Essential Services for Franchisees

The core of ProfitKeeper services is a unique patent-pending accounting solution which allows small business owners anywhere, anytime access to their accounting data and reports with the ability to use new analytical tools for comparing their operational and financial performance.

In addition to its cutting-edge accounting technology, ProfitKeeper seamlessly integrates other essential services (bookkeeping, payroll, and income tax preparation) into customized 'bundles" to meet the specific needs of each business.

Unique Value for Franchisors

Unlike traditional "one size fits all" accounting software ProfitKeeper has developed a patent pending process to consolidate the financial reporting of independently owned small businesses into one system. This new capability facilitates timely financial reporting in a consistent format creating a new opportunity for franchisors to use comparative analytics and to identify areas for improvement with their franchisees.

• Franchises are able to have the accounting software designed specifically for their unique business processes, branded image, and reporting needs.
• Support teams of accountants and bookkeepers are trained and experienced in the specific type of business of the sponsoring franchise.

Specialized Service Teams

ProfitKeeper account managers, team leaders, and service associates all have considerable accounting and bookkeeping education, training, and experience. Our service teams are organized to work with specific franhises...enabling them to gain greater understanding of your type of business and to help optimize your use of ProfitKeeper services to save you time and money while managing your business more profitably.

History

ProfitKeeper had its beginnings when founder Greg Nielsen, CPA, purchased a Cousins Subs franchise in 1999. He knew the franchisor required monthly financial reports but he soon realized they had no standardized method for franchisees to create and deliver those reports. Later he discovered the problem was not unique to his franchise system, but is epidemic in the franchise community. In essence, without a user-friendly, system-wide accounting solution, franchisors and franchisees were left to their own devices to report, track, compare, and analyze financial data crucial to managing profitability. Thus ProfitKeeper was born.

Today, ProfitKeeper provides real-time, online delivery of accounting and other core business services to franchisees. Current services include accounting, bookkeeping, payroll, point-of-sale (POS) integration, and tax preparation.

Simple, customized user screens allow franchisees to enter data online anytime, anywhere. ProfitKeeper merges the franchisee's input with the integrated services (payroll, POS interface, etc.) into a comprehensive database which tracks, compares, and analyzes the information for the benefit of the franchisee and franchisor.

Franchisors receive automatic, timely reports from franchisees, enabling them to establish benchmarking statistics and implement best practices system-wide. Franchisees can track their own past and present performance, see how they compare to others in the same locale, region, or system-wide and then adjust business practices as necessary. 

Our Team

A management team comprised of successful, seasoned professionals brings considerable experience and expertise to the table. Team members skilled in managing high-growth start-up companies, creating innovative financial services technology, and building successful marketing programs and operations are in place and executing ProfitKeeper's development plans.

Greg Nielsen, CEO & Founder

Greg has over twenty years of experience working with small and franchised businesses and creating systems and processes to improve their effi ciency and profi tability. His professional career includes public accounting experience with the international accounting fi rm of Deloitte & Touche where he worked with small and franchised businesses; senior management experience as senior vice president and owner of Productivity Plus and as senior vice president of Franklin Covey Company, both companies created innovative tools and services to help clients better manage their time and activities; president of Signaltec where he was involved with the creation of a patented solution to electronically collect critical equipment measurements; and as an owner of a Cousins Subs franchise, where he witnessed fi rsthand the day-to-day challenges faced by franchises. He holds Bachelor of Science and Master of Accounting degrees from Brigham Young University and is a Certifi ed Public Accountant, with memberships in the AICPA and ASCPA.

Dion Garner, COO

Dion has more than 15 years of leadership experience in growing sales and profi ts in a high technology organization. Prior to joining Profi tKeeper, he worked at Honeywell International as the North America vice president for account management and sales for commercial products and was responsible for $760M in revenue for the top 50 accounts. Before this role, Dion combined both strategic and tactical skills to achieve outstanding results in a variety of leadership positions:vice president sales & marketing, director of $180M product line, global sales manager, international customer support, and director of business development. Dion is also a licensed marketing consultant for Monopolize Your MarketPlace™, a proven system for growing small to medium sized businesses. Using process driven and methodical approaches, he also achieved Six Sigma Blackbelt for Leadership certifi cation in 2005. He holds a BS in mechanical engineering from Brigham Young University, graduating Magna Cum Laude, and a MBA from Arizona State University.

