Depending on any financial assurances the collection of the franchise fee should occur immediately after the franchisee signs the franchise agreement, before the franchisor countersigns. Depending on the state which the new franchisee resides might change how and when you will be paid your franchise fee in full. You can look at your map in CAP to see if and where you may have a financial assurance in certain states. To learn more about financial assurances review within Chapter 3.3.
There is more than one way you can collect your franchise fee, although most nowadays collect funds though an ACH. Some franchisors still collect with checks. Be aware of the timing for processing with whichever collection process you choose. You will learn more about ACH usage within 6.3.1 when royalty collection is discussed.
There are CRMs and portal programs that can assist with the organization and collection of fees. Reach out to your Client Relations team for referrals and introductions to learn more.