FRANCHISE BUNDLE
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Supporting Strategies Franchise ProfileAccounting & Financial Franchises > Bookkeeping |
How to Start a Supporting Strategies Franchise?
To begin your journey as a Supporting Strategies franchisee, you will need to complete a franchise application. This step is followed by an assessment of your qualifications and a review of the franchise’s business model. If selected, you will undergo initial training that covers the operations and management of your franchise. This training will equip you with the necessary skills to deliver outsourced bookkeeping and controller services effectively. Once trained, you will be ready to establish your franchise in your designated territory.
What is the Initial Investment for a Supporting Strategies Franchise?
The estimated initial investment to open a Supporting Strategies franchise ranges from $74,570 to $98,190. This total includes a franchise fee of $60,000, along with additional costs for equipment, virtual services, insurance, and other startup expenses. It's essential to budget for these costs carefully, as they will vary based on your specific location and operational needs. Ensure that you also account for ongoing operational costs as you launch your business.
Why Choose Supporting Strategies as a Franchise Opportunity?
Supporting Strategies offers a unique business model centered around providing outsourced bookkeeping and controller services to small businesses. With a growing market demand for virtual financial services, franchisees can tap into a lucrative niche. The franchise provides comprehensive training and ongoing support, allowing you to operate efficiently without needing extensive prior experience in accounting. Their established brand reputation and operational standards can help you attract and retain clients.
Is a Supporting Strategies Franchise Right for You?
Owning a Supporting Strategies franchise can be rewarding, especially if you have a passion for helping small businesses succeed. The franchise operates in a competitive yet growing industry, requiring franchisees to actively market their services and achieve certain revenue targets. Each franchisee is expected to generate a minimum of $300,000 in annual recurring revenue after the initial two years, with an annual growth rate of at least 10%. Assess your ability to meet these performance metrics and your commitment to managing a service-oriented business before making a decision.
Supporting Strategies Franchise Financial Requirements
Below, you’ll find an overview of the initial investment needed to launch the business, along with the ongoing fees required by the franchisor to maintain operations over time.
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Supporting Strategies Franchise Unit Growth Summary
A breakdown of corporate, franchised, and total units, with yearly net changes shown in the chart and table.
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Units | 2021 | 2022 | 2023 |
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Total Units | 100 | 98 | 94 |
Net Change YoY | -2 | -4 | |
Franchised Units | 100 | 98 | 84 |
Net Change YoY | -2 | -14 | |
Corporate Units | 0 | 0 | 10 |
Net Change YoY | 10 |
Company Background
Supporting Strategies is a leading provider of business services for small to mid-sized companies, specializing in bookkeeping, operational support, and financial consulting. Founded in 2009, Supporting Strategies has rapidly expanded its footprint, operating over 80 locations across the United States. The franchise is dedicated to helping businesses grow by offering tailored solutions that streamline operations and improve financial management, allowing clients to focus on their core competencies.
Franchise Opportunity
Investing in a Supporting Strategies franchise presents a unique opportunity for entrepreneurs looking to enter the lucrative business services sector. With a proven business model and comprehensive training programs, franchisees can leverage the established brand to build a successful business. Supporting Strategies provides extensive ongoing support, ensuring that franchisees have the tools and resources necessary to thrive in a competitive market.
Corporate Structure
Supporting Strategies operates under Supporting Strategies Franchise, LLC, which was established as a limited liability company in 2009. The corporate headquarters is located in Boston, Massachusetts, where the franchise management team provides oversight and support to franchisees. The company has developed a strong organizational framework to ensure consistency and quality across its franchise locations.
Royalties
Franchisees of Supporting Strategies are required to pay an ongoing royalty fee of 6% of gross sales. Additionally, there is a marketing contribution of 2% of gross sales that supports national and local marketing initiatives. These fees are essential for maintaining brand visibility and ensuring franchisees benefit from collective marketing efforts.
Company Mission
The mission of Supporting Strategies is to empower small and mid-sized businesses by providing high-quality, reliable, and affordable financial and operational support. By simplifying complex processes and enhancing operational efficiency, Supporting Strategies aims to foster growth and success for its clients. The franchise is committed to delivering exceptional service with integrity and professionalism, ensuring that every client feels valued and supported.
Brand Story
Supporting Strategies was founded by a team of experienced finance professionals who recognized a gap in the market for high-quality bookkeeping and operational services tailored to small businesses. From its inception, the brand has focused on delivering personalized, client-centered solutions. As the company expanded, it developed a franchise model that allows passionate entrepreneurs to join its mission and replicate its success. Today, Supporting Strategies is known for its commitment to excellence and its pivotal role in helping businesses achieve financial clarity and operational efficiency.
Frequently Asked Questions
The estimated initial investment for a Supporting Strategies franchise ranges from $74,570 to $98,190. This amount does not include real estate costs and encompasses various expenses such as the initial franchise fee, equipment, insurance, and additional funds for the first six months of operation.