We Help Franchisors and Franchisees Grow
Franchisors want a financial management process that gives them the ability to measure franchise performance and ensure that franchisees are compliant with the franchise agreement.
Franchisees want a system that is easy to use and gives them the data they need to make important business decisions.
Both want a system that is scalable and cost effective.
“True North provides bookkeeping, accounts receivable management, and consulting to more than 250 franchise locations in 38 states from start-up to $15 Million in sales. More than 70% of True North clients experience an uplift in business performance after engaging True North as we provide the tools management needs to evaluate performance and free the owners to focus on growing the business and building the team.”
President, True North LLC
Learn more about True North and what our customers are saying on our testimonial page.
We help franchisors build financial management processes that franchisees love and also deliver the data franchisors need to assess performance and ensure compliance with the franchise agreement.
If you are an emerging franchisor, let us take a look at your plan and make sure its set-up to meet the long term needs of your system. If you current process works but franchisees are not compliant, we can help them get back on track.
The bookkeeping process is hard and it takes the franchisee's attention away from driving revenue and building the team. True North provides turn-key bookkeeping outsource solutions to franchisees that have outgrown their current process or those going through a change in their current team.
We work with franchisees just getting started with their first location to experienced, multi-unit owners with years of experience.
How It Works!
True North works directly with the franchise owner or management group to establish a standard financial cadence that is compliant with the franchise agreement. All services are flat rate, subscription based, and billed on a month to month basis.
Using the franchisor recommended or required financial system True North will:
Review current financial reporting status and most recent tax returns to establish baseline financial data.
Reconcile bank accounts and post revenues and expenses.
Post all payments and reconcile credit card settlements.
Reconcile accounts receivable and prepare accurate aging reports.
Prepare customized, weekly accounts receivable reporting to assist with the franchisee's collection process.
Prepare monthly, quarterly, and annual financial reports in accordance with franchisor and franchisee specifications.
Provide guidance on key performance metrics as compared to industry benchmarks as part of the monthly management review process.
Provide year end financial report to franchisee's tax preparer*
Additional services available to franchise customers include Electronic Medical Billing, Accounts Receivable Management & Collections, and HIPAA Compliant, cloud based document management solutions.
* True North is a Consulting, Bookkeeping, and Operations Services Company. We do not provide Tax Advice or Tax preparation services.
Who Uses True North!
Can True North help your business? True North provides services to:
Emerging franchisors who need to establish a standard financial management process for their franchisees.
Established Franchisors experiencing rapid growth needing a trusted partner for their franchisees.
New franchises looking to build a best in class financial management process to support their growth.
Existing franchisees that have outgrowth their current financial management process.
Give us a call at (304) 459-2188 or