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FranchisingFeature franchises in your price range
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Introducing Propelled Brands Franchisor of FASTSIGNS and NerdsToGo Lead with Franchisees as Top Priority
big
franchising opportunities for your budget
key cash logistics considerations for your franchise
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what’s new! HEYDAY CLOSES $20 MILLION SERIES B ROUND LED BY LEVEL 5 CAPITAL PARTNERS (L5) Heyday, the fast-growing company making expert skincare accessible, announced a $20 million Series B round of funding led by Level 5 Capital Partners (L5) with participation from existing investors Lerer Hippeau and Fifth Wall Ventures. The fundraise will allow Heyday to further scale and cement its position as the trusted brand in skincare, with expansion through franchise of its high-touch physical experience and innovation in delivering personalized skincare. “This strategic funding will enable us to accelerate our growth and deliver on our vision of delivering highly personalized skincare solutions,’’ says Adam Ross, CEO & Co-founder of Heyday. “We are proud of the industry leading in-store facial experience we have built and excited to
expand across the U.S. while innovating digital experiences to meet consumers’ daily skincare needs in a differentiated, expert way.” Heyday’s expansion will meet the consumer both on and offline and will be inclusive of physical store expansion through a new franchise system while simultaneously digitizing its experiences and services. “By expanding Heyday’s physical footprint to hundreds of stores in the next five years, paired with unique expert-led services available virtually, Heyday is poised to become the most trusted company in skincare,” says Chris Kenny, managing partner of Level 5 Capital Partners (L5). https://www.heydayskincare.com/pages/ franchise
FINANCIAL PREPAREDNESS FOR FRANCHISEES: FROM PPP LOANS TO THE UNKNOWN Reflecting on the past year in which one in five small businesses permanently closed, financial preparedness was a key factor in what helped keep many brands afloat. Specifically, for franchisors like Subway, Senior Helpers, and Meineke, securing millions of dollars in PPP loans for hundreds of franchisees as quickly as possible provided the foundation for recovery. Behind that execution was a pre-existing partnership with BoeFly, a premier online marketplace for franchise growth solutions. Mike Rozman, founder of BoeFly, shares that trusted partnerships empowered franchises to successfully navigate the unexpected twists that typically accompany
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financial opportunities like the PPP loan application process. “When it came to securing a PPP loan, speed and positioning were essential. As an outsourced partner, BoeFly helped guide franchisors in assisting their franchisees to rapidly access PPP funds and keep their businesses running. I encourage franchisors to have financing partners in place rather than wait for the next curveball to be thrown our way,” said Rozman. Outsourcing has been a trend on the rise, seeing as it can preserve resources, streamline operations, and reduce spending by up to 60% when it matters most. Bernie Fitzgerald, a franchisee of Senior Helpers in Florida said: “We received a six figure PPP installment and used it for payroll and rent. We were able to use the funds for
payroll and keep the staff doing the terrific job they do for the most vulnerable of our citizens.” As recovery continues, outsourcing facilities management will continue its estimated incline, reaching $1.9 trillion as an industry by 2024. https://boefly.com/
ONLINE LIFELINE – CLOTHES MENTOR LAUNCHES GAME CHANGING ECOMMERCE SITE
EDIBLE IS COMING UP FRESH WITH PLANS TO OPEN 40 NEW STORES IN 2021 Franchise industry predicts record-high growth in 2021.
