"Great concept: How much did you say I can make?"
Profit drives franchisee satisfaction and business value. High profits mean fewer distressed franchisees and improved capacity for reinvestment and growth. Networks that can demonstrate strong franchisee profit are easier for franchise development teams to sell and more attractive for prospects to buy. How can franchisors collect and use financial information to improve performance while facing challenges such as lack of data, variability of results and disappointing profits? Should franchisors make financial performance representations and how can this be done with confidence?
Our panel will consider questions such as:
- How do franchises use benchmarking to improve profit?
- How do you use financial performance representations in the franchise development process?
- What are effective strategies for collecting franchisee financial information?
- What financial and performance information is most helpful to franchisees?
Panel:
Kate Groom is Vice President, Franchise Support Services of Profit Soup.
Gary R. Duvall, C.F.E., is a Partner and franchise attorney with Dorsey & Whitney.
Stuart Ford is Director of Gymboree Play & Music.
Dave Skromme and his wife, Linda, are franchisee owners of FASTSIGNS® sign and graphics center in San Mateo, California.