FranConnect Blog

Articles and best practices insights from FranConnect: the leading in franchise management software.

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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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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Evaluate Your Franchise Recruitment Website

FranConnect has been a long-time partner of the International Franchise Association and Franchise Update Media to score franchise recruitment websites based on a set of best practices. Here you will find our most recent findings for franchise development performance using a franchise recruitment website as the main tool for driving leads.

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Franchise economy remains positive during political uncertainty

It’s a tumultuous political climate in the U.S. right now. Our two major political parties are deeply divided, and it seems even within parties our representatives are finding it difficult to find common ground. Americans are uneasy, particularly with so many unknowns, and it doesn’t help that we are inundated with left- and right-leaning news from the media at every turn. After looking at the American Psychological Association’s annual “Stress in America: Coping with Change” survey, NPR reported that 57 percent of people polled in January said they were stressed about the current political climate; 66 percent were stressed about the future of our nation; and 49 percent were stressed about the outcome of the presidential election.”

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