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Bookkeeping Basics: From Inquiry to Opening

Jan 14, 2019 11:31:00 AM / by Steve Schultz

You might have a general idea about what it takes to open your own franchise, but a bookkeeping franchise is a truly unique opportunity. As a prospective franchisee, you should understand exactly what you’ll be signing up for, including the nuances of our industry, the investment costs involved, the benefits of that investment, and the qualities that make a good franchisee. There are tons of franchise opportunities, but the flexibility and growth opportunity of Supporting Strategies make it stand out among our competitors. Here are some bookkeeping basics you should understand before embarking upon the franchise process.

bookkeeping basics

Industry

If you don’t know much about the bookkeeping industry, it’s been more profitable than ever in recent years. This is largely due to a strong economy in general, as well as the influx of new companies in the marketplace for us to partner with. The result? An increased need for experienced bookkeepers. With $110 billion in annual revenue, our industry is poised to grow 5.2% per year, which should be encouraging to anyone considering jumping into the bookkeeping franchise space.

Investment

All franchises are an investment which reward franchisees down the road, both financially and with resources like helpful educational materials and other technologies. Our franchisees are also given their own exclusive marketing territory, as well as a marketing kit that includes popup banners, website assistance, business cards, and brochures. We also give franchisees an operations manual, and access to our proprietary software called WorkPlace, to keep you one step ahead of the competition. You should, however, expect to pay a reasonable franchise fee, foot certain operational costs, and make royalty payments. Supporting Strategies keeps these fees as manageable as possible.

Flexibility

One of the main benefits of a bookkeeping franchise over other franchise opportunities is the ability to run your business from home. Because there is no need to rent an office space, you will save significantly on rent, maintenance, advertising, signage, etc. The flexibility to run your franchise from the comfort of your home is invaluable, as it allows you to tailor your workday however you see fit, to suit your own personal schedule.

What Makes a Good Bookkeeping Franchisee?

Franchisees are part of our Supporting Strategies family, so we need to make sure you’re a good fit for us. This is why we’ve developed a process to help us learn more about you, and for you to learn more about us. Our Discovery Experience is a fully-guided virtual tour that shows you exactly what our brand is all about. Hear directly from our CEO and Leadership Team, participate in our webinars, and learn everything you need to know about our franchise opportunity.

If you understand these bookkeeping basics and are still interested in pursuing a Supporting Strategies franchise, reach out to us today to find out how to get started.

 

Topics: bookkeeping basics

Steve Schultz

Written by Steve Schultz