d&t

Visiting Angels: Taking Care of the Numbers with d&t

Visiting Angels has been providing care across the world for 20 years. The business has been built on recruiting, training and supporting the very best caregivers and enabling them to deliver premium quality homecare.  Visiting Angels now has around 630 franchisees world-wide and first started providing care services in the UK three years ago.

Dan Archer (Managing Director) Visiting Angels explains:   “At Visiting Angels we put carers at the centre of our business to make sure they can deliver a truly person-centred service to families.  Our aim is to be the UK care sector employer of choice by 2022.  In order to achieve this goal, we work with and support franchisees who can deliver our care-centric vision on a local level, to provide an overall better level of care. 

“Our franchisees are “people-people”.  They are resilient and good team managers who are passionate about rallying against poor care treatment.  They are commercially aware yes, but they are driven to give the very best care.

“There are around 10,000 people in the UK needing care services.  However, there is a shortage of quality care providers. We currently have five franchisees in the UK and are looking at recruiting a further ten in 2020 and more after that.   To support our franchisees and their teams of caregivers, it is essential that we provide the best training and support and accountancy services comes into that.

“I was first introduced to Carl Reader, chairman of d&t when I was working on other projects way back in 2010!  As chartered accountants and business advisors to the franchise industry, d&t’s staff have a wealth of expertise and experience in managing the accounts for franchise organisations and their franchisees.   Therefore, when I first set up the pilot business for Visiting Angels in Sheffield three years ago, hiring d&t to look after the accounts, bookkeeping and payroll was a logical step.

“Working with d&t is like a partnership.  They come along to our franchisee induction training and answer questions about how best to set up accounting systems.  This is really helpful for new franchisees who have often never been self-employed before.  d&t offer guidance and support right at the outset.  There is no obligation for any of our franchisees to work with d&t on an ongoing basis, but so far, they have all chosen to use d&t for their standard accounting work, including: year end, corporation tax and company accounts.

“We also subscribe to Xero through d&t, which is a cloud accounting software package.  In Sheffield for example, we typically work with 70 private clients delivering between two-three thousand hours of care services per month.  The software we use, logs the calls and this digital information integrates with our scheduling system and into Xero so the correct charges are made.   Previously, I had tried an alternative application which didn’t work, so d&t advised on the switch and this provided a practical, simple solution to keep track of work and invoicing.

“This is a clear example of how d&t’s team is focused on coming up with the best possible outcome for all involved.  As our franchisees’ business grow and mature, it is important our accountancy practice understands how we need to mitigate risk against profit and continue to provide the very best care services available.  d&t also recognises the important relationship between franchisee and franchisor and how this needs to be nurtured, maintained and strengthened by working together to create a better business for the future. 

“In short, d&t’s insight into the franchise industry means they can provide a better, more economical service and a greater level of support for Visiting Angels’ franchisees than a traditional accountant.  They add value by taking care of the numbers, leaving us to focus on the people looking after our client families and providing the best carer-centric service available.”

Molly Maid Franchise Owners Add Value to Their Numbers With d&t

Founded in Canada in the late 1970s, MOLLY MAID grew rapidly and expanded into the UK in 1984.  MOLLY MAID has since become the most well-known and searched company in the home cleaning industry.  In 2018 Molly Maid performed 284,207 cleans, so 'nearly 300,000 cleans' (plus or minus a few)! 

Three years ago, MOLLY MAID teamed up with chartered accountants and business advisory experts d&t, to help its franchise owners become better at managing their financial accounts.  d&t now works with around 20 MOLLY MAID franchise owners in the UK, to provide an effective, value for money system.  The accurate, up-to-date financial analysis of accounts now enables franchise owners to make more informed and timely decisions about their businesses.

Jonathan Holden, Chief Operating Officer, MOLLY MAID explains:  “Previously, franchise owners relied on their own locally sourced accountants.  Those that used these services (and those that still do!) found that accounts were often only reconciled by producing manual statements every quarter or every six months.  This meant it was not easy for franchise owners to keep their ‘fingers on the pulse’ of their business and make changes, investments or decisions based on current performance.