Clothes Mentor, the nation’s fastest growing women’s resale clothing franchise, launched an eCommerce site in 2020 to combat decreased in-store sales due to the pandemic. It proved to be an immediate lifesaver for their franchise owners, increased new business from out-of-town online shoppers and enabled the stores to avoid employee layoffs. The introduction of the online store has also been a hit for Clothes Mentor’s customers. Women can shop for more than 200,000 items of gently worn clothing, shoes and accessories from 82 stores nationwide, with the profits going back to the local store owner. Customers can now shop local from other company stores throughout the country on the website. People can also bring their like-new items into their nearest Clothes Mentor store to sell and receive cash or store credit on the spot. “When our stores shut down, we had to scramble and launch our online website to keep our franchisees profitable and answer this growing demand for secondhand fashion,” says Chad Olson, COO of Clothes Mentor. “Our new website is a win-win for women looking for high quality, gently worn clothes at a great price. Resale is here to stay and now it’s more accessible than ever with our online site that updates fashion daily.” The online store continued a trend in which the resale fashion market is growing 25 times faster than the overall retail market. It not only gave franchisees a much-needed lifeline, but it came at a perfect time when more people were avoiding stores and shopping online during the pandemic. https://clothesmentor.com/
Edible®, the world’s most beloved leading gifts and treats destination, had a monumental 2020 amid the COVID-19 pandemic due to the release of innovative products, impressive sales numbers as well as the introduction of a new and creative prototype. According to an article featured on Entrepreneur.com, 2021 is predicted to be the best year for franchise growth in a decade, and Edible® is no exception to this encouraging statistic. The brand has a solid expansion strategy in place with a goal to sign 160 franchise agreements and open 40 new stores this year. This aggressive growth goal follows its 141 signed franchise agreements in 2020 and 46 of its stores reaching million-dollar status. Along with this, the brand had its most successful Valentine’s Day to date in 2021 with a 26% rise in sales from last year. In addition to these impressive numbers, Edible® is also looking to grow internationally in emerging markets such as Canada, China, Europe, Pakistan, India, the Middle East and Mexico. Along with the essential launch of Fruit & Vegetable Produce Boxes at the beginning of the COVID-19 pandemic, other additions to Edible’s® diverse product offerings include its introduction into the floral space with FruitFlowers® and new treats in the Edible Bakeshop™. Edible Music™ has also launched with albums from Grammy- and Tony-Award winner Leslie Odom Jr. Offering all of these innovative products, the brand’s new prototype creates a more interactive and theatre-like experience for customers. With an exciting pipeline in place, Edible® is looking towards a prosperous 2021 and continues to be a trailblazer in the franchise industry. https://ediblefranchise.com/
Franchising USA
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COVER STORY: Fastsigns
Introducing Propelled Brands:
Franchisor of FASTSIGNS and NerdsToGo Lead with Franchisees as Top Priority Franchising USA
The past twelve months have undoubtedly shaken every industry across the franchising sector due to the pandemic. After a year that left no business unaffected, concepts that fulfill the role of supporting businesses in their communications and IT operations have proven to be not only necessary, but essential in helping other businesses stay afloat. With the support of a seasoned and
to pivot their services to focus on what matters most — serving their customers.
“Over the last year, the FASTSIGNS and NerdsToGo business models have continued to show resiliency and are poised for growth in 2021.”
experienced franchisor, franchisees with FASTSIGNS, the leading sign, graphics and visual communications franchise, were equipped with resources and support that guided them through the unknown challenges that the pandemic brought to their businesses. The award-winning franchise reported a strong year of growth in 2020, signing 31 franchise agreements to develop new, co-branded, and conversion centers worldwide and opening 30 locations, including the brand’s first center in the Dominican Republic. Much of FASTSIGNS’ success last year can be credit to centers being deemed essential businesses, allowing franchisees
“Our franchisees’ success comes first. When the pandemic began to impact our industry, we fought to ensure FASTSIGNS centers across the U.S. could continue to operate, and we’ve continued to be by their side to help them every step of the way,” said Mark Jameson, Chief Support and Development Officer. “We’re incredibly proud of how our franchisees adapted to the changing climate by tapping into the diverse product range we offer so they could fulfill the unique needs of their customers. Our franchisee’s role of being the go-to resource for visual communications in their communities continues to grow stronger every day. The growth and momentum we’ve experienced is a true testament to the strong FASTSIGNS network, our brand’s ability to adapt systemwide, and the rising demand for signage.”
World-class Support during Unprecedented Times Thanks to the exceptional support team that worked around the clock to help the system succeed, even seasoned franchisees were able to benefit from their assistance during the pandemic. Jeffrey Chudoff, a FASTSIGNS franchisee in Maple Shade, New Jersey, spent over 30 years as the owner of an independent sign shop before converting his business into a FASTSIGNS franchise in 2016. He credits being a part of the FASTSIGNS family for his success in 2020.
“I could not imagine what it would have been like to operate during the pandemic without the support of FASTSIGNS and our network of franchisees,” said Chudoff. “While so many small businesses struggled or closed their doors permanently, we exceeded $1 million in revenue for the first time. I was truly in business for myself, but not by myself.”
