Fast casual Asian restaurant Teriyaki Madness implements ProfitKeeper by PrimePay across all franchise locations to make life easier for business coaches and 150 franchisees. Coaches and franchisees can now easily submit and view profit and loss (P&L) data to identify efficiency issues and find opportunities to increase profitability.

Initial Challenges

• The company had ProfitKeeper by PrimePay for over 3 years but only used it in 9 locations.
• P&L statements were collected manually and stored in binders which made them hard to review.
• Franchisees didn’t have the data to benchmark against other locations and see opportunities for reducing expenditures and increasing profit.

Solution

Teriyaki Madness implemented PrimePay’s financial analytics technology, ProfitKeeper by PrimePay, across the majority of franchisees, automating monthly P&L submissions, delinquent reporting, and benchmarking to give business coaches and franchisees direction on how each restaurant can improve.

Benefits

• Over 90% of franchisees now submit P&Ls.
• Coaches receive more insightful reports sooner, giving them the ability to help franchisees identify problems and improve the bottom line.
• Franchisees see how they compare to other restaurants, helping them make better decisions.
• The Assistant Controller gets multiple hours of her week back due to automated financial reports.
• Overall profitability in Texas is estimated to have increased by 4-5%.

“Having ProfitKeeper is a game changer for us. The first thing we do with the onboarding of new franchisees is train them on how to upload P&Ls to ProfitKeeper.” – Misti Hunt, Assistant Controller

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