CHAPTER 15The Role of the Chief Financial Officer and Related Financial and Administrative Management Issues

As discussed in the previous chapter, as a franchisor grows and matures, its management team must also evolve to meet new challenges and solve new problems. In the early stages, the franchise’s management team is heavily focused on sales and marketing, which are often necessary prerequisites to building a critical mass of franchisees. But as the emphasis shifts from franchise sales to service and support, additional personnel must be recruited in the areas of operations, administration, and finance. The management teams of many rapidly growing franchisors often lack experienced financial officers who can bring economic discipline to the ...

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