FASTSIGNS Acquires NerdsToGo In October 2020, Propelled Brands, parent company of FASTSIGNS, also made its first acquisition with the addition of NerdsToGo, an emerging IT services brand, to its portfolio. NerdsToGo has been franchising for four years and is a part of the large and growing IT services industry with 26 franchise locations in 16 states. “We are excited to officially welcome NerdsToGo, a growing franchise organization in the IT services business, into our family,” said Catherine Monson, CEO of FASTSIGNS International. “We look forward to what lies ahead for this exciting brand, especially the continued growth that will benefit NerdsToGo customers, franchisees, and team members.” Connectivity is more important than ever with COVID-19 only accelerating remote working, online learning, and business continuity — all of which require errorfree networking, security, privacy, and videoconferencing. Poorly functioning IT systems are a huge headache and productivity constraint for consumers and small businesses alike who need reliable solutions.
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COVER STORY: Fastsigns
“Much of FASTSIGNS’ success last year can be credit to centers being deemed essential businesses, allowing franchisees to pivot their services to focus on what matters most — serving their customers.” Rory Dunnaback became a NerdsToGo franchisee in 2017 with the opening of his location in Milwaukie, Oregon. As a member of the franchising advisory
council for NerdsToGo, he’s been part of the conversations with the FASTSIGNS leadership team over the past several
months since the acquisition took place. “I’m extremely excited about everything
that the leaders of FASTSIGNS will bring to NerdsToGo,” said Dunnaback. “I’m
confident that their years of knowledge and experience in growing a B2B
franchise system will help our brand on
the local level and nationally as we grow our presence. The enormous network of
resources, support tools and guidance they
offer to franchisees have already benefitted my business and I know it’s only the beginning.”
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Creating Opportunities for New & Existing Entrepreneurs Over the last year, the FASTSIGNS and NerdsToGo business models have continued to show resiliency and are poised for growth in 2021. As the pandemic continues, FASTSIGNS and NerdsToGo are positioned to provide a strong business opportunity for people ready to make the leap into franchising. FASTSIGNS and NerdsToGo participate in the International Franchise Association’s (IFA) VetFran program that provides military veterans with special incentives and assistance to open a franchise. Veterans, in addition to first responders, including paramedics, emergency medical technicians, police officers, sheriffs, and firefighters, can take advantage of specific incentives, including a franchise fee of $24,875 — a saving of 50 percent. FASTSIGNS and NerdsToGo are the only franchises in their industry to offer a 50percent discount to any veteran, without stipulations.
FASTSIGNS is aiming to sign at least 35 franchise agreements this year in markets across the U.S. such as Southern California, the Midwest, New England, and along the Northeast Corridor. Additionally, the company is focusing its NerdsToGo development on the U.S., aiming to sell 30 franchises nationwide as part of its plans to grow the brand’s presence in new and existing markets. FASTSIGNS is particularly focusing on its co-brand and conversion programs, which helps existing business owners add a FASTSIGNS to their store or fully convert their business to a FASTSIGNS franchise. FASTSIGNS has helped countless owners of print shops, photography studios, camera stores, embroidery shops, and more, diversify their product lines and services to meet the growing demand for signs, graphics, and visual communications. Both the co-brand franchise opportunity and conversion can be started with only $15,000 (USD) down on the initial franchise fee. www.fsfastsigns.com/own-a-fastsigns
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Featu re
S i n e a d H o r a n -We b b | Fr a n c h i s i n g U S A
Big Franchising Opportunities for Your Budget
So, you are dreaming of running your own business and being your own boss, but you’re worried about taking a big financial risk? One of the many benefits of franchising is the wide variety of business options
available to suit even the most frugal of budgets.
Many successful franchisees start out small. Some are savvy entrepreneurs
looking for a lucrative side hustle, others are stay-at-home parents or retirees
looking for a flexible and fulfilling way to earn extra income. Wherever you are coming from and whatever your
ambitions are, if it’s your first foray into franchising, a small, low investment
franchise is a great way to test the waters.
Franchising USA
Is now a good time to become a franchisee?
franchisees afloat—after all, it’s in their best interest that your business succeeds.
There is no doubt that many businesses— large and small—have suffered during the global pandemic. The experience has taught us all that nothing is ever certain and the best we can try to do is be prepared.
