Resources
Guide to Fractional CFO Services
CFO’s Small Business Financial Report Guide
Articles
Is Your Franchise a Good Investment?
Of the 3,800 concepts that are currently franchising, over 25% have 0 franchised units. Going up to the next tier of 1-25 units, you’ll find another 36% of franchised concepts. A report by FranchiseGrade further shows that after two years of trying to franchise, 65% of concepts sell no locations. It shouldn’t come as a
You Could Be Losing Big If You Aren’t Tracking Marketing ROI
No matter the size of your business, you are most likely spending money on marketing. In total, companies in the United States spent $2.1 trillion on marketing in 2019. To put that in perspective, that represents about 10% of the total US GDP (healthcare spending ranks just a little higher at 17%). In other words,
Demystifying Financial Modeling
Most clients I talk with don’t realize that financial modeling is usually just a financial tool that is created in Microsoft Excel. When I first bring up modeling, most tell me their business isn’t sophisticated enough to warrant modeling. In this article, we’ll discuss what modeling is, why you might want to create a financial
A CFO and Bookkeepers Role in Restructuring Finances
The COVID-19 virus has created an economic crisis that is unique. While many have seen a financial crisis before, we have not seen one that has touched so many components of the economy. During the downturns we saw during the early 2000s, there were large areas of the economy that were left untouched. Because of the vast swaths
From Bookkeepers to CFOs: A Primer on Small Business Accounting
Growing a business is hard, and there are many documented reasons why. However, there is a reason that you don’t see discussed as often. Smaller companies struggle to fill the same functions as a large business, albeit at different levels. Before going further, let’s differentiate between function and employee. An employee may be a bookkeeper,
Understanding Finance Options for Franchise Prospects
In early 2020 I was talking with the franchisor of a gym concept in Texas. Let’s call the franchisor Dave to make things easier. “Dave” and I were walking through his sales and finance process. Four years earlier, Dave had opened up his first store. A year later, he opened up his second store. One of his clients,
What is Your Franchise Worth?
Andy Bell was tired of the corporate world after 17 years in the food and beverage industry. In 1998, he founded his own franchise Handyman Matters in Lakewood, Colorado. Over the next 21 years, Bell would build the system to 57 franchisees collectively employing approximately 250 handymen and women in 121 territories across 23 states. In 2019,
Is Your Bookkeeping Creating Value?
A commodity is a basic good that is interchangeable with other goods of the same type. For example, silver is a commodity. That is not to say silver does not has value. However, if you were in the silver market, you would not care if you got it from Vendor A or Vendor B. Why? Because silver is silver. The raw
Your Accountant Isn’t Your CFO, Which May Be a Good Thing
In late 2019, I had coffee with a father-son ownership team for a Denver-based food manufacturer. It was a casual coffee that I attended as a friend who was looking to invest in their company. While they firmly believed in the product, they had questions around their strategic direction. During this discussion, I suggested looking
7 Numbers Franchising Brands Should Know
We are all sometimes guilty of living in our own little bubble. In business, it is vital to know what is going on around you. I have learned in my time in franchising that if you are experiencing a problem or issue, several others are going through the same. In the spirit, here are seven
An Owner’s Guide to Financial Reporting
I often read articles that point to characteristics that help some be better equipped to own a business than others. I work with enough business owners to know that people with all different types of strengths can succeed. However, no matter the skill set, there are two traits all business owners seek – answers and
So Much Confusion About Strategy
Tesla is a company that evokes emotion in some. If you are a short term investor, that emotion is often confusion and bewilderment. The company has made long-term investments while shrugging off short term profits. As a result, Tesla has posted huge losses. Still, its largest shareholder, Elon Musk, continues to invest millions of dollars