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Four Tips to Manage Your Money as a Franchisee

  • February 11, 2016

As you are about to embark on the exciting opportunity to invest in your own ice cream business, you’re going to want to step up your game when it comes to managing your money. This doesn’t mean you need to go back to college and earn a business degree. Instead, it comes down to the idea of being proactive. Investing in a Marble Slab Creamery is a great way to expand your business portfolio but it’s not a business that’s going to run itself. Here are some tips to help you manage your money as a franchisee:

ice cream business

Tip #1: Track Your Spending for Your Ice Cream Business

Back in the day, any type of ice cream business depended on a book ledger to keep track of spending. Every item had to be written down and added up manually. Today, there are a wide array of business accounting software programs that can help you keep track of your spending without any stress. You’ll still have to enter in the numbers, but these programs will do all the math and help you organize the spending categories.

Tip #2: Set Up a Bill Calendar

With every ice cream business, there will be money coming in and money going out. You have to pay attention to both sides of the cash flow. With regard to the money going out, it might be helpful to set up a bill calendar. There are all kinds of fixed costs you’ll be paying every week, so having reminders is a great way to make sure those bills can be paid on time. That will keep your creditors happy!

Tip #3: Put Money into an Emergency Fund

An emergency fund is important to have as a homeowner. These are the funds you have set aside to deal with any type of unforeseen circumstances such as a plumbing problem or a broken oven. That same philosophy can be applied to your ice cream business. Knowing that you have this emergency fund will make managing those incidents go a lot smoother. In other words, it will be taken care of.

Tip #4: Whenever Possible, Use Cash

Running a business means you’ll be running a credit debt. It comes with the territory. However, you are under no obligation to “charge everything.” If you have the opportunity to pay with cash, then that’s what you should do because this will help reduce your overall debt. Plus, you can avoid all those hefty finance charges. That’s money you get to keep!

Is Marble Slab a Franchise to Invest In?

Is Marble Slab a franchise to invest in that is worthy of your investment dollars? First, factor in the kind of support you’ll be getting from us at Global Franchise Group. We are the company who stands behind every Marble Slab Creamery franchise and are also the same team who helps get hundreds of Pretzelmaker, Hot Dog on a Stick, and Great American Cookies franchises up and running.

We will provide you with all the training you need to get your business up and running which includes all the accounting requirements. Plus, you’ll have the opportunity to work in an actual Marble Slab Creamery franchise so you can see how things run from start to finish.

Bottom line: we know what we’re doing when it comes to fast food franchises! To find out more about this exciting opportunity, visit our website to get more information and find out how you can be scooping ice cream in no time!

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