Solid Business Acumen, Strong Leadership Skills, Relationship Focused, Does This Sound Like Your Client?
Most would think that an accounting degree is a must-have to own a bookkeeping company. Although helpful, if your candidate has at least a Bachelor’s degree in Business, or related field, understands fiscal management and is experienced in attracting, building, and retaining clients and high-performing teams, then a Supporting Strategies franchise might be an ideal opportunity.
About Supporting Strategies
Supporting Strategies is a home-based business model that provides outsourced bookkeeping and controller services to small and mid-sized businesses. Our offices support business growth by providing accurate and timely financials and insight. With Supporting Strategies’ proprietary, cloud-based technology platform, franchisees can grow a team of skilled and experienced U.S.-based virtual accounting professionals who work from the comfort of their own homes. Supporting Strategies franchisees must be dedicated to revenue growth while serving in the primary role of “Managing Director.” Our franchisees focus full-time on client development, primarily through networking and other referral-based business development and marketing activities.
Supporting Strategies’ corporate team fully supports you by providing training, guidance, tools, client onboarding along with marketing and talent acquisition services. Speaking of talent acquisition, Supporting Strategies is unique in that talent attraction, interviewing, Predictive Index assessment(s) and background services are included in the royalty. Your team starts with the sourcing and hire of a qualified Financial Operations Manager (FOM) and is followed by the addition of a Financial Operations Associate(s) (FOA) to support your client service needs as you grow. Financial Operations Managers and Associates are required to have accounting degrees, at least 5 years’ direct experience and exceptional operational and service skills. With 77 franchisees in the system today, Supporting Strategies has built a proven, scalable business model with highly automated systems and processes to deliver cost-effective bookkeeping services to clients. And, with our low overhead and high margins, we offer a solid, recession-resistant business opportunity with a record of success.
Highlights:
- Low initial investment
- Home-based business
- Revenue & costs closely matched
- Recurring revenue model – no A/R
- High earnings potential
- No cold calling
- Operational, marketing, talent acquisition and technology support
Supporting Strategies’ Ideal Candidate
According to Jeff Schonberg, Director of Franchise Development for Supporting Strategies, their ideal candidate has a degree in Business, Accounting, or a related field, and industry experience is a plus – not a requirement. The candidate must also be comfortable cultivating business by networking and building referral business through creating an “evangelist network”. Business Development and ‘Client Delight’ are critically important parts of the franchisee’s daily responsibilities. “Connectors” are excellent fits for the model.
An owner’s daily activities will include:
- Business Development
- Team Management
- Client Services Excellence
The following attributes are ideal for our candidate to embody, per the Zorakle profile:
First Value: Belonger – Hands-on business builder focused on long-term relationships and customer satisfaction. Motivated by a deeply rooted moral code, they are hardworking and committed to providing for and protecting their loved ones. Family and security define success for the Belonger. They favor proven, practical service or solution-based businesses.
Second Value: Achiever – A tenacious business builder, never satisfied until they dominate the market. Motivated by accomplishment, they have goal-oriented lifestyles and a deep commitment to success. Results, respect, and control define success for the Achiever. They prefer unique, scalable, quality service and business-to-business or solution-oriented concepts.
First Competency: Leadership & Vision – People with this skill set create the culture and set the pace for the business. They are analytical and visionary – taking full responsibility for all organizations’ fiscal and operational management support.
Second Competency: Sales & Channel Planning – People with solid sales and channeling skills are responsible, self-confident, and driven for success. They are good at analyzing data and assessing problem situations. They are excellent rapport builders, comfortable talking about money, and able to help others come to decisions.
The Supporting Strategies Investment
Total investment range: $77,930 – $103,190, which includes a franchise fee of $60,000
Royalty: 10%
Royalty Description: The greater of 10% of Gross Sales or 12,000 Year 2; $24,000 Year 3; $36,000 Year 4; $48,000 Year 5 and each year for the remainder of the term of the Franchise Agreement and each renewal term. Minimum Royalty will begin one year after the execution of the Franchise Agreement.
Written By: Stacie Shannon
To find out more about Supporting Strategies, check out their website here.
Follow Supporting Strategies
Franchise Contact: Jeff Schonberg
jschonberg@supportingstrategies.com
(212) 480-4900
Want to learn more about how FBA Brokers can help you find good franchises? Contact us today. Call 407-955-4566.
Note: We use the term “Franchise Broker” because it is the legal term for our profession. Others in the industry use “Franchise Consultants” which they self-define. We choose to use the legal term as we feel it’s more appropriate and clear. Consultants typically charge for services. Franchise Brokers are paid by the Seller, not the Buyer. There is no charge to the Buyer for our Franchise Broker services.
