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Franchise Best Practices
A silver globe key chain next to gold coins

As a franchisor, collecting an initial franchise fee can be a critical factor in your success – yet it isn’t always as straightforward and simple as you might expect. Despite planning to collect all relevant fees at designated intervals, there are common issues that arise during the process of collection – packet delays, delayed payments, or non-payments by some franchises. To help equip you for managing these challenges efficiently and effectively, here we discuss the 4 most problematic issues franchisors face with initial franchise fee collections and how best to approach them.

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A team meets to discuss results

When you franchise a business, you’re offering many different services to your franchisees to help them get off the ground, like your recognizable brand name and business strategies. Of course, these resources have a cost, and royalty fees represent one of the ways that franchisees pay for those resources. Determining how you’ll charge these fees will play a significant role in your earnings from franchisees.

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A woman smiles while vlogging about beauty products

One of the crucial factors that contribute to the success of any franchise lies in building and maintaining a strong relationship between the franchisor and the franchisee. Open communication and trust are the pillars that support a successful franchising model. Effective communication is essential to creating a strong foundation for franchise growth. It is an effective tool that can help both franchisors and franchisees understand each other’s priorities, challenges, and expectations for the future. In this blog post, we will discuss the importance of effective communication between franchisors and franchisees, and how to establish open lines of communication and trust.

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A woman looks at FranConnect's dashboard on her desktop whilst talking on the phone

We recently launched Franchise Scorecards and are excited to share the news! The franchise scorecards, part of FranConnect’s Operations platform, equip brands with a complete view of the health of a unit at your fingertips helping franchisees drive unit-level economics. Anyone involved with franchise field visits likely agrees that the prep work for a visit can be daunting. It seems to take hours, pulling information from different systems to end up with questionable economic insights. Additionally, comparing one unit against the average of their peers is nearly impossible without having key performance metrics identified.

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A young businesswoman analyzes a graph closely

Key performance indicators (KPIs) are tightly integrated with franchise business planning because business plans contain key results (KRs). KPIs are a subset of these key KRs, which the franchise uses to measure its performance.

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