Are You Ready For Renewal Season?

Originally published January 31, 2013

Any company that has been franchising for longer than a couple years knows the basic routine to prepare for the upcoming renewal season. Indeed, we have previously addressed many of these issues. The pointers usually include getting in touch with your accountants to prepare for your audit, compiling information needed for the Item 20 charts, and reviewing the entire Franchise Disclosure Document to reflect any and all changes in your system.

There are also some items that can be forgotten as your system matures:

1. Look at your sales calendar. Plan in advance for your renewals relating to the timing of your sales activity. Many registration states prohibit sales in their state when a renewal is pending so you must sign your franchise agreements before filing any renewal application. So, think ahead--whether closing sales, discovery days or any other sales activity--because you may have to "go dark" for a while!!