As an owner or accounting and financial manager for a single or multi-location restaurant, you may know that bad accounting practices play a major part of why 25% of restaurants close or sell within the first year.
If you are reading this article, then you are one of the select few who wants to gain insight to ensure every step is taken to keep your restaurant on track for success. If you are a new or, have been in business for years, selecting the right restaurant accountant can be the most important decision you make in securing the success of your restaurant.
Trusted CFO Solutionsworks with multi-location franchise ownersto find money, save time, and provide growth advice. As a result, we come across common problems unique to the franchises, and to further equip and support our customers we’ve put together the following resource link center to help understand, resolve, the many problems franchise owners face.
Are You Ready to Regain 50% of Your Time & Add More Money To Your Business?
As a CEO or CFO, you want to significantly increase the efficiency and function of your finance department. Imagine what you could do if you regained 50% of your time and saved your company thousands of dollars?
Client Interview: Stars And Strikes Survives The Challenge Of Change And Saves Time And Money!
When we sat down to talk with Debby Ritnour, the second employee at 14-year-old Stars and Strikes, and Controller of thirteen locations, she didn’t hesitate to tell us how monumental a task it was for her and her team to make the switch from Quickbooks to Sage Intacct for nine of their stores.
Franchises: Are You Ready to Take Your Time Back and Boost Your Capacity For Growth?
Sage Intacct is structured to work well with multi-location franchisers. We show you how you can increase the numbers at your best-performing stores, how to create the benchmarks, and then drive the performance at the worst-performing stores.
When Migrating To Sage Intacct, Bring Your Historical Data Along For The Ride
What happens to my financial history (even the old stuff) when it comes to switching systems? Does the baby go out with the bathwater?
The short answer is, you can bring your historical data with you, and when we migrate that data as part of your implementation, you’ll get the opportunity to leverage that data in ways you’ve never been able to do before.
With Trusted CFO Solutions Your Capacity for Franchise Growth Increases
How well does your current financial solution serve you and your franchise team?
We show you how to get the numbers you’re getting at your best-performing stores, and how you create benchmarks to improve performance at the worst-performing stores.
“Maybe it’s (finally) working. Maybe demand is up, opportunities keep presenting themselves and people want to work with you. So why are you so stressed out? It might be because different organizational choices lead to different paths for growth.”
Joe’s career has focused on helping early-stage franchisors achieve their expansion goals while avoiding common industry pitfalls. Clients often remark that he brings order to the chaos of the start-up process, and bestows peace of mind for their franchise’s future. Joe shares his insight for franchising in this Powerpoint presentation.
Digital Marketing Strategies for Franchises (Infographic)
Here’s how to use the power of search, social media, email, and more to increase your visibility. As more and more entrepreneurs open franchises in the U.S, the competition is becoming fiercer. Fortunately, there are plenty of ways to make your franchise stand out and succeed in this crowded market, starting with effective digital marketing strategies.
“Have you heard of the two percent time bomb? The accumulation of numerous small, yet overlooked, expenditures will lead to a high-pressure situation. Stop throwing money away, and keep your doors open for business!”
Watch this webcast now and learn how to shepherd those dollars for minimizing wasteful spending and maximizing your income. What you learn in this session from Dixie McCurley & Steve Gross could be the difference between your restaurant succeeding and failing.
The ONE Thing: The Surprisingly Simple Truth Behind Extraordinary Results
The ONE Thing is a book for busy people.
Authors Gary Keller and Jay Papasan demonstrate that the results you get are directly influenced by the way you work and your choices. You’ll learn how to identify the lies that block your success and the thieves that steal time from your day. By focusing on your ONE Thing, you can accomplish more by doing less. What’s your ONE Thing?
These Are The Reasons To Outsource Your Back Office
“Business operations are undergoing a sea change of disruption caused by many factors. First, globalization has created markets and demand for almost all products purchased online and delivered by global systems to anywhere for anyone. Second, labor skills and costs are now distributed around the world, so customer support and administrative activities are now performed by a qualified and educated workforce around the world.”
“Looking at the latest franchise marketing trends, we will uncover several easy tactics to turn social media platforms into powerful marketing channels to build brand awareness while ensuring brand consistency, acquire more leads for your franchisees, turn social networks into an effective recruitment tool, improve customer service, turn followers into brand advocates, and generally take your franchise marketing to a whole new level.”
“SEO is commonly viewed as one of the most challenging marketing activities to orchestrate across a national-to-local network. In addition to trying to figure out how to “win” at SEO in general, franchise businesses also often face the unique dilemma of needing multiple sites from the same domain to rank well in search results. Localization no doubt comes to mind immediately as the solution to this problem.”
The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It
“Michael Gerber dispels the myths surrounding starting your own business and shows how commonplace assumptions can get in the way of running a business. He walks you through the steps in the life of a business from entrepreneurial infancy, through adolescent growing pains, to the mature entrepreneurial perspective, the guiding light of all businesses that succeed.”
While franchising’s prevalence in the U.S. economy indicates that franchisees can succeed, hundreds of franchisees fail each year. The most frequent causes: lack of funds, poor people skills, reluctance to follow the formula, a mismatch between franchisee and the business, and poor management. Often, it’s the small stuff that separates winners from losers.
IDEMA. A Framework For Capturing & Sustaining Ideas.
IDEMA, Ideate > Discover > Execute > Maintain > Audit, is a problem-solving structure that helps organize a business. It guides the creation process for making a living blueprint for your project, department, or company. Every idea has a place, where does it now belong?
“Process Management frees you from worrying about all the details. Keep your team organized. Assign or automate tasks. Track progress. Train new employees.”
Financial models are the track to run on to measure each operating component of your franchise company. It has taken years to develop customized franchisor financial reports. These are the most important executive tools to start your franchise company, and yet they do not exist in the open market.
“When considering finance options for a franchise opportunity, the best strategy is to take a personal inventory of your resources first, before deciding on one path or another. There are many creative options and strategies to utilize.”
13 Mistakes New Franchisees Make — And How To Avoid Them
On its face, opening a franchise may seem like a simple way to run your own business. But beware, rarely is business simple and in the franchise world, the business is never really yours.
Do Things the Hard Way Every Once In a While to Improve Your Process
If you can do something the easy way or the hard way, why would you ever pick the hard way? While the easy way is fine most of the time, you might want to try the more difficult path every once in a while to learn how to improve your process.
In 2015 Creative Approach’s President and Co-Founder, Cale Kell realized their manual way of managing their finances on Excel spreadsheets was not going to work. With the 4x growth their company had experienced, they needed a better way. After using Quickbooks they quickly realized it was difficult to use, hard to understand, and fragmented for their business model, a one-stop-shop for print and social media marketing.
CEO Mark Hornbuckle started HB Next, a Safety & Environmental Compliance Services company, in 1999 using Quickbooks for their financial management. An unusual CEO, Mark, was also the one in control of the books and financial reporting. As his company grew, he moved to Quickbooks Enterprise edition, where they soon faced an inevitable crash of their system due to the volume of transactions processed.