• providing advice around navigating new regulations and restrictions
Franchise systems offer a greater degree of support than small business owners trying to do it on their own. Franchisors offer a tried-and-tested business model with builtin operations, marketing and sales support. They are also committed to keeping their
Franchisors are able to support and assist their franchisees by:
• assisting with accessing government support programs • assisting with landlord negotiations • providing royalty reduction and deferral programs • carrying out activities to monitor and support the well-being of franchisees.
What do I need to get started in franchising? It’s clear to see that franchising offers more security and support than going it alone and trying to keep your own small business afloat during turbulent times. And once you have made the decision that franchising is for you, it’s easy to dive right in! Start-up fee and investment – you will need to have some savings to start your venture. For small business opportunities you should be able to provide at least 10 percent of the franchise cost up-front. Some franchises offer low investment fees to get you up and running fast but require royalty fees and a portion of the profits you make. This latter option can be suitable for people just getting started in franchising who have little capital but big ambitions and are willing to share the success of their efforts with the franchisor. Always do your research before signing a contract to make sure you understand the financial expectations. A passion for the product or service – while it’s true you don’t always need to be an expert in the subject of your franchise (for example, you don’t need to be a chef to own a restaurant or an athlete to run a gym) it is important to be driven by more than making money. To be successful, you will need to show passion and commitment to your business and the industry it represents. Make sure the franchise opportunity you choose suits your interests, your personality and your lifestyle, not just your bank balance. Do your homework – once you have selected the type of franchise you want to be a part of, do your research to learn all you can about the different franchises
available within that category. Attend franchising expos, attend information sessions, talk to franchisees about their experiences, and devour as much information as you can—reading the Expert Advice articles in Franchising USA magazine is also a great way to start!
Franchise opportunities for all budgets With varying investment rates and start-up costs, there are a wide range of franchises to suit most budgets. Some require more capital due to real estate, shop fit-out or equipment expenses, while other franchises can get you up and running at a fraction of the cost—there is not one-size-fits-all financing structure to franchising. But what you can expect to find across all of these franchises is a network of built-in structures, systems and support that will make your pathway towards business ownership a smooth one, with many franchises even offering financial plans and discounted fees to support budding entrepreneurs.
Featured In This Issue Of Franchising Usa: Dough and Arrows is a familyowned and -operated company offering a wide range of gourmet treats and edible cookie dough—a newer entry into the dessert market that is steadily rising in popularity. Their products are produced in small batches and have an exclusive feel and positioning to entice consumers. Established in Hanover, PA in 2018, D&A is a fast-growing brand with prime locations still available. Learn more: https://www.doughandarrows.com/index. php/franchisee
Fast Signs has continued to perfect its business model over decades to become a leader in the sign and graphics industry. As businesses look for new ways to compete for attention in a visually-oriented world, FASTSIGNS franchisees are in the perfect position to achieve long-term success crafting creative, cutting-edge solutions for businesses on a local and global scale. FASTSIGNS has been recognized by the Franchise Research Institute as a WorldClass Franchise, based on franchisee surveys. Learn more: https://www. fsfastsigns.com/own-a-fastsigns/ AAMCO is the leader in complex car repair. With the industry shifting toward technologically enhanced hybrid and electric vehicles, AAMCO is leveraging technology, ongoing training and education to invest in the future of automotive repair. AAMCO is the only brand capable of winning a sizable share of the complex car repair business that the cars of today and tomorrow will generate. Existing franchise owners are reinvesting in AAMCO in record numbers—opening their second, third or fourth centers. Learn more: https://aamcofranchises.com/ GI Tax is revolutionizing the tax preparation industry. While taxes are at the heart of the brand, they offer yearround financial services, creating multiple revenue streams and higher return on investment for their franchisees. GI Tax seeks ambitious franchisees who value American ideals and serving their community. A typical G.I. Tax franchise costs significantly less than most franchises due to low initial franchise fee and the ability to open a location virtually anywhere. Learn more: https://www.gitaxfranchise.com/
More franchises to explore…
Infinity Martial Arts https://infinitymartialarts.com.au
Assisted Living Locators www.assistedlivinglocatorsfranchise.com
Mosquito Mike https://mosquitomikefranchise.com
Body 20 https://body-20.com/franchise/
Win Home Inspection https://winfranchising.com
BooXkeeping https://booxkeepingfranchise.com Caring Transitions www.caringtransitionsfranchise.com
Window World www.windowworldfranchise.com Ziebart www.ziebartworld.com
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Profile: XP League
In a League of Their Own Jay Melamed, CEO and co-founder of XP League, talks with Franchising USA about the rise and rise of esports franchises. Jay, tell us about yourself and how you came to start this innovative franchise. I received my MBA from the University of North Carolina’s Kenan-Flagler Business School and live with my wife and business partner, Eva, and our four children in Raleigh, North Carolina. Prior to co-founding XP League, I sold my successful energy efficiency and insulation start-up and also served as Regional Vice President with a publicly traded business consolidator. XP League — the first-to-market youth esports league franchise that bridges the gap between conventional youth athletics and competitive esports — was founded in June of 2020 during the height of the pandemic. We launched franchising in September and just signed our 20th territory. We currently operate in 12 states across the U.S. and announced our first territory in Canada in December. We’re looking to grow aggressively both domestically and internationally and look forward to adding additional territories in 2021.
