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.
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.