AUGUST 2020
NAASF SUBMITS ROYALTY REPAYMENT OPTION REQUEST TO FWH

On August 11, NAASF submitted the following communication to FWH regarding repayment options. We are working with FWH on an ongoing basis and will keep you posted on this front:

John and Trevor,

We would like to thank you for deferring the royalty payments for North American franchisee-investors during the height of the Covid crisis. This gesture was appreciated by many in the Subway family.

As it pertains to the royalty repayment process, we know that there are two options: 
  • Repayment of the total amount of royalties that has been deferred, over 52 weeks beginning October 16, 2020, or
  • Full repayment of an owner’s total amount on September 4, 2020 with a 10% rebate to be applied on September 25, 2020.  

We have heard from many franchisees that they would prefer to repay the royalties as soon as possible but the cash flow implications are prohibitive. As such, we are recommending a third option to encourage greater participation in the accelerated payment program: 

We recommend a 4-week repayment schedule at an 8% rebate rate. We believe that many franchisee investors will find this to be an acceptable way to pay back quickly without putting cash flow in jeopardy.

In addition, regarding the overarching issue of royalty repayment:
1.        Owners are in need of reconciliation reporting (by week), so that they can accurately account for the royalties and repayments, and
2.      Confirmation that there is not any interest charged on any of the repayment options.

Please let us know if you would like to talk in detail about these recommendations. In the interim, we hope you will adopt our suggestion and look forward to your reply.

The 2020 NAASF Board of Directors
TAKE OUR SURVEY: HELP DETERMINE THE FORMAT OF OUR VIRTUAL ANNUAL MEETING

NAASF will be hosting its annual meeting this year virtually and would like your input on the format and structure of the event so that we can make it as informative and convenient as possible for you.

This is a brief survey that will take just a couple of minutes. Thanks for your input and we'll be in touch soon with the results and with more information on the meeting itself:
NAASF MIDWEST ELECTIONS ARE UNDERWAY

If you are a NAASF Supporting Member in any of the states listed below, then you are eligible to vote in the election for the Midwest region this year. Please be sure to cast your vote on/before September 11, 2020. Results will be announced in mid-September.

The NAASF Midwest region includes: 
AR, IL, IN, IA, KS, KY, MI, MN, MO, NE, ND, OK, SD, TN,WI
DID YOU MISS THE NAASF WEBINAR ON ADYEN?

If you missed the August 11 webinar on Adyen or just want to listen to it again, we've got you covered! Have you NAASF log in handy, and click HERE. The audio recording and slide deck are both available. The audio recording is particularly helpful as it includes the Q&A session, too.

Need your NAASF log in? Email us: membership@naasf.org
COUNTING ON YOU TO DO WHAT'S RIGHT

There are two new additions to the Code of Conduct that apply to the online NAASF Discussion Forum. They are excerpted below. 

While the first addition is self explanatory, the second was added due to a high number of submitted posts recently that have violated the Code of Conduct. We don't like to edit your posts and prefer to post them as you write them--please submit professional, fact-based posts that contribute to a conversation. 

We want to continue to offer our communications hub to the franchisee community; we have to work together so that information is shared factually and so that it does not put liability onto the author and/or NAASF. Thank you in advance for your cooperation and understanding:

  • Members are responsible for creating their own posts (including clear, fact-checked and proof-read copy, links that work and/or graphics such as charts and images) and will not rely on NAASF Staff members for creation of their posts. Tech guidance will be provided when necessary, but each Member is responsible for his/her own post creation/submittal.
  • If a Member of the community submits a post that violates this Code of Conduct three or more times in any 7-day week (Sunday through Saturday), then that Member shall be suspended from posting for the following 14 days. The Member will still be able to read/view posts but not submit posts. Suspensions are at the discretion of the NAASF Moderators and/or the NAASF Leadership Team.
MEET OUR NEW PARTNER: AFLAC

NAASF has recently partnered with AFLAC to offer you supplemental insurance - be sure to learn all about what they offer and make the decision that's best for you and your team! Click the logo to learn more today, or call:

Hara Frankel
hara_frankel@us.aflac.com
(305) 965-5832