Have you wondered why Gotcha Covered has so much success bringing in Canadian franchisees? Here’s one secret: In addition to being an all-around great business, Gotcha Covered implemented an Exchange Rate Protection program in 2014. This protects our franchisees from the volatility of US/Canadian exchange rates and helps show our love to our northern neighbors.
The exchange rate can make managing royalties a real problem for Canadian franchisees. With this program, we cap the exchange rate at 20% and maintain a lower royalty and ad fund in Canada. Here’s an example of how it works.
Before the Program:
Since implementing this program, the highest exchange rate was $1 CAN to $1.41 US. That means our Canadian franchisees would pay $1,410 CAN for a $1,000 US royalty. Ouch!
With the Program:
Under the program, we cap the exchange rate at 20%, so the franchisee would pay the equivalent of $1,200 CAN for the royalty payment. Our franchisees were grateful the program was in place during that spike.
The Exchange Rate Protection Program has already saved our Canadian franchisees thousands of dollars in just a few short years. It’s just another example of how Gotcha Covered strives to keep the franchisees best interest top of mind when making business decisions.
Let us help you learn why our franchisees all across North America love this business and appreciate how Gotcha Covered helps them be successful. In addition to reaching out to me directly, you can find territory maps, guides, and resources for your candidates in our online consultant toolkit using the link and password below:
About the Gotcha Covered Franchise
A Gotcha Covered franchise provides a lifestyle business with extraordinary profit potential through high margins and low operating expenses, all within a very cash-flow friendly model.
Utilizing our powerful and proprietary design software, our franchisees sell virtually everything for the interior of a window, both for the residential and commercial markets. Our extensive offering includes blinds, shades, shutters, window film, and fabric treatments such as draperies, curtains, swags, and cascades, covering hundreds of custom window treatments and accessory options.
A Message from the President
Think of me as a resource to answer any questions you may have about how we like to do business. Feel free to call at 720.407.8618 or 800.200.0835 x331. You can also email me directly at firstname.lastname@example.org
I look forward to hearing your thoughts.