What makes XP League so unique? For decades, children have learned about sportsmanship, teamwork and positive behaviors from youth sports participation, while building long-lasting friendships.
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“Esports has been gaining traction over the last decade and the current pandemic has only added fuel to the fire for this growing industry”
“Beyond our attractive franchise model, XP League is a rewarding experience for parents and children and teaches inclusivity, friendship, team building and competitive spirit.” For those reasons and many others, parents often jump at the chance to enroll their children in a recreational or travel sports league. But, ask parents if they have such a positive association with their kids playing video games and, well, they’re likely to feel a bit differently. As the only esports franchise modeled after classic youth sports organizations, XP League is trying to change that misperception, while providing entrepreneurs an opportunity to become part of the esports industry and be in business for themselves, but not by themselves. Additionally, the esports market is primed for explosive growth and is expected to surge to nearly $1.6 billion in revenue in 2023. We’ve tapped into that growth potential, while allowing entrepreneurs to ramp up quickly through the our “League in a Box” business model. At discovery, each franchisee is given a comprehensive kit that includes league and tournament guidance and support, team logos, branded gear, exclusive coaching and esports brand partnerships, and more. Beyond our attractive franchise model, XP League is a rewarding experience for parents and children and teaches inclusivity, friendship, team building and competitive spirit. I also think it’s worth noting that while esports is typically viewed as a male-dominated sport, some of our best teams are led by females and we’re excited to see this trend continue.
Who is your ideal franchisee? Ideal for entrepreneurs new to franchising, as well as veteran operators in a variety of verticals, XP League’s simplistic operations allows franchisees to open additional territories and saturate a market much quicker than other industries. Since the XP League model is so easy-to-run and nomadic, a local civic center, elementary school media center, empty office or retail
space can quickly become an esports hub. There’s a vast white space available for entrepreneurs interested in monetizing a career in esports.
but rather, could even utilize an existing empty building. You just need a league commissioner (franchisee), coach, teams and a space to get started.
Why is now the ideal time to start franchising, given the current climate?
What are your franchising goals for 2021?
