Why choose a franchise accountant? Why choose GLG Accounting?
Are you planning on opening a hotel, fitness gym, entertainment, retail, restaurant or another type of franchise? Starting a franchise can be a substantial decision, one with many complicated aspects. Franchise Accountants are experts in working with a variety of franchises. They assist by handling the financial aspect, which will allow you to focus on the franchise. The Franchising Code of Conduct recommends that potential franchisees acquire accounting guidance. We feel it is wise to consider hiring a franchise accountant to assist with your opportunity. Franchise accountants can alleviate the burden of bookkeeping, completing franchise agreements, financial forecasts, payroll, accounting and more.
At GLG Accounting, we are known for our inventive approaches that result in achievements. With several years of experience in payroll, bookkeeping and accounting, our qualified CPAs (certified public accountants) have the skills to work successfully with you. GLG Accounting is here to help you achieve your goals by tailoring our services to meet your business requirements. As your franchise accountant, we can aid with the implementation, operation, and continuation of your franchise.
Franchise accounting services we offer include but not limited to:
- New business advisor services
Are you a new business owner? A franchise accountant can help you with the Federal and state registration process, budgeting, accounting, bookkeeping and payroll of employees. GLG Accounting can create a business plan that will encumber not only the start-up of the business but also can project for the years ahead.
- Analyzing cash flow
A franchise accountant can help to determine the liquidity of your business to ensure there are not only profits but also preventing a shortage of cash. They will not only analyze the money coming into the business, but the money going out as well. GLG Accounting can create a plan analyzing the cash flow and highlight areas in need of improvement.
- Increasing profits
Do you want to increase your profits, but not certain how? We can help by analyzing expenses, restructuring financing, reducing bad debts, maximize pricing, track investments and review the cost of labor. GLG Accountants can produce a plan to increase profits by using a variety of techniques.
- Preparation of taxes
When you run a business, taxes can come more than once a year! An accountant can keep your bookkeeping on track as well as plan for taxes. A plan to minimize taxes year round is also beneficial. GLG Accountants can either handle the tax preparation or assist your tax account with the process.
- Handling franchise agreements
Need help in drafting legal contracts between the franchise and franchisee? GLG Accounting has experience in drafting contracts in accordance with Federal and state laws.
- Analyzing cost of operation
Do you wonder what it costs to run your franchise (or potential franchise) daily? At GLG Accounting, we can calculate what it costs to keep your franchise running, as well as creating a plan to increase profits. GLG Accounting has experience in analyzing the cost of goods sold and the operating expenses to determine the operating cost. We also devise plans to reduce the cost if necessary.
- Maintenance of day to day operations
A franchise accountant can assist with the bookkeeping of the franchise to ensure all records are maintained properly. They can also process payroll to ensure compliance, send reports and to analyze employee costs. A franchise accountant can estimate the cost of employee benefits if feasible.
Risks of not hiring a franchise accountant:
As a franchisee, you are required to complete a variety of tasks relating to the business. Not delegating the financial matters to a franchise accountant can leave you at risk for many reasons. Hiring a franchise accountant allows you more time to focus on the business, which can reduce the time and travel needed to ensure all financial matters are. Not only are franchise accountants certified to handle your financial matters, but they are also familiar with the language used. Not hiring a franchise accountant leaves your business at risk of running inefficiently. If you run your business inefficiently can result in a profit loss, or even an inability to continue business.
GLG Accounting is ready to help you plan for the implementation of a franchise or to help analyze a franchise that is in business. We want to help you increase your profits and decrease your cost of operation while maintaining the integrity of your franchise. GLG Accounting is prepared to assist with your franchise needs in bookkeeping, payroll, and accounting.
Contact GLG Accounting today for all your franchise bookkeeping and payroll needs.