Setting yourself up for growth : from 1 store to 100

What if you could easily expand the volume of your operations and reduce back office costs?

Most franchisees believe that expanding from one unit to two or three to five has to be a significant additional investment in back office operations, meaning they need to hire more people and have more office and storage space.  That’s not true!!!!

However, the facts are that is how many franchisees still plan for growth.  Accounting is a function of the number of transactions, and how many bodies will be needed to process those transactions.  Add to that fact pattern that the typical franchisee is also attempting to manage financials with a traditional accounting software program.

Given these circumstances, it would take increased labor and a bigger building for that team to work in.  However, if you are trying to set yourself up for growth, let me propose a different way.

Start by using a fully automated cloud based system. Regardless of how many locations you have, the cloud based system “listens” to your POS, your bank, your payroll system and your vendors by recording data they send over.  If you send the data, like a paper bill, the system can receive that too.  Payments are made to vendors electronically, and financials and other reporting can be accessed anytime, anyplace and can be automatically emailed to you as well.

With a system like that, adding another location can almost be seamless.  Hooking up another location to your cloud based solution does not require hiring, training, learning, or additional document storage space. In addition, when you have a team of outsourced accountants managing that system, the possibilities for growth are endless.

What does this really mean to you?

You still need an accountant, just not as many. Using a traditional system, one accountant would be working a full 40 hours weekly to manage this for 10-15 stores.  Now, that same accountant can work 40 hours weekly to manage significantly more.

You have the quick ability to exploit an opportunity when it presents itself. No more worrying about how you will get the back-office piece moving.

Data integrity. When cloud based solutions speak to one another, it eliminates human error.  There is no “reconciling” to excel spreadsheets.

Allocations of bills among various locations is also no longer a manual process. With a traditional system, these allocations are calculated outside of the system and manually posted.

Overall increased efficiency, accuracy, and reporting capabilities.

If you are forward looking, and want to set yourself up for growth, consider your back-office operation.  Is it time for a change? If so, give me a call and let’s talk about how we might be able to help your business.

WVC RubixCloud Partners with Hospitality BI Powerhouse, ProfitSword

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