Ron Feldman
speaker
3,922 appearances
11 recordings
1 series
first heard Jun 2010
last heard Dec 2020
Ron Feldman’s voice in public audio — every appearance, attributed to the second.
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Appearances
Um
But documenting the unit level economics from day one is is really, really important.
I was a franchisee years ago in the Goddard school system.
And that's one of the things that they did right.
This is nineteen think about this, nineteen ninety five.
were requiring full P and L's monthly from every franchisee and were benchmarking franchisees against other franchisees.
That's nineteen ninety, that's almost twenty years ago.
I can't tell you how many franchise companies still don't do that today.
Um so you getting that information and more importantly communicating that information to lenders
in such a way that you're not violating the FTC rule and one of the best ways to do that obviously is through a bank credit report.
So um
Go ahead.
Uh I think it's
If you're not doing that, you're doing a disservice to you and to your franchisees.
I think if you don't have a common chart of account
that all of your franchisees are required to follow.
So that you can actually benchmark how they're performing uh wi with some certainty as to how different things are getting charged.
Um, Steve Lafever does an amazing job at Profit Mastery of doing that on an outsource basis if you're not going to do it internally.
Um
And you know, it it's it's it's I can't tell you how important it is.
Showing 1441–1460 of 3,922 · page 73 of 197
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