Indevia accounting

Anjali Purkayastha Director of Sales & Marketing

What Should You Know Before Opening A Franchise?

An Accounting Perspective

Cash vs. Accrual Basis • Decide on an accounting method before you open your store!

Opening Costs • Track, track, track!

Tax Strategy • Talk to your CPA about: • Your state’s tax laws • Depreciation strategy for items such as ovens • Writing off store opening expenses • Good bookkeeping habits

Benchmarking • Improve profitability of franchisees and franchisor

Key Takeaways • Track all opening costs • Put bookkeeping procedures in place before your store opens • Plan a tax strategy with your CPA before your store opens • Gather data for benchmarking “Spectacular achievement is always preceded by unspectacular preparation.”

-­‐ Robert H. Schuller

Anjali Purkayastha Director of Sales & Marketing 714.409.3239 anjalip@Indevia.com www.indevia.com