Affordable online accounting and financial control for franchise networks and franchisees
We’re small-business specialist accountants. We do nothing else. That’s why we have completely redesigned the way an accountancy service works for small businesses, to suit them, by harnessing simple technology to reduce the time, hassle and cost they incur. Because of the systems and technology we use, the service is ideally suited to supporting franchise networks.
We provide complete expert accountancy support and unlimited advice and we adhere to modern customer service standards, such as immediate query response. The key difference however, is that our clients all use a simple online tool to easily and securely record their financial information. This means it can easily be reported and shared, in real-time, improving accuracy, control and visibility and also reducing admin and cost.
Most franchisees don’t need an accountant to tell them how to run their business, manage their staff, or look after their clients – that’s what they are experts at, or have been trained to be by the franchise development process.
What they do need is:
A clear understanding of their business and tax obligations and costs
All of these compliance obligations dealt with accurately and on time, with minimal distraction
Related advice and support, as and when they need it, without worrying about the cost
Equally a franchisor or franchise network needs:
Robust and consistent financial controls
Visibility of franchisee performance
We deliver all of the above and more, using a simple online tool, at a cost that is likely to save your franchise network money too. Small businesses are often let down by ‘the system’. A recent report by the Federation of Small Businesses stated that, on average, they lose 12 days per year dealing with tax compliance and two thirds spend £3,500 a year in associated fees. Despite this, one in three said a lack of cashflow planning resulted in late tax payments and one in five that poor understanding of HMRC requirements led to missed HMRC deadlines.
Most franchisees will go to a local accountant for advice and compliance support. The accountant will produce their quarterly and annual VAT returns, tax returns and accounts, from hard copy or spreadsheet records produced by the franchisee. Bookkeeping support or any meaningful information about their financial position throughout the year – such as management accounts – will cost an awful lot extra. This means:
By using a modern, streamlined approach and simple online technology, combined with strong small-business accounting expertise and great customer service, we provide a better, highly scaleable alternative, often at a lower cost.