Deprecated: mysql_connect(): The mysql extension is deprecated and will be removed in the future: use mysqli or PDO instead in /home/a26f9f83/public_html/articles/includes/config.php on line 159
Franchising and Royalty Payments > NetSparsh - Viral Content you Love & Share

Franchising and Royalty Payments

If you are thinking of turning your current into a franchising company you will need to determine a fair and equitable franchise royalty fee. There are a number of questions you will need to ask yourself in determining this fee such as what services you will provide to your franchisee team and what that will cost. You will also need to take a look at the competition to determine the amount that you can honestly charge without forgoing cost conscious franchise buyers.

It is also important once you go thru this strategic brain exercise to put into your confidential operations manual the procedures for royalty payment and explain why these royalty payments are necessary and how such money is used to maintain the franchise family and system.

Below is an outline to help you with your formulation of a chapter for your operations manual. I recommend that your print this article and modify it to fit your particular franchise system or future franchise company. First go ahead and modify the items then for each number and letter item write three paragraphs to your best understanding of how you will operate the royalty payment system. After this is completed you have yourself a working rough draft for insertion into your Confidential Operations Manual. Continued Success.

ROYALTIES

I. REASONS FOR ROYALTIES

II. WHAT YOU GET

III. FRANCHISOR

IV. DIRECT PAYMENT (AUTOMATIC DEBIT)

V. CREDIT CARD SYSTEM

VI. NON PAYMENT

VII. AUTOMATIC DEBIT BOUNCING

VIII. AMOUNTS

IX. REGIONAL ADVERTISING FUNDS

"Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs

In The News:

'Small Business Rising' Takes on Amazon  Gifts & Decorative Accessories
Best Password Managers of 2021  Small Business Computing

Starting Your Small Business

Where do you find more customers?How do you compete with... Read More

Increase Profits With a Small Investment of Time and No Money

The less a business pays for goods and services the... Read More

Advertising - For Small Businesses (Part 1)

Is it right for you?If you decide to advertise your... Read More

The ABCs of Fundraising

There are many little details that go into making sure... Read More

Lack of Vigilance Can Harm the Bottom Line

The easiest way to lift profits is to cut the... Read More

Facts About Starting Elderly Group Home Businesses

There's been a recent rise in the number of elderly... Read More

Do Home Businesses Complicate Small Business Debt Collection Laws?

The home-based business market, sometimes called the SOHO (small-office/home-office) market,... Read More

SBAs 8(a) Program Can Help Some Companies Compete

Q: A friend told me that as a woman of... Read More

Your Business and the Story of a Tree; Part One

This morning, I went to take a short walk outside.... Read More

Find Some Sample Payroll Check Stubs on the Net for Easy Reference

Starting a business? For many people, the bravery to venture... Read More

But Weve Always Done It This Way

Sacred cows take a long time to die. We get... Read More

Mobile Truck Washing, Case Study

Most folks in the pressure washing business are happier to... Read More

Promote Yourself More Successfully

One of the great challenges for independent professionals and small... Read More

Does Your Small Business Marketing Suffer From The Bulldog Effect?

If you're an entrepreneur responsible for your own small business... Read More

Share Ad Expenses to Boost Profits

The challenges of the small business owner are well documented.... Read More

5 Tips for Hiring a GREAT Bookkeeper

Bookkeeping?the "dreaded" word is something we all have to worry... Read More

(P)Refer to Grow Your Business

(Although this article is geared towards small business owners, the... Read More

The Key to Creating Total System Empowerment

In this paper, I will:1. provide a framework for creating... Read More

Four Reasons Why Small Businesses Succeed (or Fail)

The American system of business management has been admired and... Read More

Knowledge is Power

Why does research and education play an important part of... Read More

Environmental Pressure Washing in Pennsylvania

If you run a mobile car wash, mobile fleet washing... Read More

Packing Material Thats Cheap!

Shipping materials can be expensive! Even the styrofoam "peanuts" can... Read More

Don?t Quit Before You Get to the City!

We were more than excited. Our women's doubles tennis team... Read More

Mobile Carwash; Senior Citizens and Mobile Homes

Senior citizens are generally not a large marketing segment for... Read More

Professional Car Care Businesses You Can Start

If you are in the professional car care business you... Read More