Esports has been gaining traction over the last decade and the current pandemic has only added fuel to the fire for this growing industry. XP League provides those interested in esports and youth programming an affordable start-up opportunity with its low capital expenditure and easy to scale business model. Additionally, an esports franchise can be run from anywhere. You don’t need a traditional brick and mortar location,
We just announced the signing of our first international franchise agreement in Canada, which is a huge accomplishment for our team considering we just launched our franchising program in September. We have aggressive plans to make XP League an international juggernaut in the esports industry and will look to continue our domestic and international expansion through franchising. https://www.xpleague.com/
Franchising USA
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Snaphot: IMAGE ONE CLEANERS
CELEBRATing 10TH ANNIVERSARY with franchise fee roll back To celebrate Image One’s tenth anniversary, founder and CEO Tim Conn is pleased to announce the commercial cleaning franchise is rolling back its franchise fee to reflect the year it all began. Image One will offer a reduced franchise fee of $29,750, what it was in ten years ago, to the first 10 franchisees who sign on in 2021. Additionally, for each of those 10 franchisees’ 10 months in business, Conn and Image One will match their marketing contribution at 50 percent of their spend. “We’ve had a strong first decade in franchising, and in a year when hardworking, determined Americans have been hit with adversity unseen in year’s past, Image One recognized there would be no better way to celebrate than by giving back with a deeply reduced franchise fee,” said Conn. Founded by Tim Conn and Mike Schuchman, the company prides itself on its franchisee training and support, consumer-facing and franchisee-facing technology, a focus on family and lack of area developers/territory managers. Image One offers a comprehensive list of commercial services including: daily janitorial, carpet cleaning, hard surface floor care, window washing, vacancy services, move in/out cleaning, postconstruction cleaning and disinfectant cleaning services. In 2020 Image One introduced electrostatic disinfection to keep office settings healthy. Even with Image One’s industry-leading
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advancements in technology and recognition, Conn says he’s most proud of the lives that have been changed within the franchise system. “One of the most meaningful moments of the last ten years was when one of our longtime franchisees, Jason Avila, surpassed $1 Million in annual revenue in 2019,” said Conn. “Seeing him reach that level of success proves that we’ve created a fruitful franchise system that can truly change lives. Years ago when I ran an independent janitorial company, my best gross revenue was less than half of what Jason and his team produced in 2019, so it’s extra rewarding that our system has allowed our franchisees to grow a business to more than double what I was able to do in the early years.” Next for the brand Conn anticipates steady growth over the next five years, with five to 10 new franchisees in each of the next
five years, noting that finding candidates that will be a good fit culturally is the top priority. Image One’s ideal candidate is involved in the day-to-day operations and joins the brand with sales experience or a customer service background. Image One franchisees aren’t afraid to get their hands dirty (or clean) to get the job done and help their team members. Most importantly, this person must align with the brand’s mission and core values – honesty and integrity are of utmost importance and that is something you cannot teach. Specific states Image One is looking to expand in over the next decade include Arizona, Colorado, Florida, Illinois, Indiana, Iowa, Michigan, Ohio, Texas and Wisconsin. Learn more about the franchise opportunity at https:// imageonefranchise.com/
A brand you can grow with. A brand you can grow with. Join Join the the exploding exploding industry industry of of Mosquito Mosquito Control Control with with Mosquito Mosquito Mike, Mike, aa brand brand you you can can grow grow with. with. Prime Prime territories territories are are available available now! now! Don’t Don’t miss miss this this remarkable remarkable opportunity: opportunity: Join the exploding industry of Mosquito Control with Mosquito Mike, a brand you can grow with. Prime•territories available with now!explosive Don’t missgrowth this remarkable potential opportunity: investment Low costare • Low cost investment with explosive growth potential fantastic support curve with learning •• Short growth potential with explosive investment Low cost fantastic support curve with learning • Short revenue work with •• Seasonal support with fantastic curverecurring Short learning revenue recurring work with • Seasonal •• Operate recurring revenue withhome workyour Seasonalfrom • Operate from your home • Operate from your home
This information is not intended as an o er to sell, of an o er buy,toabuy, franchise. It is for purposes only. Currently, theo er o erand andsale saleofoffranchises: franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, NewNorth York,Dakota, North Dakota, Oregon,Island, Rhode Island, South Dakota, This information is not intended as an o erorto the sell,solicitation or the solicitation of anto o er a franchise. It isinformation for information purposes only. Currently,the thefollowing followingstates states regulate regulate the California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, Oregon, Rhode South Dakota, Virginia, Washington, Wisconsin. you are a resident of or want atofranchise in one states, we we will notnot o er youyou a franchise until we havethe complied with applicable pre-sale registration disclosure requirements instate. your state. Franchise o erings arebymade byOregon, Franchise Disclosure only. Virginia, isWashington, andasWisconsin. you arethe a resident of oroftowant to locate a franchise in of one states, will o er a franchise unlessand and untilregulate we have complied with applicable pre-sale registration andand disclosure requirements in your Franchise o erings are Franchise Disclosure Document only. Dakota, This information notand intended anIfo er toIfsell, or solicitation anlocate o er buy, a franchise. It these isofforthese information purposes only. Currently, theunless following states o er and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York,made North Dakota, Rhode Island,Document South Virginia, Washington, and Wisconsin. If you are a resident of or want to locate a franchise in one of these states, we will not o er you a franchise unless and until we have complied with applicable pre-sale registration and disclosure requirements in your state. Franchise o erings are made by Franchise Disclosure Document only.
