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Franchise 500 2023
Franchise 500 Rank
N/R Not ranked last year
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Initial investment
$51K - $68K
Units as of 2020
5 Increase 400.0% over 3 years

Flaherty Solutions is a financial bookkeeping service employing experts to provide up and coming business owners with an understandable, accurate, and deep understanding of their financial positions. Business owners may be able to leave the accounting work to Flaherty Solutions while focusing on their business's growth.

Founded in 2012 by Erin Flaherty, the brand has become a full-fledged business. It began to franchise in 2019, and has since opened multiple units nationwide. Flaherty Solutions offers QuickBooks audit services, sales and use tax filing, monthly bookkeeping, and 1099 e-file services.

Why You May Want to Start a Flaherty Solutions Franchise

Flaherty Solutions' central goal is to deliver high-quality services to all its clients. Flaherty Solutions seeks potential franchisees who will maintain its reputation and have the same ambition to explore various demographics that fit its business model. 

In addition to that, an ideal franchisee should have strong social and marketing skills and high levels of credibility. They should be self-driven, organized, and have good time management skills. Being technologically savvy may be an added advantage.

Opening a Flaherty Solutions franchise may offer a more predictable outcome than investing in a completely new brand that could struggle to thrive in an already crowded and competitive industry.

What Might Make a Flaherty Solutions Franchise a Good Choice?

Many small and medium businesses do not have the knowledge and resources to help manage their taxes, data, and the required financial information. Flaherty Solutions may bring a new business perspective that fills the market demand with quality bookkeeping services and support. The franchise understands that exemplary customer satisfaction and ever-improving services are what improve customer loyalty. Franchisees are responsible for managing the business, hiring qualified employees, and implementing policies.

To be part of the Flaherty Solutions team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include royalty fees and advertising fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements. 

How To Open a Flaherty Solutions Franchise

If awarded a franchise, franchisees receive a great deal of support from the Flaherty Solutions brand throughout the process. In addition to pre-opening training, franchisees receive support through brand awareness, marketing, research, and construction. Flaherty Solutions franchisees also receive hands-on training and continued support after their franchise location has opened.

Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the Flaherty Solutions franchising team various questions. 

Also, ensure that you carry out research in your local area and see if Flaherty Solutions would do well with your local small and medium business owners. A typical franchise agreement runs for five years. Franchisees may be allowed to renew their agreement if they meet the Flaherty Solutions requirements.

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Company Overview

About Flaherty Solutions

Industry Financial Services
Related Categories Business Financial Services
Founded 2012
Leadership Erin Flaherty, CEO
Corporate Address 209 West St.
Annapolis, MD 21401
Social Facebook, Instagram

Business Overview

Franchising Since 2019 (5 years)
# of employees at HQ 6
# of Units 5 (as of 2020)

Information for Franchisees

Here's what you need to know if you're interested in opening a Flaherty Solutions franchise.

Financial Requirements & Ongoing Fees

Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee Information Circle
$40,000
Initial Investment Information Circle
$50,600 - $67,600
Net Worth Requirement Information Circle
$100,000 - $1,000,000
Cash Requirement Information Circle
$50,000 - $300,000
Veteran Incentives Information Circle
10% off franchise fee
Royalty Fee Information Circle
7%
Ad Royalty Fee Information Circle
3%
Term of Agreement Information Circle
5 years
Is franchise term renewable? Yes
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Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

On-The-Job Training 15 hours
Classroom Training 8 hours
Ongoing Support
Newsletter
Meetings & Conventions
Grand Opening
Online Support
Marketing Support
Social Media
Website Development
Email Marketing

Operations

Additional details about running this franchise.

Is absentee ownership allowed? No
Can this franchise be run from home/mobile unit? Information Circle
Yes
Can this franchise be run part time? Information Circle
Yes
# of employees required to run 3-7
Are exclusive territories available? Information Circle
Yes
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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise or business opportunity by Entrepreneur Media. Our listings and rankings are solely research tools you can use to compare opportunities. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise or business opportunity. That should include reviewing the company's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees/licensees/dealers.
Updated: December 12th, 2022