Supporting Strategies offers outsourced bookkeeping and controller services tailored to small businesses. The franchise provides financial management solutions to improve business operations.
Key Insights
- Supporting Strategies emerged from a need to provide outsourced bookkeeping and operational support to small businesses, evolving to meet the growing demand for accessible, professional financial management services. The franchise has developed a robust operational framework designed for scalability and consistent service delivery.
- The business operates as a distributed network, leveraging technology to connect skilled professionals with clients requiring accounting, bookkeeping, and fractional CFO services. This model allows for flexibility and efficient resource allocation across a broad client base.
- The industry Supporting Strategies serves is integral to the success of small and medium-sized enterprises, focusing on financial clarity and operational efficiency. The demand for outsourced financial functions continues to grow as businesses prioritize core competencies and seek expert support.
Franchise Fee and Costs to Open
Exploring the financial picture of Supporting Strategies gives insight into both the upfront commitment and the potential revenue opportunity. According to FDD Item 7, opening this franchise typically involves an investment in the range of $74,570 - $98,190, along with a franchise fee of $60,000 - $60,000.
Financial Performance and Revenue
Yearly gross sales of $434,204 and estimated earnings of $78,157 - $108,551 show the potential financial performance of this franchise. These figures are crucial for prospective franchisees as they help to project revenue and profitability. They offer insight into the business's ability to generate income and can be used to compare its performance against other investment opportunities. The Franchise Payback Period of 1.9-3.9 provides an estimation of the time it might take for an owner to recover their initial investment. This metric is a key consideration for anyone evaluating the financial viability of a franchise, as it relates directly to the speed at which the business can become profitable. A shorter payback period can indicate a faster return on capital, which is a significant factor in making an informed decision about a franchise investment.
Training and Resources
Supporting Strategies provides comprehensive initial training for new franchisees. This intensive program is conducted virtually over two weeks, offering a deep dive into operational systems and business development. Supporting Strategies offers ongoing support through a dedicated franchise success team and provides access to a library of resources. This includes marketing materials and operational best practices. Supporting Strategies recommends a structured approach to building a successful business.
Legal Considerations
Legal considerations for a Supporting Strategies franchisee are outlined in the Franchise Disclosure Document (FDD) and the Franchise Agreement. Note that this franchise discloses lawsuits and/or bankruptcy information in its FDD, which may impact your evaluation. Subscribe now to access more details and be sure to consult a qualified attorney before proceeding.
Challenges and Risks
A franchisee may encounter challenges related to acquiring and retaining skilled personnel, particularly those with expertise in financial administration. Navigating local market dynamics and establishing a strong client base amidst existing service providers presents another consideration. Furthermore, the operational complexity of managing diverse client needs and maintaining service quality requires robust internal systems and processes.
Franchise Datasheet
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