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Franchisors, image you are the witness stand, and your ex-franchisees attorney asks you: What specifically are your companys trade secrets? Whats your answer? How about the question: How do you protect your trade secrets? At a trial to protect proprietary information and systems, a franchisor must prove that the information is a trade secret; and, the franchisor has taken steps to actively protect them. Franchising relies heavily on the protection of trade secrets. In fact, trade secrets and intellectual property make up the bulk of what a franchisor licenses to its franchisees. A well-crafted franchise agreement is only a start in protecting trade secrets. ...
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Systems used to manage your franchise can produce a lot of data. This data comes from the corporate level and the unit level in various forms and from across every department in your organization financials, field operations, development, and marketing. To complicate things even further, individuals across the departments, as well as your franchisees, need to see different types of data to successfully do their jobs. Its a challenge to take it all in, and even more of a challenge to make sense of it all. This is where business intelligence comes in. In case you are too busy sorting through data and havent had time to focus on it, business intelligence is ...
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In franchising, you as the franchisor care about two things primarily: awarding new units and improving the performance of those units. Your field operations team is tied directly to the latter unit performance, as they are the ones consulting with your franchisees to ensure their and ultimately your success. Your field consultants are manning the front line of your business when it comes to helping to make your franchisees successful. However, interacting with franchisees is often a pain point for franchisors and their field operations team. Field consultants may not know what the business priorities are, how to work with their franchisees to meet company ...
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Liberty Tax Service- Senior Sales Representative/Franchise Development Sales Rep Position Purpose The Franchise Sales Representative ensures high quality sales connections in alignment with Liberty Tax Service sales department criteria. This position will be responsible for facilitating the purchase of franchise operation by contacting persons who meet organization's standards and visits prospects to explain advantages of franchised business, services to be rendered, costs, location, and financial arrangements. The Franchise Sales Representative takes direction from direct Supervisor and strives to continually improve knowledge and sales techniques. ...
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For those of you following the Saladworks v. Workers Compensation Appeal Board pending before the Pennsylvania Supreme Court, I'm pleased to report that the Court, after briefing and argument, dismissed the appeal as "improvidently granted". This result leaves in place what we thought was well settled law in Pennsylvania that the franchisor is not generally liable for the acts or omissions of its franchisees. This case involved the employee of a Saladworks franchisee that was injured on the job. This employee sought workers compensation benefits from both the franchisee and franchisor, but the franchisee did not have proper workers compensation coverage. ...
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Over the past year, many of our franchisor clients have raised concerns about the length of time that it takes for their FDD and Franchise Agreement to be approved by the Small Business Administration (SBA), which is a requirement to listing a franchisor on the SBA Franchise Registry. Being listed on the Registry greatly facilitates the approval process for franchisees that seek SBA financing because the franchise agreement doesnt need to be reviewed for each individual franchise sale. In essence, the SBA is pre- approvinga franchisors FDD and Franchise Agreement for financing. After reviewing the franchise agreement , the SBA has generally required ...
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Franchising is an interesting business model, in that, the more successful you become at growing your franchise, the more difficult it becomes to manage it. For a business that is just starting out, profits may not be where you want them to be, but it can be relatively easy to manage. Then you find some success and begin to grow and grow your franchise , and take on more and more employees, it can become quite stressful and convoluted. To help manage all the employees of a large and/or growing franchise, you need high quality employee management software . But just how does employee management software help your franchise? Employee Management Software ...
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As we approach the end of the year, its time to start preparing for 2017 FDD updates and the submission of state registration applications. Every year, the franchise registration states make substantive and procedural changes that affect this process, and franchisors and franchise attorneys that stay on top of these changes are better positioned to minimize the time that it takes to get registered. In a previous blog post, we touched upon a major development, namely the increase in e-filing. As we noted in that blog post, Wisconsin now only accepts electronic filing of franchise registration applications. Additionally, the following states have ...
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Measures VP of Franchising explains what makes the drone industry ripe for franchising With the release of Part 107 , widespread commercial operations have become a reality. Operators are starting businesses, flying for companies building programs in house, or joining one of the many drone pilot networks . At Measure, were taking a different route to scale our business: providing qualified candidates a business opportunity through franchising. In the first part of our drone franchising blog post series, Measures VP of Franchising Dan Rothfeld lays out the vision, the challenges, and the opportunity for Measure Nationwide TM . Q: Dan, what ...
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Effective customer management is the keystone of many great franchises. After all, customers really are the end all and be all of your business. If you cant find, maintain, and satisfy your customers, you are sunk. And you cant do all of that if you cant effectively manage --or dont even really know-- your customers. Thats where customer management software for your franchise comes in handy. Good customer management software allows you to get to know your customer base, thus strengthening customer relations, and ultimately, increase profits. Franchise Customer Management Software Customer management software is an important franchise system ...
