Maintain your old Siemens Hipath system

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:

Up to 20 people could be missing after bridge collapse
Thu, 16 Aug 2018 09:51:00 +0100
Up to 20 people could be buried under the rubble of the bridge that collapsed this week in the Italian city of Genoa, officials have said.

Father-to-be clung for hours on side of Genoa bridge
Thu, 16 Aug 2018 15:12:00 +0100
The thought of his unborn child gave a man the strength to cling to dangling wires on the collapsed Genoa bridge for hours until he was rescued.

£4bn wiped off value of Genoa bridge operator
Thu, 16 Aug 2018 12:05:00 +0100
Shares in the operator of the section of motorway that collapsed in Genoa slumped as much as 24%, wiping more than €4.6bn (£4.1bn) off its value.

US newspapers unite against Trump's 'fake news' rhetoric
Thu, 16 Aug 2018 11:29:00 +0100
US newspapers are coming together to warn Donald Trump against his "fake news" rhetoric with a co-ordinated series of editorials condemning his attacks on the press.

New Zealand bans foreigners from buying homes
Thu, 16 Aug 2018 02:11:00 +0100
New Zealand has sought to restore the "dream of home ownership" by banning foreigners from buying homes - a move its government hopes will tackle surging house prices.



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