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The FranConnect Blog
The latest insights and perspectives for the franchising community.
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:
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.
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.