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Expert Advice: John Clatworthy | SVP, Chief Customer & Strategy Officer | Cash Connect
KEY CASH LOGISTICS CONSIDERATIONS FOR YOUR FRANCHISE
Owning a franchise requires constant investments in your business, from financing new equipment and funding the creation of new marketing materials, to hiring additional team members and — as we saw this past year — purchasing new safety and sanitary measures to comply with COVID regulations. Franchising USA
Investment priorities shift depending on several factors. However, an oftenoverlooked area of investment is cash logistics. As most business owners can attest, effective cash management and logistics are a priority for every franchise. It is important to know where every dollar is coming from and where it’s going within your business. This is not always easy to manage, and many franchise owners outsource cash logistics, especially those with high-volume cash transactions like food services. Having the right cash logistics partner is important, as it will impact both your daily operations and your bottom line. There is a lot to consider with cash logistics such as safety, theft, and of course,
precious time. When evaluating the various ways to help your franchise run more efficiently and safely, there are five key logistical considerations you should keep front of mind. If implemented correctly, these solutions will allow franchise owners to focus on what they do best — serving their customers.
Smart safes with a daily credit solution can optimize carrier frequency A key way for franchise owners to costeffectively manage their cash supply chains is by implementing a remote cash capture solution. A remote cash capture solution, coupled with a smart safe, enables owners to have access to daily funds via provisional credit and detailed reporting,
“Data drives businesses and informs decisions. Consider the impact if, as a franchise owner, you could receive additional detailed reporting about your cash flow and your employee activity.”
resulting in fewer pickups and reduced armor carrier fees, which lowers costs. Smart safes validate every note placed in the safe quickly and efficiently, and provide your business with the ability to receive daily credit for the funds to your bank account of choice, while they are still secure in the safe awaiting an optimized carrier pickup.
implementation of a remote cash capture solution can provide daily managementlevel reports that will allow you to easily monitor the monetary aspects of your business.
Learn to operate in a leaner way
While hard savings can have a greater direct impact on your bottom line, soft dollar savings are equally important. Inefficiencies could cost your franchise money, time, and resources. When deciding if your businesses could benefit from an automated solution, consider the soft dollar savings associated with the solution. In many cases, this includes the elimination of cash counting and time consuming trips to the bank. This time could be repurposed towards activities that increase your business’s bottom line – such as customer service, hiring, training, and marketing.
Cash logistics solutions can provide operational efficiencies. Remote cash capture solutions, such as smart safes and cash recyclers, utilize software for cash tracking and reporting, and provide business owners with enhanced cash flow with provisional credit. When you use a smart safe, you can manage your cash with greater ease, efficiency, and transparency. That’s good for the shortterm, but it’s also good for the future, because a smart safe provides data and trends that help you forecast your future cash needs, plan for the unexpected, and make informed financial decisions. Streamlining these integral parts of a business’s cash management operation can reduce operating costs and help ensure the organization’s financial health.
Allow data to drive your financial health
Consider utilizing a third party for cash services
Data drives businesses and informs decisions. Consider the impact if, as a franchise owner, you could receive additional detailed reporting about your cash flow and your employee activity. The
Outsourcing cash logistics processes to a logistics company may be best for your business. Time and safety are priorities and using a third-party organization that can manage everything from in-store cash
Realize the impact of soft dollar savings
John Clatworthy
management to up-to-date cash flow allows you to not only save time, but it ensures your cash is safe, secure, and available. In the end, outsourcing your cash logistics will also save internal resources and can ultimately help save money. If implemented correctly, automated cash solutions can reduce risk, increase efficiency, and provide a centralized view of the overall health of your business. When researching solutions and thirdparty providers, ensure you are thoroughly vetting potential partners, confirming they have all the services needed to protect your business now and in the future. From armored carrier management to smart safe solutions, change order, and ATM solutions, your cash logistics partner should be at the forefront of innovating cash logistics and should operate with your business in mind. John Clatworthy is Senior Vice President, Chief Customer & Strategy Officer at Cash Connect®, a division of WSFS Bank, which is a premier provider of ATM cash and smart safe-related services to over 30,000 businesses in the United States. He has more than 20 years of experience in the cash, payments, and financial services field. https://cash-connect.com/
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