February 08, 2011 // Franchising.com // MCLEAN, Va. – BookKeeping Express, the first U.S. franchise focused solely on bookkeeping services, today announced the launch of Franchisor Express, a program to help franchisors strengthen their franchise system with cost-effective bookkeeping services, including tax readiness, a dedicated team of bookkeepers, quality assurance, consolidated reporting, franchise business management, outsourced CFO services and consulting.
"Today, more and more franchise business owners are realizing that putting in the time to understand and analyze their financial statements is a necessity when it comes to their bottom line," said Greg Jones, CEO of BookKeeping Express. "Too often, entrepreneurs get involved in business without implementing a proper system to help them monitor what they earn and spend. A franchisee's unit economics are a crucial component with Franchisor Express, which ultimately benefits the franchise as a whole."
By working with its franchise clients to determine their needs, both at the franchisor and franchisee levels, BookKeeping Express develops a plan to maximize performance of the entire franchise system. All services are customized to each franchisor based on the concept's needs, including measuring unit performance, profitability and industry analysis. Plus, Franchisor Express provides unit-level performance improvement through administrative and revenue-generation solutions to franchise systems of all sizes in all industries.
"This program gives individual franchisees and the entire franchise system the opportunity to benefit from a wide range of reliable bookkeeping services from a single trusted source," added Jones. "Besides maintaining books and generating financial reports, we work with individual franchisees and help them understand how to read the financial documents. This allows franchisors to better understand the franchisee's business and hold them accountable for changes that need to be made."
Through Franchisor Express, franchisors and franchisees can utilize up-to-date, secure financial information in a comprehensive suite of back office solutions, including QuickBooks bookkeeping, online document management, payroll services and merchant services. All information is available through the BKE Connect system, which allows businesses remote access to all bookkeeping files through an outside server; and BKE EDocs, an electronic filing system designed to provide secure, online storage of financial documents.
"Without timely, accurate data, no organization knows its status, and the company's ability to share and evaluate financial information is impossible," said Jones. "Accurate and prompt monthly reports from franchisees are essential to staying on top of the progress of your franchise. With Franchisor Express, we automatically provide reports every month or on a different timetable if the franchise requires it."
BookKeeping Express offers a much-needed service to companies that are not equipped or do not wish to handle accounting responsibilities, such as setting up charts of accounts and general ledgers, monthly data entry, processing and managing accounts payable and accounts receivable, producing monthly reports and tax reporting. Plus, BookKeeping Express utilizes a Custom Flex Pricing Model that is based on the client's needs instead of a one-size-fits-all, hourly billing approach.
BookKeeping Express, a national company focused on providing professional bookkeeping practices to small businesses, was founded in 1984 in California and grew to over 150 locations through licensing agreements. In 2007, Greg Jones, along with Bob Stocker and Merritt Green, purchased the company and launched the new franchise model in McLean, Va. in January 2008.