• Benchmark - Meet with your FranDev team and assess what worked and didn’t work in 2022. What questions were your candidates asking? What questions did your Item 19 leave unanswered? What data points - if added to your Item 19 - would provide an advantage over your competition?
• Collaborate - Your Item 19 should tell a story that is consistent with your brand and value proposition. Bring your FranDev and legal team together to discuss and collaborate on what a great and even better Item 19 could look like in 2023. When it comes to your Item 19 dont let the process be driven by just the legal team. Let FranDev lead the way and advise legal as to the about the types of financial data and data categories that would better inform candidates and help you sell franchises.
• Build Better Data Collection Practices - Probably too late for 2023 but give thought to 2024 and building a better process for franchisee data reporting. Implement financial controls focused on uniform ledger accounts and build a cadence of quarterly franchisee financial statement reviews.

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