franx fdd item 19 what can you do now to get ahead of the pack for 2023

As the end of the year approaches, it will be crucial to begin considering franchise development in 2023. One of the key aspects of this strategy is to reevaluate the Item 19 — a process that should begin before the start of the new year.

“Going into 2023, if you and your brand haven’t worked on it, now’s the time to put the legal and franchise sales teams together, review the Item 19 and discuss next year’s strategy,” said Charles N. Internicola, franchise lawyer.

Brent Dowling, CEO of Raintree, explained that this process involves gathering all of the individuals who are involved in the sales process, including lead generators, consultant liaisons and more. As those who had boots on the ground during the year can talk through the conversations they had with candidates, the group can talk through objections, headwinds and other challenges to avoid similar hurdles next year.

When working to set up these strategy sessions, be sure to plan ahead, allowing everyone time to bring thoughtful feedback to the table and avoid simply doing a quick touch-up to the previous year’s data.