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Tips To Collect Royalty Fees Using Brandwide Franchise Software 1
Click to edit Master title INTRODUCTION style • As a franchise owner, you will always want you to grow your income exponentially though franchise royalty payments. • However, checking on and collecting your franchise royalty fees is not as easy as it seems. There are several hurdles and problems that franchise owners have to face in their franchising journey while collecting payments. • This is where, the BrandWide franchise software comes in. • It brings to you, different types of features along with several necessary tips and steps so that you can collect royalty fees of your franchise properly and easily.
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Click to edit Master title Real-time style sales data •
You won't get the real-time sales details you need to build a realistic image of your royalty income if you track royalties using a static spreadsheet.
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Your royalties are dependent on the sales the franchises submit as they submit them, not on real-time sales results.
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You'll need a way to see real-time sales statistics so you can keep track of your franchise royalties at all times.
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The BrandWide franchise software provides you with the dashboard to view the real-time sales data.
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Click to edit Master Central title style source of truth
• Version control problems may occur in a core spreadsheet with several editors. • You must ensure that everybody is reviewing the most current details in order to correctly submit and document royalty changes.
• The franchise software provides you with the interface where you can make and update the changes accordingly.
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Click to edit MasterSeamless title style payment process •
Where it comes to royalty payments, it's normal for several conflicting schemes to coexist within a single corporation. And these systems are often redundant.
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To earn royalties effectively, you'll need to streamline the process by reducing the number of steps needed to obtain payment.
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The franchise software from BrandWide helps to allow for a smooth payment process so that the royalty fees can be paid seamlessly.
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Click to edit Master title Automated style payments • Royalty fees aren't just "another bill to pay," they're important to the viability of the franchise. • Using automation to credit funds owed from franchisees into your account after they've been checked and uploaded. • The BrandWide franchise software provides for seamless automation of the credit of funds and helps to take care of the accounts properly.
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Click to edit MasterSoftware title stylefor accuracy •
Will you have time to reconcile your records? How would you know if anything wasn't quite right?
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You can already have a checking scheme in place to verify the messages were submitted.
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The franchise software helps to keep a check on all the records along with any sort of irregularities.
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It helps to maintain these evidences properly and you can easily use them whenever necessary.
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Click to edit Master title style QuickBooks online • The BrandWide franchise software also allows for easy and seamless integration for the users to create royalty invoices and customer invoices using the software. • After this, they can send these invoices to the QuickBooks which helps to eliminate the requirements for dual entry for both franchisor and franchisees.
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Click to edit Master title FINAL style THOUGHTS BrandWide franchise software is a go to if you want to maintain the royalty fees of your franchise properly. Thousands of franchise owners are already using it for their own advantages and what are you waiting for? If you are interested, go ahead and order a demo today.
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