1) Improved Revenue and Profitability. Auditing encourages your franchises to declare their revenues correctly; where previously you may have missed out on fees and profit.
2) Outsourcing to a trusted and professional business partner, takes away the contradiction between you and your franchisees. They will carry out the audit, as per the franchise agreement, allowing you to carry on supporting your franchise network, without the ‘we don’t trust you contradiction.’
3) The temptation to generate additional undeclared income for a franchisee is enormous, especially in these troubled times. It they know you are watching them; they are far less likely to try to defraud you.
4) The benefit of a partnership between the auditor and the franchisor creates a greater understanding of the requirements of both the franchisee and the franchisor. The auditing process frequently highlights areas where improvements can be made to the benefit of both of the franchise parties.
5) Cost. It need not cost you anything. If you can identify franchisees who you suspect our under-declaring, you can recover the cost of one or even multiple audits from just one visit.
6) Critical Mass. If your business is growing, the chances are that you are using your franchise recruitment fess to support your business. When you achieve Critical Mass, the revenue derived from your management service fees will reach a point where your business is self sustaining and gross profit from each and every new franchisee will go straight to your bottom line. If you audit you increase the prospect of achieving Critical Mass faster.
Outsourcing your audit to CBCS, gives you consistent and unbiased results; allowing you, the franchisor to concentrate on providing support to your franchisees. We would work in partnership with you to establish a bespoke audit method, which would work best with your franchisees and provide you with the reassurance that your franchisees were in compliance.
Because we can tailor services to suit you and because we are small, we can achieve all this at a surprisingly low cost to you and that’s the crunch in these difficult times.
Would you like to know more?
Please contact me directly on 07759 248490/01428 743932 or via e-mail at chrisburton@cbcservices.org. Alternatively you can access our website at http://www.cbcservices.org and complete our online form.
We look forward to hearing from you.
All Things Financial 