Franchise Services
So you own and operate a franchised business. Franchises report a success rate of 75% in contrast to the 50% failure rates of other businesses. The system runs the business and your people run the system. It works smoothly and profitably each and every day. Right? Even owners of franchises have challenges in running their businesses. We understand your business and have people with significant experience working with franchisees, even those who have worked as controllers in franchised restaurant businesses.
Although you have a franchise operating manual and support from your franchisor, your business probably isn’t running on auto-pilot. In fact, you’re most likely putting in a lot of hours each week and working harder than anyone else. Allen & Company can be the partner that you’ve needed to help you bring your business to life and your passion back to your business.
Our people have a lot of experience working with franchises, including those who have worked as controllers in franchised restaurant businesses. We understand your unique franchise challenges and can help you improve your business and build a business that truly runs without you. Contact Allen & Company today and take your life back.
Our franchise services include the following:
- Franchise Accounting
- Franchise Financial Statement Audits and Reviews
- Controller Assistance
- Franchise Taxation
- Franchise Business Advisory
Why Choose Allen & Company?
- We help franchise owners actually understand their financial statements and the financial health of their businesses. We can provide complimentary Financial Performance Review reports periodically to help you too make better business decisions.
- We make it easy doing business with us. We quote fixed fees for many of our services rather than hourly fees to avoid any surprises and provide payment terms for higher-value services.
- We offer large firm experience for reasonable fees. Our people have worked for international and local CPA firms, for Fortune 500 companies, and as controllers in quick-service restaurant franchises. Experience like this can be very costly at large CPA firms, but we have recognized an opportunity to provide the same service quality at more reasonable fees.
- We communicate and educate. We listen to our clients when we meet with them, e-mail newsletters that provide true value, and host educational seminars on tax, accounting, and financial improvement.
- We’ve worked with restaurant franchises such as Arby’s, Jimmy Johns Gourmet Sandwich Shops, and Uncle Maddio’s Pizza Joints as well as other franchises like Budget Blinds, OMEX, PODS, and The Grout Doctor. We’ve helped these franchises with multiple location reporting, franchise and royalty fees, and variable rent expense. And we can help your franchise, too.
Franchise Accounting
Focus on what you do well and let Allen & Company record your income and expenses, reconcile your bank statements, prepare journal entries, and prepare financial statements. Not only will we prepare financial statements, we’ll help you understand them, analyze the financial health of your franchise, and help you understand how your business compares to your competitors. After reviewing your financial statements, you can determine if your marketing methods are working or not. If not, you can react quickly and choose other methods that do work. You can also determine if you’re spending too much money and, if so, begin controlling your spending.
Financial Statement Audits and Reviews
Franchisees with multiple locations often have significant loans with financial institutions and are required to provide them with financial statements audited or reviewed by CPA firms each year. Allen & Company can help you satisfy these requirements as well as review your internal controls to ensure peace of mind.
Controller Assistance
Maybe your business hasn’t grown to the point where you need a full-time or even a part-time controller. Our controller services will be customized to meet your needs, but may include reconciling bank statements, preparing journal entries, and preparing internal financial statements. Our people have franchise controller experience and will ensure that any variable rent expense, inventory transfers between stores, franchise fee amortization, and royalty fees are accounted for correctly.
Franchise Taxation
Create more cash flow and either reinvest it in your franchise or invest it in yourself. Either way, our strategic income tax planning services can help you legally avoid or defer as much tax as possible. In addition to income tax returns, we can also provide assistance with preparing property tax and sales tax returns.
Franchise Business Advisory
With our unique business improvement advisory services, we can help you gain a new perspective on your business, develop systems to provide predictable and consistent results, use key performance indicators to see your business in the same way your customers do, improve your cash flow and profits, understand how your business compares to your competitors. And have fun again.
