Automate your franchise's royalty payments! The Franchise Royalty Payments app will automatically calculate and transfer royalty payments from Franchisee to Franchisor! Collect royalties on a weekly basis without lifting a finger. Lessen the billing burden on your franchisee relationship through automatic payments so that more of your communication can be about building the business rather than collecting fees.
How it works:
Each week on the day you choose, we will automatically calculate the amount due from each of your franchisees and move the funds from their checking account to your checking account. When you first get started, you will be in draft mode and will have to manually approve each transaction before it executes. Once you are comfortable with the application’s process flow, we will set the app to automatically execute the payments 1 hour after they are calculated. You can edit the fee within the one hour before the payment is executed.
We charge a transaction fee of $10 + 0.8% of the transaction amount (capped at $5), so the maximum paid for a royalty payment is $15. You can choose if you would like to absorb the fee (you are paid out the royalty amount less the transaction fee) or the franchisees pay the fee (they pay royalty amount plus the transaction fee).
To get started there are a few steps that need to be taken by you as the franchisor and each of your franchisees. We've had some users complete everything in 3 days while others have taken a few weeks -- it comes down to how long it takes to have each of your franchisees complete the required steps.
As the Franchisor, you will need to create and configure an account according to the steps described in the link below:
Create an account for Franchise Royalty Payments
Each of your franchisees will need to:
- Install the clover app on their account
- Verify the micro-deposits as described in step 8 in the link above
Once the above steps are in place, please contact email@example.com to start your draft mode.
In the event that a franchisee does not have sufficient funds, our system will automatically retry collection 4 times over the following 3 weeks.
Frequently Asked Questions:
Our Abreeze team has worked hard to answer common questions about Franchise Royalty Payments in our Help Center. Click the link below to find the answers to many of your questions. If you can't find what you are looking for, please reach out to us at firstname.lastname@example.org so that we can further assist!