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Franchisee Engagement
A calendar for April 2021

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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A woman joins a virtual business meeting

Making Discovery Days Virtual: 3 Critical Tips for Success

In the franchise world, discovery days are critical to evaluating potential franchisee candidates. These events give you the opportunity to qualify each prospect, help him or her learn more about the business, and make a good impression — ultimately driving a final sales decision: Will you both agree to seal the deal?

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Two businessmen shake hands while smiling

Making the Most of Discovery Days

While researching for this blog post, I came across the same basic description for franchise discovery days over and over again – an opportunity for candidates and franchisors to learn more about each other. According to this article in Entrepreneur, discovery days have four main purposes:

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Towers of coins with plants growing from the top

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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A black and white image of businesspeople shaking hands

Engage Candidates During Every Stage of the Franchise Sales Cycle

Franchisee engagement is a hot topic. We’re seeing a progression away from the rule enforcer/disciplinarian franchisor-franchisee relationship toward one that places the franchisor as a mentor, teacher, or business advisor. After all, your success is dependent on that of your franchisees.

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