There are a lot of things that work in your franchise model – a recognized brand name, resources from the franchisor, and standard systems and processes for your products and operations. However, they don’t always connect to the finances in your business. Numbers should mean more than reports from the corporate headquarters, the locations in your region, or the page in an operations manual. Numbers should drive your decisions, your business relationship with the franchisor, and your future expansion and profitability.
Helping Balance Financial Independence & Franchise Requirements in Your Business
One of the things you appreciated about starting your franchise was how turnkey the opportunity was. No forming a brand, a concept, a product – just sign, startup, buildout, and get selling. At EWH Small Business Accounting we have a proven system for working with franchises as well. During our complimentary consultations, you’ll learn about your financial challenges, franchise systems, and goals for expansion. We’ll review things like your cash flow, fees, reporting requirements, and help you understand how we fit the franchise model, providing turnkey accounting, bookkeeping, and payroll services.
Financial Challenges and Solutions for Franchise Owners
Whether you are a fast food restaurant, a dry cleaner, oil change shop, hotel, or fitness center, franchisees face truly unique concerns with their financial management:
And, above all, staying competitive in a highly competitive market, often competing with your own brand and locations!