don’t update their systems and technology may find themselves struggling in the years to come. One way to help ensure that your franchise system is keeping up with the latest trends is by implementing a technology fee in your FDD. In this blog post, we will discuss the benefits of doing so and how it can help your brand in the long run.

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What is Your Franchise Budget Planning IQ?

Unit-level profitability stems from a range of factors — but one of them is your budgeting planning and preparedness. We think it’s so important we made an interactive franchise budgeting self-assessment. Are you a Reality Avoider? Or maybe you’ve reached the budget planning pinnacle of Titan of Business? Or, somewhere in between. We challenge you to download it, take the quiz, and see where you land.

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How to Engage Franchisees in Better Budgeting and Planning

Unless you’ve spent the past year under a rock, you know that every business sector has experienced uncertainty this year — and that includes franchising. As we approach 2021, no one really knows what to expect from the upcoming year. What will revenues look like? Will franchise units return to full operations, or will they continue to operate at a reduced capacity? How will consumer buying habits evolve along with the pandemic and the economy?

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Franchise Fees: How 4 Types of Fees Can Lead to Growth

Your current franchise fees enabled your brand to get to where it is today — but will they get you to the next level?

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Update Your FDD: 5 Critical Things to Get Right in the Age of COVID

Many franchises look dramatically different today than six months ago. Gyms and retail stores are operating with limited hours or reduced capacity. Restaurants have likely altered their business models around reduced occupancy, takeout, curbside pickup and delivery. Due to these shifts and their financial and legal impacts on your business, it’s critical that you update your franchise disclosure document (FDD) to accurately reflect these changes, even if you believe changes won’t be permanent.

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Why Sharing Franchisee Financial Statements is Important

If you’re already franchising your business, you probably – hopefully – know what a chart of accounts is.

“Chart of Accounts (COA) – a financial organizational tool that provides a complete listing of every account in an accounting system. An account is a unique record for each type of asset, liability, equity, revenue, and expense.” Each account is then broken down into subcategories.

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