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Your main source of ongoing income will be the other fees you charge your franchisees. These fees are typically: royalties, advertising contributions, grand opening advertising, minimum local advertising, license rights, maintenance and repairs, refurbishing or other extraordinary expenses, insurance, additional training, late charge and interest, transfer fee, renewal fee, audit expenses, indemnification and attorney fees.
You should look at the fees your competitors charge. But don't just copy them! Use them as your starting point and change them to your circumstances. Consider the following issues when setting your fees:
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Susan Sayour |