Understand how a virtual CFOs knowledge and tools can take your business to the next level.
There’s an old adage that the worst presentation is the one that’s never given. This seems to be a mantra many franchisors apply to the presenting financial data in their Item 19 disclosure in their Franchise Disclosure Document (FDD). Too often, franchisors rush to publish an Item 19, despite results that might not be as […]
Navigating Item 19: Strategies for Boosting Your Franchise Sales Read More »
When it comes to franchise support, there are two areas where I see franchisors fail to meet their franchisee’s needs. These observations come from working with franchise systems of all sizes. I work with clients starting up with a couple of units to those with as many as 200 units. I was a franchisor in
Keys To Succesful Franchise Coaching Read More »
Most franchisors come to learn that they don’t make money from selling franchises. After selling and training costs are deducted from the initial franchise fee, there is often little left over. What franchisors learn is the path to lasting wealth in franchising is paved with the steady flow of recurring royalties. There are so few
Selling Franchisees Isn’t the Golden Ticket but Coaching Is Read More »
Virtual CFO services are more than a person behind a computer, crunching numbers and running reports. They are an extension of your business; an additional team member without the in-house costs. When you work with a virtual CFO you can expect the financial aspects of your business to be handled with care and detail, but
Virtual CFO Services: What Should You Expect Read More »
Small business owners face long odds – about 33% will fail in the first two years. Look out 5 years and around 50% will shut down. By far, the most prominent reason businesses fail is that they run out of money. In this article, we will discuss nine different strategies for small businesses to consider
9 Ways to Overcome Business Financing Shortages Read More »
Most business owners underestimate the importance of understanding the economics of their business model. In the same vein, most overestimate the number of factors that impact their model. When an entrepreneur understands their business model, they can truly start to implement impactful business strategy. This conversation can get more complicated for businesses with excess of
How Easily Analyzing your Business Model Drives Strategy Read More »
Small to medium-sized business owners are understandably focused on growth. Seeing your business grow is exciting, and success is often measured in how top-line revenue increases every year. Growth is a sign that customers appreciate what you are offering and that your hard work and self-reliance have paid off. But growth can be hard without
Understanding the Right Time to Hire a Virtual CFO Read More »
Managing franchises is a difficult, involved process. Franchisors feel the understandable need to focus on growth, and that can mean trouble with prioritizing finance or accounting strategies. Often, the first many hires a franchisor makes are marketing or sales professionals. This preoccupation with growth can mean that franchisors get ahead of themselves and fail to
The Accounting Department for Franchising Companies Read More »
The structure of a small business is often intricate. Finance and accounting teams are made up of many roles with different levels of authority and responsibilities. As such, it can be difficult to pinpoint the exact tasks of any given position. Small business owners are often confused when they try to determine the difference between
Demystifying Accounting Roles: CFO and Controller 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 »
