How Beansquad Is Revolutionizing Franchise Bookkeeping for Seamless Financial Management

As franchising continues to expand, with owners juggling operations across multiple units, the demand for reliable and streamlined financial services has grown exponentially. Beansquad is stepping into this space as a leading provider of outsourced bookkeeping, compliance and advisory services tailored specifically for both legacy and emerging franchisors and franchisees. 

Now, with a proven team with deep expertise in the franchise space, Beansquad is setting new standards for franchise bookkeeping excellence, blending scalability with top-tier support to meet the unique needs of franchise operations.

A History of Growth and Franchise Expertise

Founded in 2019 by industry veterans Lance Diamond, Mike Greenblatt, Bruce Patz and Henry Uy, Beansquad emerged from a mission to support franchise businesses with comprehensive financial solutions that prioritize scalability and efficiency. 

“We realized early on that serving franchise concepts requires both deep knowledge and specialized infrastructure,” said Greenblatt, senior vice president of development. “It’s a unique market where consistency across units is essential, and we had the labor and support systems in place to provide that reliably.”

Since its inception, Beansquad has grown impressively, supporting over 100 franchises across various industries. According to Greenblatt, 2024 has been a particularly pivotal year as Beansquad expanded its client roster with 85 new franchise clients across nine concepts. “In the first nine months of 2024 alone, we brought on almost 240 clients including expanding existing relationships with franchisors and franchisees,” he said. “This growth trajectory reflects our commitment to meeting franchisees’ needs and speaks to the scalability of our model.”

Beansquad has earned the trust of major franchise brands, including The UPS Store, Dunkin’, Subway, Cold Stone Creamery, Hammer & Nails and Baskin-Robbins, among others. The company also has a reputation for reliability and scalability, having helped grow one of its first clients from 28 to 200 units in under two years. 

“We have a track record of success in both our retail and wholesale divisions,” said Greenblatt. “This experience, combined with our connections across the industry, allows us to support clients confidently and with the highest level of accuracy.”

Beansquad’s partnerships with industry leaders like ProfitKeeper and Boefly also position the company as a top choice for franchise accounting. “We’re the only bookkeeping company in the U.S. with an exclusive partnership with ProfitKeeper,” Greenblatt said. “This enables us to offer franchisees a comprehensive financial benchmarking solution, which is critical for their growth.”

Why Choose Beansquad for Your Franchise Bookkeeping?

Beansquad’s comprehensive services are meticulously designed to address the pain points faced by franchise owners. By focusing on core bookkeeping, franchise compliance, KPI analytics and consolidated reporting, Beansquad provides a powerful framework that allows franchisees and franchisors to focus on growth while maintaining financial clarity.

“We wanted to create a solution where franchise owners feel supported in their financial management without being overwhelmed,” said Greenblatt. “With weekly financial updates, sales tax filings, compliance reporting and more, we handle the details so franchisees can focus on their core business.”

Greenblatt also calls attention to the diversity of Beansquad’s client base, which ranges from one-unit operators to large-scale multi-unit owners. “Forty percent of our clients operate a single unit, 40% manage two to four units,” he said, “and the remaining 20% handle five or more units.” This range showcases Beansquad’s adaptability to different business scales, supporting franchisees as they grow. 

As for franchisors, Beansquad allows them to leverage a team of experts that extends their bookkeeping team and ensures they can better support their franchisees.

Essential Services Tailored for Franchises

Beansquad’s offerings cover a range of essential financial functions, each tailored to streamline operations and support franchise success:

• Core Bookkeeping: “We empower franchisees with accurate record-keeping and transparent reporting so they can prioritize what matters most,” Greenblatt said. This includes weekly updates on cash flow and credit, with services designed for precision and growth-focused bookkeeping.
• Sales Tax Management: Managing over 6,000 sales tax filings annually, Beansquad provides filing and remittance services based on business frequency, ensuring compliance without the hassle.
• Franchise Compliance & Reporting: “We work closely with franchisors to understand the business and handle corporate requirements, so franchisees don’t have to worry about it,” Greenblatt said. By liaising directly with franchisors, Beansquad can ensure that every unit’s compliance requirements are met.
• KPI Analytics and Consolidated Reporting: “Our centralized reporting enhances decision making and supports a comprehensive overview of franchise performance,” said Greenblatt. Beansquad makes full use of its industry benchmarking tools to offer franchisees the insights they need to grow and succeed.

With a dedication to providing clear and impactful insights, Beansquad also offers a consolidated reporting service, giving franchisors and franchisees the data they need for effective portfolio management.

When it comes to price, Beansquad’s model is structured around a unique staffing strategy that maximizes efficiency and value for clients. The service center supports onboarding and client communications while the team manages core accounting tasks, allowing Beansquad to keep costs low without sacrificing quality. 

“Our infrastructure allows us to compete at a sub-$400 price point while still delivering strong margins and high-level support,” said Greenblatt.

Why Now Is the Right Time to Choose Beansquad

As Beansquad continues to innovate, expand and refine its services, the company’s focus remains on helping franchise businesses navigate their financial landscape with ease. 

“With the increasing complexity of financial reporting and compliance, franchises need a reliable partner more than ever,” said Greenblatt. 

For franchisors and franchisees looking to enhance their financial operations with an experienced and committed partner, Beansquad stands ready to deliver. 

“We understand the unique challenges faced by franchisees,” Greenblatt said. “At Beansquad, we’ve developed a solution that addresses these challenges head-on, providing franchisees with the support they need to thrive.”

For more information, visit: https://www.beansquad.com/.