Being in the franchise business brings its share of challenges and complexities. Achieving success means maintaining a foundation of good business practices, all the while staying in compliance with the many requirements that come with franchise agreements as well as branding and product guidelines. The insights and guidance shared by CPAs and franchise-experienced advisors in this whitepaper can serve the fast-financial management needs of owner operators, from start-up phase to preparing for expansion. Here’s an overview of what’s covered:

• Knowing when your business needs a CPA. Eventually, every owner-operator of a startup faces the perplexing question of whether it’s worthwhile to track down the answers to some sticky financial issues on one’s own, or if time is better served by enlisting a CPA’s expertise. To guide this decision-making process are four situations when it’s time to turn to the professionals.
• Vetting potential franchises: Critical questions that should be asked to determine this business partnership is a good fit.
• Streamlining your entire bill payment process: Moving your payment system to an online, cloud-based system managed by your CPA saves time and help you get paid quicker.
• Avoiding the pitfalls of bad bookkeeping: Bookkeeping is all about staying on track of the overall financial picture. This whitepaper provides insights on barriers that interfere with task completions and examples of these disruptions, and why they are costly missed opportunities.
• Deciding to hire a CFO or Controller: Bookkeeping and financial reporting are essential business functions. Many growing businesses reach a point where the growing financial needs meet critical mass and it’s taking focus away from running other areas of the business. Hiring a CFO or Controller represents a key milestone in the growth of any business. Knowing the function, role and value of CFO or controller is useful in determining when it’s the right time to hire this key role.