Seeking to help you on the Way

GROWING YOUR FRANCHISE BUSINESS

MONTERY JACKS CASE STUDY

Monterey Jacks Is a fast-rising restaurant business.

We initially engaged Roden Associates’ to help us solely with bookkeeping and payroll duties. We had been working with an in-house bookkeeper, however due to the growth of the businesses and franchise operation, we quickly realised that out-sourcing these duties was the correct choice – alleviating the management of in-house capabilities, allowing us to concentrate on growth of our brand whilst placing these duties in a ‘safe pair of hands’.

MontereyJacks contacted Roden Associates to take care of our bookkeeping and payrollneeds. We needed management information that would help us plan for the future. Roden Associates immediately set to work.

Bookkeeping and Payroll Tasks

were systematized into simple and reliable systems that ensured accuracy by eliminating paperwork and bottlenecks.

Our management staff were also trained to understand and effectively use these systems.

Accurate Financial Records tracking funds across our restaurants and franchises often means that there are a higher than usual number of inter-company charges, So,in addition to preparing accurate records of bank, sales and purchase

transactions, Roden Associates help us create and maintain accurate records of these transactions each month.

Compliance Work: Roden Associates’ took over the care of our VAT, PAYE, and overall bookkeeping and payroll to keep us HMRC compliant.

They look after everything for us – from VAT Compliance checks to Payroll and Workplace Pension Administration.  This saves us hours each month and ensures we are always on top of the legal requirements.

In conclusion Monterey Jack’s have been extremely satisfied with the level of care afforded to us by the Roden Associates’ team. Our requirements have grown expedentially and Roden Associates continue to rise to the challenge of these needs whilst maintaining a ‘personal touch’.

We are proud to have assisted with the growth of their firm at a time when our own has gone through dramatic growth. Growth is the easy part – maintaining growth and stability in these times requires strong financial reporting, forecasting and attention to detail – with solid, honest advice from your financial team. Roden Associates continues to provide this.

Meeting the Challenge

Launching and running a franchised business is exciting – but there are, of course, many challenges along the way.  High up on that list of challenges is getting the financial systems right – get this wrong and your whole business is at risk!

Setting up the financial systems

We all know that successful franchising is all about systems – and setting up easy-to-use, accurate and cost-effective financial systems for your franchisees is vital.

At Roden Associates we provide advice and assistance to help you select the best systems for your business and implement these across the franchise – providing online training and set-up help for you and your franchisees.

Keeping the Records Up-to-Date and Accurate

It’s no good having great systems if they are not kept up-to-date!  We all know that it’s very easy to let things slip but record keeping is not just about completing VAT and tax returns – it’s a vital part of business management. 

Our book-keeping team ensure that the data is collected, input accurately and checked for errors – not only keeping your franchise compliant but ensuring that decisions are made based on accurate data!

Providing Accurate and Informative Monthly Reports

Once all the data has been input our Client Manager monitors the franchise businesses and provides monthly reports, discussing these with the management team each month and assisting with decision making.  These are tailored to your franchise.

We ensure your Franchises are always compliant, meeting HMRC deadlines, and that the information you receive from the Franchises is up-to-date and correct.

Setting up Monitoring Franchise Benchmarks

All Franchisors need to monitor the franchised businesses in order to provide timely help and encourage success.  One under-performing business can threaten the whole franchise!  Our Client Manager and the team at Roden Associates will ensure that Benchmarking is accurately maintained and reported on each month – and will flag up any issues as they arise – protecting your business reputation.

Looking Ahead

One of the main causes of Franchise failure is simply running out of cash!  Our budget and cashflow systems ensure that you are always ahead of the game, preparing for the highs and lows in cashflow and reserving money for investment to ensure growth. 

Paying the Employees

The task of managing payroll and pension responsibilities is becoming ever more complex.  Our payroll team will look after all your payroll, workplace pension and HR requirements across the franchise – leaving you and your franchise owners free to manage the business without worrying about this time-consuming task.