Territory Sale
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      1. FranScape Knowledge Base
      2. Administration
      3. Territory Sale

      Full Sale of Business to New Franchisee

      What do we do if a Franchisee is selling their entire business to a new Franchisee?

      PLEASE NOTE: 

      It is your responsibility to consider the following in the terms of the sale figures:

      • The total value of Deposits for Monthly Plans that are still active on the transfer date
      • The total value of Outstanding Balances on the transfer date
      • The total value of Credit Balances on the transfer date
      • The total value of Levies applied by your Franchisor

      Do I need to set up a new franchisee in Franscape?

      No. The details of the existing franchisee are edited to those of the new Franchisee, including those of the attached Stripe account (see the action plan below).

      Action Plan

      The process will then follow this action plan:

      What Task When Who

      New Franchisee Login

      Add the new franchisee as a user to the existing Franchisee account.

      When you want them to gain access

      Admin

      Add Instructor

      If the new Franchisee is also the instructor - Add the new Franchisee as an Instructor and assign them to the relevant Territory/Territories.

      Before date of Transfer

      Admin, Current or New Franchisee

      Reassign Classes

      If the current Franchisee is an instructor and the new Franchisee is taking over those classes, reassign the instructor of those classes

      Before date of Transfer

      Admin, Current or New Franchisee

      Edit Franchisee Details

      Edit the existing Franchisee details to those of the new Franchisee

      On date of Transfer

      Admin

      Stripe

      Ownership of the existing Stripe account can be transferred to the new owner

      See information below

      Current Franchisee
      Course Rollovers

      Rollover to the new Course beginning under the new owner

      On or before date of Transfer

      Current or New Franchisee
      Informing Your Customers

      Informing customers of change of ownership

      Up to the Current Franchisee

      Current Franchisee or Admin
      Customer Balances

      Calculate monies to be passed to new Franchisee

      On date of transfer

      Current Franchisee
      Plan Deposits

      Calculate total of plan deposits that need to be handed over to new Franchisee (including suspended plans)

      On date of transfer or date new Course Starts

      Current Franchisee
      Remove Old Franchisee User

      Remove the outgoing Franchisee as a Franscape User

      When they no longer require access

      Admin

      How

      New Franchisee Login

      See ADMIN - Adding/Editing Franchisee Users

      Add Instructor

      See Adding & Editing Instructors

      Reassign Classes

      See Editing a Class

      Edit Franchisee Details

      • Navigate to the exiting Franchisee
      • Under Basic Information select Edit
      • Edit the relevant Details
      • Save

      Stripe - When to change payout information

      Our weekly payouts batch payments between Thursday 00:00:00 - Wednesday 23:59:59, to be paid out the following Monday. 

      For more information on Payouts, please see: How Does my Money Flow and Work?

      We advise the current Franchisee's bank details remain as the payout details until Thursday AM, to ensure they receive their final payout.

      It is the current & new franchisees' responsibility to calculate any payments processed between the final payout being batched and the business transfer date.

       

      For help reporting on payments, please see: Payment & Refund Report

      Stripe - How to change payout information

      Franchisee Login > Settings > Basic > Stripe Configuration > Stripe Dashboard

      • On the Stripe Dashboard, select Account
      • Edit Payout and Professional Details
      • Edit Management and Ownership

      NOTE: To edit the full details, including D.O.B, the account owner will need to contact Stripe Support to authorise the change.

      • Edit Payout Details
        • Changing the bank details connected to the Stripe accountCourse Rollovers

      See article https://kb.franscape.io/knowledge/course-rollover . Setting the “Send Re-Enrolment Email” date a few days ahead can also help here, so that payments aren’t being prompted immediately.

      Informing Your Customers

      We can help here by exporting the email addresses of all of your active customers. You can use the “Contact Customers” feature but it lacks a personal touch.

      Customer Balances

      Use the Outstanding Balance Report to check for and export details of customer balances that are owing and in credit.

      • If a customer is in Credit, the current Franchisee will need to pass that money on to the new owner
      • If a customer owes money, the new Franchisee will need to pass that money back to the current franchisee
        • Or deduct the amount from monies owed to them

      Plan Deposits - Current Franchisee

      • Click the 'Download Table' button on the Plans table.
      • Open the file in Excel or another spreadsheet application
          1. Turn this data into a table
          2. Use Find & Replace to remove the  character
          3. Filter this data to only show Active plans
          4. Use AutoSum to total the Deposit column