If you’re a franchisee, you know the challenges of adhering to franchise rules and regulations. From corporate management systems to templated reporting to predefined processes, the daily tasks required to ensure compliance can be stressful and taxing on your resources. Add to that the solid bedrock of financial information that makes transparency possible, and it’s not surprising that so many franchisees choose to outsource their accounting/bookkeeping services.
Solid Accounting Systems
Lescault and Walderman helps to build a solid accounting system and maintain the most accurate and detailed records so that data can be quickly and easily accessed and reported on. This ensures accurate reporting for the purposes of franchise fees, sales regulations and multi-store management.
Franchise fees require strong reporting to ensure the proper amount and payment for both business owners and franchisors. This reporting can only be realized when there is sufficient attention to the critical details that the franchisor has identified.
Sales regulations require solid accounting procedures that allow for the effective tracking of individual items. These must be designed into the process for efficient and effective management.
Multi-store management requires separate but uniform records to ensure each distinct location complies with franchisor individuation. Well-defined procedures allow for the consistency that makes a unified management approach possible.
In addition, because we’ve worked with several large franchise organizations, we are able to consult on all matters of operations and management, from organizational structure to operating procedures to systems administration and beyond.
We can help you improve lease negotiations, compensation and benefit programs, and internal procedures and reviews. We can also help you assess the current net worth of your business so you have a solid basis from which to negotiate with corporate partners.
So, if you’re a franchise owner and you need a solid foundation of financial information and proven experience in corporate compliance, give us a call at 866-496-2042 and let us help you with the due diligence your ongoing success requires.
Note: We have also worked with small franchise organizations on revenue recognition, cost recognition, etc., so if you’re thinking about franchising your business concept, we can help you too!