Specialist franchise accountants for petrol retailers & forecourt operators.
We have been building valued partnerships with fuel retailers in the franchise sector for over 80 years. Today, we continue to work alongside franchises across the country to develop the necessary skills and culture required for your business to flourish. We’re confident that our specialist team can help you to overcome the needs and pain points presented by such a niche industry.
As a forecourt operator, you’ll be no stranger to the unique needs of your sector and, therefore, the importance of a robust and efficient management reporting system. Our full-service franchise accounting solution aims to tackle the needs of your fuel and retail business head-on, by:
- Allowing you to make more informed decisions, with our analysis of your financial statements, creating detailed reports which highlight key information to understand your financial health.
- Ensuring your compliance with UK tax regulations, minimising tax liabilities and meeting obligations, as well as planning well-ahead for deadlines.
- Assisting with regular stock auditing, to track trends across fuel and non-fuel sales, enabling confident inventory management across each of your business’ revenue streams.
- Minimising unnecessary overheads through efficient budgeting, empowering you to grow the profitability of your business whilst complying with franchise costs.
- Managing the risks associated with fuel retail, so that internal controls are in place to help mitigate loss due to market shifts, fraud and theft.
- Ensuring that your business operates in compliance with employment law regulations and protecting you from mistakes, with our outsourced payroll, auto enrolment and HR solutions.
Our comprehensive service offering is delivered using high-performance cloud accounting technology that integrates seamlessly with your business’ operations. Using this, we are able to provide real-time results so that you have the insight to make fast, informed decisions with your business’ best interests at heart. Our accounting system combines the applications most beneficial to the smooth operation of your franchise, facilitating collaboration between your team and ours 24/7. We’re always looking for new ways to develop our services, keeping up with the latest advancements in the world of accounting.
As a member of the British Franchise Association and Association of Convenience Stores, we are committed to delivering practical and innovative accounting solutions to forecourt operators & fuel retail franchises nationwide. Both membership bodies allow us to keep informed on the issues that affect you the most, so that we can understand how our service offering can be adapted to tackle potential issues.
Why wait to begin transforming your business’ accounting system? Get in touch with a member of our QFP-status team today!
FAQs
Why should I work with a specialist franchise accountant instead of a standard accountant?
Our experience with franchises spans over 80 years, so we understand just how different they are to other more typical business models. Each member of our team has a detailed understanding of the contracts and specifics for each franchise group that we work with, including add-ons such as niche services or products and royalty costs to the franchisor.
How will regularly completing management accounts benefit my business?
Regular management accounts will help you to identify specific profits and losses that could drive positive change within the wider franchise. For example, recent management accounts carried out by our team highlighted more losses than profits due to retail prices set by franchisors remaining at less than their purchase cost.
How often should I be completing my management accounts?
We would recommend that you carry out detailed management accounts at least monthly. Our team operates a strict turnaround on deadlines for you; often weekly, bi-weekly or monthly. The more often you complete management accounts, the easier it is to identify trends in your profits and losses!
What robust software should I use?
We are Xero Platinum Partners, which means we’re experts in using Xero’s cloud accounting technology to support your needs. Xero’s software is user friendly and compatible with a number of apps that can help to streamline operations across your business.