Every year thousands of Americans invest in franchise businesses. They are many advantages to investing in a well known franchise brand, but the primary reason; proven systems for making a profit. Even the most confident entrepreneur will think twice about starting something brand new versus investing in a franchise that has recorded years of success with dozens or hundreds of happy franchisees.
Another motivating factor is a support team and the franchisee network. While you own a franchise business alone, you are not in business alone. The franchisor regularly collects a small portion of your revenues (royalties) so they are motivated to make sure you are doing everything correctly and following their process for profits. Plus you’ll have easy access to many other franchisees who are operating the exact same business as you, just in different markets. So being able to ask questions and find solutions is fairly easy within a franchise organization, much more so than attempting to launch your own independent business.
That’s where we find Clay Whitehurst in 2022. He’s been the Enviro-Master franchisee in Raleigh, NC for a decade now. And while Enviro-Master has a history that actually goes all the back to the 80’s, with Swisher Hygiene, they have been recognized by Inc. 5000’s list of Fastest Growing Private Companies for six years in a row. Clay has gone from being one of ten locations back in 2012 to more than 80 locations in 2021.
In the video below, Clay briefly explains why Top 2 Bottom accounting services have been so critical to his business during the past decade. Clay mentions our bookkeeping services, accounting services and payroll services as well. He frequently encourages fellow franchisees to adopt these same services so that they can more easily compare numbers and results to reveal new opportunities for franchise revenues and profits.
If you are a franchisee or a franchisor looking to improve the consistency of your financial reporting systems, visit our Franchise Accounting page today and send us your contact details to learn more about T2B Business Solutions for the franchise industry.