David Keeney, CTO

Dave brings more than 23 years of software development, systems architecture and management experience in starting and growing new companies. He is the technical architect of ProfitKeeper systems and technologies. He co-founded TekNow (wireless email and paging equipment), serving as VP engineering. He also founded ACH Systems (bank financial transactions) and served as manager of systems & operations for the electronic funds processing division of Deluxe Corporation, a Fortune 100 company, providing millions of transactions to financial institutions across the country. He is well known for his expertise in financial systems, wireless, web, email, database, LAN/WAN, and distributed computing technologies.

Mark Hutzell, Senior Vice President

Mark Hutzell, Senior Vice President of Business Development, has a diverse range of management and marketing experience with over 20 years in the fi nancial services industry. As a senior vice president of one of the nation’s largest insurance marketing organizations (an IMO with over $2.5 billion in annual premium) for over 11 years he was instrumental in managing the fi rm through a period of tenfold growth in sales and personnel. Mark served as president of a national association (an affi liate of the IMO) providing health benefi ts to affi nity groups and over 100,000 members. He holds a BA in economics from Arizona State University, an MBA from Iowa State University and the Chartered Financial Consultant (ChFC) professional designation from the American College.

Marlane Porter, Senior Vice President

Marlane Porter, a Senior Vice President of Profi tKeeper, is an attorney who has extensive experience with small businesses as both attorney and entrepreneur. As a sole practitioner, her services focused in the areas of small business formation and transactions, retirement distribution planning, and estate planning. Marlane has experience as a consultant in the insurance industry, being instrumental in the development of innovative fi nancial programs and tax-advantaged fi nancial products. She graduated summa cum laude from Arizona State University where she was honored as “distinguished Baccalaureate Degree Student.” She received her Juris Doctor degree from Arizona State University College of Law and is a member of the Arizona State Bar.

Ron Tanner, Technology Consultant

Ron has more than 25 years of programming and project management experience in developing innovative computer systems. He started his career programming for a $300M construction company and in five years climbed to become the vice president systems & programming responsible for a $1.2M budget. Since that time he has served as a principal and founder in many successful startup companies, including TekNow, Inc. (paging software), ACH Systems (bank financial transactions), and Voxeo, Inc. (telephone application). He holds a Bachelor of Computer Science degree from Brigham Young University and an MBA from Arizona State University.

FAQ's

What is ProfitKeeper?

ProfitKeeper is a full service web-based accounting and payroll solution that has been customized for franchises.

What do I need to use your service?

You need a computer, printer, internet service (we strongly recommend high-speed, but dial-up does work), a web browser such as Internet Explorer, Adobe Reader (which is a free download), and pre-printed checks (we support checks where the check is at the top of the sheet with two vouchers on the bottom -- please contact us for specifications).

Do I still need an accountant?

No. Our system will handle all of your day-to-day accounting and payroll transactions and our toll-free support service is available to assist you with questions or specific transactions you may encounter.

Do I need a tax preparer?

We provide preparation services for income tax returns within our accounting service bundles. However, we do not provide tax advice or planning services.

Do I still need accounting software such as Quickbooks?

No, our service provides all of the features and functions you need. We provide you with a turn-key solution that includes pre-set accounts, custom screens and simple functions which are easy to use.

Why should I use ProfitKeeper over accounting software such as Quickbooks?

Our solution is designed to save you time and money, and it instills the controls you need to measure results in a consistent and timely manner. Most franchisees lack the accounting or business background needed for software products. Such products are difficult to set up, do not offer support, are "too easy to mess up", lack adequate controls and audit trails for edited transactions, and are inaccessible by other users, such as managers or other owners. In addition, most franchisees do not properly protect and store their data, thus putting at risk their financial database.  ProfitKeeper solves these problems with its simple, intuitive entry screens and secure data storage.   In addition, users of ProfitKeeper share their best practices through comparative cost analyses, vendor sourcing and other communication tools to help lower costs and improve profitability.

