That’s fine—for a side hustle.
But if you’re running a franchise, especially in food, service, or retail, the numbers aren’t just a formality. They’re your business. And relying on someone else to understand them better than you do? That’s a risk you can’t afford.
Financial blind spots cost real money
We’ve seen it too many times. Operators who:
- Don’t know what breakeven looks like.
- Can’t tell you their top three expense categories.
- Think “profit” means cash in the bank.
It’s not about intelligence. It’s about priority. If you’re spending 60 hours a week managing staff, schedules, and suppliers but not checking your books, you’re steering without a dashboard.
And guess what happens when you hit a bump?
Accountants help – But they can’t drive
Good accountants and bookkeepers are crucial. They make sure your remittances are filed, your reconciliations are clean, and your reports are accurate. But they’re looking at what happened. You need to know what’s happening.
- Your rent is 18% of sales. Is that sustainable?
- Your payroll keeps creeping up. Is it staffing or wage creep?
- One unit is lagging behind. Is it marketing, foot traffic, or cost of goods?
These are questions you can’t outsource. Not if you want to grow.
Knowing your numbers – Owning your business
You don’t need to be an accountant. But you do need to speak the language. That means:
- Reviewing your P&L monthly (and actually understanding it).
- Tracking cash flow—not just revenue.
- Knowing what your franchise agreement says about royalties, marketing fees, and late payments.
- Asking your accountant the tough questions—and knowing when the answers don’t make sense.
Because when it’s time to expand, negotiate with your franchisor, or secure financing, it won’t be your accountant in the room. It’ll be you.
Here’s how to start
Not sure where to begin? Try this:
- Schedule 30 minutes each week to look at your books.
- Write down three numbers every Friday: revenue, bank balance, aged payables.
- Ask your bookkeeper for a plain-language summary each month.
- Use tools like Wave, QuickBooks Online, or Xero to keep it visual.
If you don’t understand something? Ask. If it still doesn’t make sense? Ask again. You’re the owner. You get to know.
Conclusion
Accountants are advisors. But you’re the one signing the lease, making payroll, and dealing with franchisor audits.
Don’t wait for year-end to find out you’re in trouble. Learn the numbers. Ask the questions. And make financial clarity a habit, not a panic response.
Because when you know your business inside and out—numbers included—you don’t just survive. You lead.
