A well-structured fee agreement template streamlines fee management in the Franchise Fee Portal, ensuring consistency across locations while allowing for specific adjustments. Here are some of the best practices to consider
Standardized Naming Convention
Use clear and consistent fee names to streamline reporting and enhance data visibility. Avoid using complex terms in your fee name. This ensures fees are accurately grouped in charges and deposit reports, reducing confusion.
Standardized fee names, such as Tech Fee, Royalty Fee, Marketing Fee, and Training Fee, help maintain clarity and organization.
Flexible Fees
The template serves as a framework, ensuring consistency across the portal. Use it to establish standardized fee structures while having the ability to make necessary adjustments at the specific locations. This includes modifying rates, setting minimum fee amounts, and excluding certain fees as needed.
Template Application
If your franchise fees rarely change, it is recommended to create a single comprehensive template for all franchise locations. This creates consistency across your business and reduces administrative tasks.
For variable fees that change over time under the agreement, consider separating variable fees into a standalone agreement. This allows fixed fee agreements to remain unchanged while enabling adjustments to variable fees without requiring modifications to the entire agreement.