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A recent change in Federal Accounting Standards Board (FASB) guidelines threatens to alter the way in which franchisors can recognize initial franchise fees in their audited financial statements.Historically, franchisors have recognized the revenue from initial franchise fees as an asset upon the opening of the franchised unit, as accountants view the initial franchise fee as consideration for the franchisor completing its pre-opening obligations. Until opening, the initial franchise fee would show up on the franchisors audited balance sheet as a deferred liability, and for this reason FisherZucker has consistently warned clients against ending their ...
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As you wrap up sales activities this fiscal year and begin preparing for an audit of your 2016 financials, we think it is important to keep in mind capitalization requirements imposed by state regulatory authorities and the effects of last minute sales on the companys financials so that the company can avoid impound conditions or other delays in registration caused by inadequate capitalization. Below is a brief summary of capitalization requirements imposed by state regulatory authorities, as well as a brief discussion of how initial franchise fees may be treated for financial statement reporting purposes. We hope it will assist you in planning for ...
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In todays world, it seems as though you must have the most up to date and cutting edge technology for your franchise to succeed. Indeed, some people talk as though having the best, newest franchise software and systems is all that matters. Of course, this isnt exactly true: the basic fundamentals of running a franchise still matter as much as they ever did. But when you consider that your competition might well be using franchise systems that streamline and ease the management of their franchise, then you had better make sure your franchise systems are as efficient as can be as well. You do not want to be left behind. So here are some of the franchise ...
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Whether someone is looking for quick bite or in immediate need of a repair man, the buyers journey often begins with an online search. As a franchisee, your marketing goals are two-fold: Persuade customers to choose you over your competition and drive those customers to your franchise location over another. Help your franchise flourish with localized marketing campaigns. Check Your Local Listings You may be checking out your business location on search engines like Google to see how you rank, but are you also paying attention to the information that comes up about your location? Is your franchise address and contact information correct? ...
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As we mentioned in a previous blog post, the North American Securities Administrators Association (NASAA) published a notice of request for public commentary regarding financial performance representations (FPRs) that franchisors disclose within Item 19 of their franchise disclosure documents (FDDs). The request by NASAA was a follow up to a similar request they made a year ago. In both requests, NASAA has sought feedback from the public regarding a proposed set of guidelinesdictating what franchisors are permitted to present in Item 19 of their FDDs. The importance of these guidelines cannot be overstated, as Item 19 is the one place where franchisors ...
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Lets say that you run a franchise business and it has become fairly successful. The product or service you provide is in high demand and well regarded. Great! Now, lets say that youre looking to grow your business, say, through franchise development . And lets even suppose that others are interested in becoming franchisees in your business. Super! Everythings peachy, right? Well, maybe not. Even if all of that goes right for you, how are you going to manage your growing business? How are you going to ensure you are growing your business at a sustainable rate? How do you maximize the number of people who see and learn about your business? And how do ...
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Even if your franchise is in its nascent stages, it is not too early to organize your business for a strategic buy-out or for an infusion of private equity in the future. This is not to say that a budding franchise would be able to enter into such an agreement before proving itself; rather, much of what investors look for can be cultivated early on in the business and are generally reflective of a successful franchise , with or with investors. Predictably, investors look to the profitability and the scalability of a business and prefer stable corporate growth followed by deliberate franchising choices. Businesses with one corporate location seeking ...
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The Third Circuit Court of Appeals recently affirmed a lower courts decision to permit a group of franchisees to file a class action lawsuit against a franchisor; a decision that could potentially lead to franchisees being deemed employees of a franchisor. In the matter of Darryl Williams; Howard Brooks v. Jani-King Of Philadelphia Inc., et al ., No. 15-2049 (3d. Cir., September 21, 2016), two Philadelphia area Jani-King franchisees brought claims against Jani-King under the Pennsylvania Wage Payment and Collection Law (WPCL) seeking to recover alleged unpaid wages. Jani-King contracts with customers directly, then sources the performance of the cleaning ...
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Franchise marketing in general can be a pretty tricky proposition. How much money, time, and effort should you devote to franchise marketing? How much should you research the marketing plans of other franchises? How much of what they have done is applicable to your franchise? What is the geographic region that your marketing should cover? And how much should you focus on marketing your franchise online? For the purposes of this post, franchise marketing will refer to the marketing of your franchise location to the end consumer of your product or service. This is not to be confused with marketing the franchise opportunity so candidates can evaluate ...
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New webinar with DEVHUB is coming up on Thursday Dec 1, 2016, 2:00 PM Est! How Franchises and Agencies Can Generate Leads at Scale Franchises and their marketing agencies face a myriad of challenges maximizing the leads they generate online, but chief among them is the difficulty created by their requirements to function efficiently at scale. In this webinar, multi-unit franchisors and the agencies that serve them can learn how to: - efficiently deploy all their locations online with a unified CMS - bring all your marketing and advertising efforts onto one platform - deploy crucial customer engagement tools that enhance conversion ...
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