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Franchise accounting: What to consider when expanding your business

Franchise businesses are expected to make a significant recovery from the economic damage inflicted by COVID-19. In 2021, franchise businesses are projected to open more than 26,000 new locations and add nearly 800,000 new jobs, according to the International Franchise Association. If you are one of those businesses adding a new location, there are a number of issues that will impact your accounting team and personnel. Here are the top considerations you need to be aware of when expanding your franchise business.