The Franchisees' Challenge: Run a Business While Following Home-Office Rules

Accounting Hurdles for Franchisees

Systems & Services Chosen For You

The Home Office often dictates third-party software for operations & accounting.

Issues

  • Less freedom for owners
  • Potential discrepancies between systems

In-House Expertise is Expensive

Bookkeeping can be managed in-house with administrative staff. Accounting oversight requires education.

Issues

  • Critical accounting work can get de-prioritized due to lack of understanding
  • Replacement & cross-training is difficult

Incorrect Financials Can Cost You

Coding individual transactions incorrectly can overstate revenue and cause overpayment of franchise fees. 

Issues

  • A/R and A/P must match across all platforms
  • Overstated revenue means you'll overpay franchise fees and potentially overpay tax

Believing Sales Will Cure All Woes

The single-minded drive for sales means mundane business tasks are set aside or over-simplified.

Issues

  • Critical accounting decisions are ignored because sales is the priority
  • Expedience today can create large clean-up projects tomorrow

Blazej Business is the Ideal Accounting Partner for Franchisees

We understand the inner workings of franchises

A decade of experience means we'll see issues before they become problems

We know how to satisfy home-office needs while providing useful information to owners

Weekly

The Blazej Business Bookkeeping & Accounting Teams will do the coding or double-check internal staff.

Bookkeeping & Accounting

  1. Coding bank and credit card transactions to ensure the books stay up to date
  2. Asking questions on expenses and deposits to maintain the quality of financial reports

Monthly

The Blazej Business Accounting Teams will perform the tasks or review internal staff work.

Accounting

  1. Reconcile bank, credit card & loan accounts
  2. Review Balance Sheet and P & L - will reveal invoices/payments not exported from service software and ensure that both systems match
  3. Enter or review payroll entries
  4. Any outstanding questions are resolved with the owner

Quarterly

The Blazej Business Accounting Teams will perform the tasks or review internal staff work.

Accounting

  1. Quarterly review
  2. Review and correct unreconciled items
  3. Reconcile YTD payroll reports to financials
  4. A/R review to ensure accounting A/R balances match service software A/R

Sharing Responsibilities is Smart

  1. Fundamental business operations are delegated, leaving the owner free to focus on vision and growth
  2. Accounting expertise is available on demand as needed, as opposed to hiring an accounting manager
  3. Franchises face similar challenges so access to experienced franchise-support teams improve the learning curve
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Multiple Locations

Compare & Contrast with Meaningful Metrics

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Multiple Businesses

Keep them as separate as needed without unnecessary complications

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Reports Lenders Love

P&L statements that accurately reflect the business's condition & that reconcile with other systems

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Accounting Oversight & Training

Use in-house administrative staff for routine transaction maintenance.