- Franchise 500 Rank
-
N/R Not ranked last year
- Initial investment
-
$51K - $68K
- Units as of 2020
-
5 400.0% over 3 years
Flaherty Solutions is a financial bookkeeping service employing experts to provide up and coming business owners with an understandable, accurate, and deep understanding of their financial positions. Business owners may be able to leave the accounting work to Flaherty Solutions while focusing on their business's growth.
Founded in 2012 by Erin Flaherty, the brand has become a full-fledged business. It began to franchise in 2019, and has since opened multiple units nationwide. Flaherty Solutions offers QuickBooks audit services, sales and use tax filing, monthly bookkeeping, and 1099 e-file services.
Why You May Want to Start a Flaherty Solutions Franchise
Flaherty Solutions' central goal is to deliver high-quality services to all its clients. Flaherty Solutions seeks potential franchisees who will maintain its reputation and have the same ambition to explore various demographics that fit its business model.
In addition to that, an ideal franchisee should have strong social and marketing skills and high levels of credibility. They should be self-driven, organized, and have good time management skills. Being technologically savvy may be an added advantage.
Opening a Flaherty Solutions franchise may offer a more predictable outcome than investing in a completely new brand that could struggle to thrive in an already crowded and competitive industry.
What Might Make a Flaherty Solutions Franchise a Good Choice?
Many small and medium businesses do not have the knowledge and resources to help manage their taxes, data, and the required financial information. Flaherty Solutions may bring a new business perspective that fills the market demand with quality bookkeeping services and support. The franchise understands that exemplary customer satisfaction and ever-improving services are what improve customer loyalty. Franchisees are responsible for managing the business, hiring qualified employees, and implementing policies.
To be part of the Flaherty Solutions team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include royalty fees and advertising fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements.
How To Open a Flaherty Solutions Franchise
If awarded a franchise, franchisees receive a great deal of support from the Flaherty Solutions brand throughout the process. In addition to pre-opening training, franchisees receive support through brand awareness, marketing, research, and construction. Flaherty Solutions franchisees also receive hands-on training and continued support after their franchise location has opened.
Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the Flaherty Solutions franchising team various questions.
Also, ensure that you carry out research in your local area and see if Flaherty Solutions would do well with your local small and medium business owners. A typical franchise agreement runs for five years. Franchisees may be allowed to renew their agreement if they meet the Flaherty Solutions requirements.
Company Overview
About Flaherty Solutions
| Industry | Financial Services |
|---|---|
| Related Categories | Business Financial Services |
| Founded | 2012 |
| Leadership | Erin Flaherty, CEO |
| Corporate Address |
209 West St. Annapolis, MD 21401 |
| Social | Facebook, Instagram |
Business Overview
| Franchising Since | 2019 (5 years) |
|---|---|
| # of employees at HQ | 6 |
| # of Units | 5 (as of 2020) |
|
|
|
Information for Franchisees
Here's what you need to know if you're interested in opening a Flaherty Solutions franchise.
Financial Requirements & Ongoing Fees
Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
|
Initial Franchise Fee
|
$40,000 |
|---|---|
|
Initial Investment
|
$50,600 - $67,600 |
|
Net Worth Requirement
|
$100,000 - $1,000,000 |
|
Cash Requirement
|
$50,000 - $300,000 |
|
Veteran Incentives
|
10% off franchise fee |
|
Royalty Fee
|
7% |
|
Ad Royalty Fee
|
3% |
|
Term of Agreement
|
5 years |
| Is franchise term renewable? | Yes |
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
| On-The-Job Training | 15 hours |
|---|---|
| Classroom Training | 8 hours |
| Ongoing Support |
Newsletter
Meetings & Conventions
Grand Opening
Online Support
|
| Marketing Support |
Social Media
Website Development
Email Marketing
|
Operations
Additional details about running this franchise.
| Is absentee ownership allowed? | No |
|---|---|
|
Can this franchise be run from home/mobile unit?
|
Yes |
|
Can this franchise be run part time?
|
Yes |
| # of employees required to run | 3-7 |
|
Are exclusive territories available?
|
Yes |
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