There are over 234,000 auto shops in the United States alone, and each comes with its own complications and challenges. Whether you have an auto care shop or own a franchise, you can use outsourced accounting to rise above the challenges and turn them into opportunities.
Common Challenges for Auto Care and Franchise Owners
Here are some of the most common challenges auto care and franchise owners face and how upgrading from in-house to outsourced accounting can power your success.
- Getting financials completed on time and accurately
- Making sure financials are done in a way that ensures they pass audits
- Managing vendor relationships, as well as financial interactions with each one
- Dealing with shrinkage due to theft or lack of process controls in the shop
- High operational costs
- Either not having a qualified office manager or bookkeeper to run your accounts or having an accountant that simply doesn’t understand the auto care business
- Not being able to strike a work/life balance