How BDO and Xero assist a McDonald’s franchisee develop her enterprise

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Jennifer Antolin has been across the McDonald’s enterprise her total life. When she was 15, she spent three years working for her father at his McDonald’s franchises and discovered firsthand the rigor and work ethic it takes to make it within the restaurant business. 

After a number of years residing outdoors Canada, she determined to return and study extra in regards to the enterprise from her father. After three years of mentorship, and together with his encouragement, she bought his two McDonald’s franchises in Milton. She ran them for 4 years till the chance arose for her to buy her present 4 franchises in Guelph, Ontario. 

The transfer to cloud accounting

Making the leap from two to 4 franchises was an enormous enterprise determination, however Jennifer trusted the infrastructure on the Guelph franchises, and was keen about shifting to the college city. Nevertheless, with elevated tasks and workers, she knew that she would wish to “begin looking for methods to optimize my enterprise and search for methods to be higher, to be extra environment friendly and to be extra nimble.” So, she turned to BDO’s Cloud Accounting Companies to spice up her operations and release time to deal with her folks.

Jennifer had been taught to do her personal Revenue & Loss (P&L) statements, which was useful when it got here to studying the ins and outs of the enterprise early on however was more and more time consuming. She recollects handwriting the statements on graph paper, then having her bookkeeper format them, after which getting it to their BDO accountant on the finish of the yr. However along with her franchisee tasks rising, Jennifer knew she wanted to spice up her effectivity. 

Her accountant really useful she make the most of BDO’s outsourced bookkeeping. She was launched to BDO’s Cloud Accounting Companies group and ultimately met Lisa Crosby, a Senior Supervisor of Cloud Accounting Companies at BDO. Working with Lisa, and utilizing Xero and Hubdoc, Jennifer instantly observed that she was spending far much less time reducing checks and submitting invoices. Together with her transition to cloud accounting, she now makes use of far much less paper, which has made a constructive distinction in her effectivity and high quality of labor. 

“We had file folders filled with paper and paperwork and it simply appeared like such a waste of paper, a waste of area, and a waste of time submitting these things. Now, month-to-month, I’ve a skinny envelope that I put right into a field that has all of my info as a result of every part else is saved to the cloud,” Jennifer says.

Help from her advisor

Jennifer additionally appreciated Lisa’s ardour to go the additional mile for her shoppers. Along with having her restaurant bookkeeping and accounting below the identical umbrella, Jennifer acknowledged how Lisa and BDO have been invested in each facet of her enterprise. “We truly modified over two totally different methods this previous yr, and Lisa joined in on a number of calls to study extra about how these methods ran and the way she would be capable to successfully perceive them for her reporting as properly.” 

Lisa additionally observed an uptick in her crew’s effectivity and talent to simply customise studies to go well with Jennifer’s wants because of Xero. 

“As soon as we switched to Xero, I discovered it a lot simpler to maneuver than the outdated system. I can simply evaluation and make modifications to studies after which rapidly ship them to Jennifer when she wants them” shares Lisa.

BDO’s outsourced bookkeeping providers ship correct month-to-month monetary statements to Jennifer, which supplies her added flexibility and takes work off her plate. With Xero’s assist, Lisa can higher advise Jennifer as her enterprise grows.

“Jennifer is ready to see leads to real-time permitting her to pivot her enterprise rapidly, if wanted. In the case of her year-end, there are not any surprises and the least quantity of changes are required because of the advantages of cloud accounting” explains Lisa.

The Hubdoc software program has additionally allowed Jennifer to extend effectivity exponentially and has lower down considerably on back-and-forths along with her supervisor. Her time importing paperwork has been lower in half, and she or he finds the software program extremely user-friendly.

“There’s far fewer questions on a month-to-month foundation for my supervisor. Beforehand we have been sending studies backwards and forwards just a few instances earlier than they may very well be finalized, however that is not the case. That’s one other enormous win for me” says Jennifer.

Rising her enterprise

Jennifer is planning to open a fifth franchise. Because of her elevated flexibility and time saved on paperwork, Jennifer can deal with operating her eating places whereas additionally rising her enterprise.

Jennifer says, “Realizing that there’s anyone there supporting the wants of my enterprise and accessing a cloud accounting platform that’s straightforward for me to make use of permits me to maintain my deal with my folks and operations. Having Lisa is a superb help for me and she or he’s there to assist me with any questions I’ve in the case of funds.”

From her early days within the enterprise handwriting P&Ls to now utilizing BDO’s outsourced bookkeeping providers and Xero cloud accounting software program, Jennifer has seen a major uptick in her productiveness and her franchise’s monetary success. She has taken the hard-earned enterprise classes from her father into the twenty-first century, and thru partnering with BDO and Xero, the sky’s the restrict.

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