The fitness and wellness franchise industry is a great opportunity for a franchise business owner to find success.
From boutique yoga studios to national gym chains and wellness spas, consumers are prioritizing health more than ever. Franchise brands are stepping up to meet that demand. Rapid growth and multi-location operations bring a unique set of financial challenges. These challenges can trip up even the most seasoned and passionate business owners.
At Acctivator, we specialize in small business and franchise accounting. We’ve seen firsthand how easy it is for fitness and wellness entrepreneurs to fall into avoidable financial traps. However, we’ve also seen how careful and attentive financial planning and accounting can lead to huge success for franchises!
In this article, we’re exploring five of the most common accounting mistakes we see in this industry and how to steer clear of them.
Without a strategic partnership to help, overspending on accounts payable was becoming expensive and time consuming for this multi-unit Massage Envy franchise owner.
