Gain more accurate data to evaluate issues,
scale operations and develop win-win
situations faster and better.
A uniquely American concept, franchising presents interesting opportunities and frequently complex challenges as well. Franchisors and Franchisees, alike, must be well-versed not only in the franchising business model but also on the changing landscape of it and a commitment to proactive, professional solutions that bring value to both sides of the model. Often though, they lack the standardized system needed for comparisons and benchmarking, they face challenges with inaccurate and untimely financial statements, limited expansion or growth opportunities due to an inability to scale or attract, and many run into issues with inventory management. Owning a franchise requires long-range strategic planning, strong infrastructure, and tight process management skills and they often have special accounting needs that generally go unaddressed.
Franchisors can leverage immense benefits from implementing these things across their franchise:
Across different industries these nuances are more pronounced – ranging from seasonality issues, high employee turnover, technology implementation and management challenges with the right point-of-sale system, menu pricing analysis, tip reporting and allocation and even royalty fee audits. While some franchisors have long ignored these system-wide challenges, the forward-thinking ones have come to rely heavily on outsourcing, in some form or the other, to address a majority of these hurdles.
As a smart sourcing partner, QBSS will give you and your franchisees more to go on. We help you see the complete picture of your organization’s finances with accurate reports and insights, frequent check-ins, and dedicated teams to see faster and better results at a fraction of the cost.
Bank Transactions Reconciled
AP Invoices Processed