- 2023 Franchise 500 Rank
N/R Not ranked last year
- Initial investment
$77K - $103K
- Units as of 2022
106 8.2% over 3 years
Supporting Strategies offers a bookkeeping franchise opportunity that sets franchisees up to succeed by striving to make their learning curve a smooth and easy one. Its business model focuses on building a strong, experienced team—one that works to hold a brilliant standard for customer service.
Leslie Jorgensen started Supporting Strategies in 2004 with the goal of becoming the preferred resource for outsourced bookkeeping and controller services. The company began franchising in 2013, growing to become part of Entrepreneur’s Franchise 500 multiple times in recent years. It's added more franchisees who believe in its entrepreneurial spirit and have a passion for helping small to mid-sized businesses succeed. Today, Supporting Strategies has over 100 offices across the United States.
Why You May Want to Open a Supporting Strategies Franchise
Supporting Strategies has been providing solution-based outsourced bookkeeping services and operational support to growing businesses. As a result, its clients get the support they need at a price they can afford, allowing them to focus on growing their business.
The company's skilled, experienced professionals use secure technology and tested processes in their full suite of services. These services include accounts payable, accounts receivable, bookkeeping, financial reporting, and payroll administration. It also allows work at home bookkeeping on a part-time basis for its professionals.
In general, Supporting Strategies offers a solid foundation for new franchisees. The company allows you to run your bookkeeping franchise according to your personal vision, allowing franchisees to understand all the benefits of a tested business model. Additionally, the brand will give you a comprehensive suite of resources, giving you a solid business model and support.
What Might Make a Supporting Strategies a Good Choice?
When you partner with Supporting Strategies, you're investing in a brand name and a proven business model that has worked for many franchisees before you. To be part of the Supporting Strategies team, you should make sure you’re financially ready for an initial investment made up of a franchise fee and other startup costs. You should also be prepared for ongoing fees, which will include advertising, royalty, and potential renewal fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements.
Supporting Strategies has striven to help many franchisees push past the typical hurdles and obstacles that new businesses tend to face. Its model is scalable and structured to provide cost-effective bookkeeping services to clients, and confronts the rollercoaster effects of economics.
The Supporting Strategies system gives you an opportunity to operate your franchise business remotely. This is probably one of the most attractive benefits, especially from a bookkeeping perspective. A home office saves money for franchisees, as they don’t need to waste unnecessary funds on office space.This will give you the potential to keep your overhead relatively low and manageable.
How To Open a Supporting Strategies Franchise
If opening a Supporting Strategies franchise sounds like something you are interested in, start by submitting a franchise inquiry form to schedule a call with someone from their corporate office, which is located in Beverly, Massachusetts. The franchise development team will meet with you to discuss your business plan and the location you're interested in.
After they've answered all your questions, they'll send over the franchise agreement for you to sign if both parties are still interested in a partnership. You and your staff will attend training seminars to make sure you're prepared to open your doors. It will likely take multiple months to make your franchise business operational.
About Supporting Strategies
|Franchising Since||2013 (10 years)|
|# of employees at HQ||20|
This company is offering new franchisees throughout the US.
|# of Units||106 (as of 2022)|
Information for Franchisees
Here's what you need to know if you're interested in opening a Supporting Strategies 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
Definition: The initial fee paid to a franchisor to join their system
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.
Definition: The total amount necessary to begin operation of the franchise
What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.
|$76,570 - $103,190|
Net Worth Requirement
Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company
What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.
Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.
Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.
|10% off franchise fee|
Definition: A ongoing fee paid to the franchisor on a regular basis.
What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.
Ad Royalty Fee
Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts.
What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.
Term of Agreement
Definition: The length of time your franchise agreement will last.
What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.
|Is franchise term renewable?||Yes|
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
|Third Party Financing||Supporting Strategies has relationships with third-party sources which offer financing to cover the following: startup costs|
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
|Classroom Training||41 hours|
Meetings & Conventions
Security & Safety Procedures
Franchisee Intranet Platform
Additional details about running this franchise.
|Is absentee ownership allowed?||No|
Can this franchise be run from home/mobile unit?
Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.
Can this franchise be run part time?
Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.
Are exclusive territories available?
Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened.
What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.
Interested in ownership opportunities like Supporting Strategies? Request a free consultation with a Franchise Advisor now.
Franchise 500 Ranking History
Compare where Supporting Strategies landed on this year's Franchise 500 Ranking versus previous years.
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