“Now, when we have new franchise owners joining the business, we encourage them to work with d&t who provide a best-practice, modern accounting platform and comprehensive guidance package.  This ensures franchise owners can keep right up to date with their financial information providing they update and reconcile their accounts regularly (which they should do!).  It means they can immediately identify and address any overspend for example, as all the figures for their profit and loss accounts are right at their disposal. 

“Franchise owners are introduced to d&t and QuickBooks online accounting as part of their initial franchise training.  Then, if they decide to work with d&t, 121 training is provided on the software, plus basic practices such as: understanding accounting formulas, reconciling invoices and managing cashflow.  Franchise owners do need to be disciplined and keep the QuickBooks system updated weekly (and there are bolt-on extra options for closer support if required) .  It’s then easy to keep an eye on profitability and gain a better handle on the business.  A library of FAQ documents and webinars are also available which provide useful tools for the effective management of franchise owners’ accounts too.

“Over the past three years, we have developed an excellent working relationship with the d&t team.  We have run workshops for franchise owners to help them understand and analyse their P&L, plus a session for our support office staff on assisting franchise owners in interpreting their figures.   d&t has also sponsored and presented at our MOLLY MAID franchise conventions.  Our close links means it feels like a real team effort.

“A recent workshop was run as a basic introduction to managing accounts.  It covered how our support office team can use accounting formula to work out things like breakeven point, gross profit, ebitda and gearing.   This all helps to flag to their team which franchisees are performing well and indicate which need more guidance to bring them up to the high standards of the others in the network. 

“Since completing the workshop, staff have praised the practical application of the formula that was demonstrated on the day.  As a whole, our team was impressed with the workshop and the help it provided and we plan to do a similar course for our franchisees in the future too. 

“As well as providing basic accounting services such as end-of-year accounts, support around VAT thresholds and payroll, d&t also offers individual help and support.  Depending on the franchise owner, naturally, some do need more assistance than others.   For those who have relied on a traditional accountant in the past,  modernising and moving to a system like QuickBooks can be a bit of a culture change so this flexible approach is important.  This back-up is particularly helpful for franchise owners with less understanding or those who need more support.”

“d&t’s accountancy and business advisory service provides a good value for money, effective system for the close managing of finances which is tailored to our needs.  We hope more of our franchise owners to move over to d&t, as from a profitability perspective they can add value to their businesses by making better decisions through closer and more timely analysis of their accounts.”

Mandy Perry, Franchisee at Stagecoach

d&t have been part of my business for over 6 years. Yes, they are my accountants but I feel they are part of my business because they are so in tune with my business needs. Their staff are always on hand if I ever have a query about anything and respond quickly and effectively. Who could ask for anything more!

Richard Holden, Head of Franchising at Lloyds Banking Group

It’s great to see that d&t are broadening their services to provide even greater support to the franchise community and Lloyds Banking Group is delighted to work with the highly professional d&t team to support their clients with their banking and finance objectives.

Illana Crabtree, Franchisee at Molly Maid

d&t have given us so much support, especially with getting us set up and running on Quickbooks software. They provided us with lots of useful training sessions, webinars and easy-to-follow quick help sheets and videos. It’s great to know we can always pick up the phone and speak to an actual person for help!

Sean Connley, Kaisho Academy of Martial Arts

d&t are always on the ball, knowledgeable and approachable. It’s great to know that someone out there truly understands my business and I can just pick up the phone and speak to them. The team are friendly and full of advice with amazing customer service, and I really can’t fault them.

Freddie Underwood, Franchisee at Stagecoach

d&t have been the accountants for my business for almost ten years. During that time, they have helped to grow my business, understood my business and worked with me to save money. I feel d&t offer me a service that I would not find anywhere else.