Last year, the International Franchise Association (IFA) president and CEO Robert Cresanti said, “We are forecasting that for the sixth consecutive year, franchise business will grow at rates that exceed the economy-wide growth of industries where franchises are concentrated.”
That’s great news for franchisors, so long as they have the right franchise accounting software systems in place.
For those who don’t, Cresanti’s claim might be bittersweet. Franchise business growth means more employees, inventory, utility bills, and marketing budgets to manage, which can be stressful for those already feeling overwhelmed by their accounting responsibilities and back-end office workload.
If you’re one of those people who balks at the thought of major franchise growth, isn’t it time for a franchise accounting software system upgrade? What greater sign could there be that your current system is insufficient than the fact that potential franchise success causes you stress?
Today’s post is directed at those whose franchise account software systems are out of date or lacking altogether. Read on to learn what’s possible with FranchiseSoft – and how easy it easy to get started.
Franchise account software systems make brand scaling simple
Your brand is booming. Investors and entrepreneurial types are blowing up your phone for a piece of the action. It’s time to add some franchisees to the roster.
In the past, this meant a lot of paperwork, travel time, meetings, and return visits to the accounting department to get everything set up. But FranchiseSoft puts the entire onboarding process in the palm of your hand – literally.
Saying nothing of the lead generation and marketing power of our software, here’s a glimpse of what you can do from your mobile device using the FranchiseSoft dashboard once you’ve got a buyer lined up:
- Review all lead correspondence up to now. Call logs, texts, email chains, and all other correspondence are store so you can bring yourself up to speed on leads before taking that big closing call.
- Send the Franchise Disclosure Document (FDD) electronically. Save yourself some travel time without any of the liability. Our franchise accounting software systems lets you specify user access/permissions, and track the IP address of any viewers.
- Input the new franchisee into the system with a few simple clicks. At this point, you’ll have already been tracking the lead and compiling details about their investment level, goals, net worth, and so on, which makes adding the new franchisee to the system easy. Pull data from recently closed deals to auto-fill portions of the franchisee profile.
- Flesh out the “360-degree view” of the franchisee profile with detailed information. Add info on the new franchisee’s territory, links to their unit’s social media accounts, the start dates of any corporate training programs, franchise agreement specifics, royalty details, and more.
- Assign the new franchisee onboarding tasks. Select training courses and materials from your Digital Library and assign them to the franchisee, then monitor their progress in real-time.
- Set up and review franchise invoice details. Find all the accounting info you need in one place, with billing information parsed into Marketing, Tech, and Royalty Fee sections. Set up automated ongoing fees based on fixed amounts, percentages, sliding scales and minimums. And don’t worry about sending word down to your accountants, either; our franchise accounting software system updates the accounting department automatically.
Learn more about our franchise accounting software systems
If you want this kind of accounting power in the palm of your hand, visit http://www.franchisesoft.com to take our franchise accounting software systems out for a test drive!