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 […]
A CFO and Bookkeepers Role in Restructuring Finances Read More »
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,
From Bookkeepers to CFOs: A Primer on Small Business Accounting Read More »
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,
Understanding Finance Options for Franchise Prospects Read More »
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,
What is Your Franchise Worth? Read More »
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
Is Your Bookkeeping Creating Value? Read More »
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
Your Accountant Isn’t Your CFO, Which May Be a Good Thing Read More »
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
7 Numbers Franchising Brands Should Know Read More »
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
An Owner’s Guide to Financial Reporting Read More »
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
So Much Confusion About Strategy Read More »
Shelley Bosio opened up her small donut shop in Littleton, Colorado, in May for the first time since closing in late March. Donuts are not typically a high volume delivery item that can be sold through UberEats, so delivery was not going to work for her business. During the first two weeks of the shutdown
How to Sell Your Franchise During a Crisis Read More »