Why should I use ProfitKeeper over an accountant?

Most accountants require you to enter transactions with accounting software or to use manual processes to collect and remit the data to them for their review and processing. In either case, there are no controls, processes or features which will save you time and money and provide you with timely and consistent financial information. The cost of an accountant is significantly higher than the ProfitKeeper solution as an accountant's processes are quite labor intensive (the average savings realized by users of our service who have switched from local accountants is near 40%).  Accountants are also unable to provide you with the comparative analyses and tools you need to better manage your business, whereas ProfitKeeper provides you with these comparative tools in real-time. In addition, ProfitKeeper has extensive experience with franchisees as it was designed specifically for franchises, understands your business practices and is able to help you identify the best practices within your system.

Can I allow my manager or others to access my site?

Yes, you are allowed an unlimited number of users. You determine who has access to your site and the level of access they are allowed. Access can be limited to specific menu options, such as allowing the entry of sales and inventory for a manager, viewing reports for a tax preparer or other owner, or may even be limited to a specific location. If you want to provide access to others you must approve it by submitting a User Setup form.

Does my franchisor have access to my site or information?

No, access to your site is controlled by you. Franchisors are provided a separate web site for reports where authorized users can access Income Statements and comparative analyses data, such as comparing your food costs to the average food costs of all franchisees, but they do not have access to your site or your detailed data.

How much does the accounting service cost?

Our account managers can provide subscription fee information regarding specific services and service bundles. Our services can range from $18 to under $400 per month for average businesses, depending on the services they require.

When are your fees collected?

We invoice our fees as of the last day of your accounting period and they are collected on the 5th day of the following month.

How does the payroll service work?

ProfitKeeper offers both a self-administered web-based option and a full-service option which is administered by ProfitKeeper. Our account managers can provide you with complete details of all of your options.

What happens if the payroll tax payments are not made timely?

ProfitKeeper agrees to pay any penalties or interest resulting from our failure to remit the taxes on a timely basis, but is not responsible for assessments resulting from actions of the franchisee, such as insufficient funds in a bank account or failure to provide required tax information such as tax identification numbers.

How do I get started?

We highly recommend an initial preview of your unique business requirements with one of our account managers prior to submitting any signed service agreements for our services.

What is the setup process and how long does it take?

Once we receive your Member Setup form we schedule a setup meeting with you, which generally takes about 30 minutes. Upon completion of the meeting we activate your account and schedule a walk-thru training session, if needed. In the training session (which is for users not subscribed to one of our full-service options), we have you enter actual transactions and we demonstrate the features and functions of the subscribed service. After your initial period is completed and upon the receipt of required information, such as your bank statement and previous financial records, we complete your initial period closing. Upon completion of your second accounting period, we review your activity and the bank reconciliation process and then answer any questions you may have. Users are generally comfortable with the service by then and require little additional training, although additional training and assistance is available as needed.

Is ProfitKeeper a secure site?

Yes, it is a secured site.  ProfitKeeper utilizes secured sockets layer (SSL) to encrypt and protect all data as it travels across the internet.

Is my data backed up and protected?

Yes, our servers are maintained in secure facilities and daily backups are stored in secure off-site locations.

Is support included and how do I access it?

Yes, support is included at no additional cost. Users also receive training on how to use our service, and they have access to our online help guide and video training modules. Once you are subscribed we will provide you with our email address and toll free telephone and fax numbers for support services. Support services are available from 8:00 a.m. to 5:00 p.m. Arizona Standard Time on normal business days.

Is a service agreement required?

Yes, we email you the service agreement upon receipt of your setup form. The agreement authorizes us to collect our fees from your bank account and outlines the terms of the service, which is month to month.

Investor Relations

ProfitKeeper Corporation shareholders should contact Marlane Porter, Senior Vice President, directly at 866.301.8050.

Contact Us

Call us at 866-301-8050
or submit your information below and we will contact you.