There are so many aspects to consider when starting or buying a franchise and one of them is how to track the money. This can be easy for some and very difficult for others.
Someone has to answer for the money, always.
So now you are asking why you are reading this posting. Because no one helped you set up your franchise to deal with the money. At least maybe they tried but they did not do it right. If you used a franchising company to set you up, they offered accounting "help". "Help" being that they told you that you needed an accounting program. Did they give you a procedure manual to follow? Did they customize your accounting program so when you actually get franchisees, they can do the same exact thing? Do they give you proper ways to monitor your franchisees financials so you can see what each territory is doing? Apples to Apples.
HA! Guess what? I do that. I was the corporate financial trainer for a franchise with more than 165 individual owners. I wrote the company’s financial procedure manual and did enough webinars for them. Since they brought me in after the fact, it took 2 years to get everyone trained.
lesson learned? do it right from the beginning.
You want to run a business and make sure it grows without wasteful spending. Now, because this franchise did not do this right from the beginning, they also spent more than $10,000 on additional software to monitor the franchisees financials which they did not need if they had done everything right in the first place.
I work with all industries: Retail, wholesale, restaurants, home health care. It doesn't matter what industry, you all need the same thing, canned financials, proper procedures and training.
It is so much better to get this done BEFORE you have franchisees, but it can be done after the fact though it is more costly. I want to save you money, not help you spend it. I will tell you what you need and don't need for your business. Why complicate things? You have a hard enough time building your business. Let me make your financials easy.
I offer several different packages so you can choose the one that suits you. Everything can be done virtually and if you would like on-site training, that can be arranged.ha