BooXkeeping Franchise
Audited FinancialsRisk Score
Pending analysis
Investment Range
$33,842 - $69,342
Franchise Fee
$19,496
Total US Locations
5
Business Summary
BooXkeeping Franchise, Inc. offers a suite of bookkeeping services to small businesses under the BooXkeeping licensed marks. Franchisees operate the business remotely, often from their primary residence or an outside office, utilizing secure cloud-based software to deliver services. The services include core functions like daily, weekly, monthly, quarterly, and annual data entry, bank and credit card reconciliations, general ledger management, and financial statement preparation. Optional services may include vendor bill entry and payment, invoicing, accounting software setup and training, customized reports, payroll reporting, sales tax reporting, and IRS Form 1099 preparation and filing. BooXkeeping franchisees also have the option to outsource bookkeeping work to a designated overseas BPO service provider.
Corporate History
BooXkeeping Franchise, Inc. was incorporated in Nevada on January 23, 2020, specifically to sell and administer BooXkeeping franchises, and began offering franchises in 2020. The underlying BooXkeeping business concept itself was initially launched around June 2011 by Max Emma (the current CEO) through Purple Sun Corp., a predecessor company. This bookkeeping business was later merged into BooXkeeping Corporation, an affiliate, which was incorporated in Nevada on January 7, 2013, and continues to offer bookkeeping services.
Financial Overview
Investment Range
$33,842 - $69,342
Franchise Fee (Low)
$19,496
Franchise Fee (High)
$44,995
Royalty %
10%
Marketing %
2%
Equipment Costs (High)
$2,000
Working Capital
$7,500
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Going concern qualification
Financial Health Notes
BooXkeeping Franchise, Inc. has sustained substantial losses, reporting deficits of $219,874 in 2023, $182,589 in 2022, and $122,817 in 2021, resulting in a significant accumulated deficit of $672,594 as of December 31, 2023. Due to its current cash consumption rate, the company anticipates needing additional capital before the end of 2024. Management believes BooXkeeping Franchise, Inc. can continue its operations by increasing initial franchise fees and receiving ongoing funding from its stockholders, along with future income streams from franchisee sales and services.
Financing Details
BooXkeeping Franchise, Inc. does not offer any direct or indirect financing to its franchisees. This includes financing for the purchase of franchise rights or for setting up the franchised business. Additionally, BooXkeeping Franchise, Inc. does not guarantee any notes, leases, or other financial arrangements that franchisees may obtain from third parties.
Performance Metrics
Total US Locations
5
Franchised Units
4
Corporate Units
1
Franchising Since
2020
Legal & Compliance Analysis
Recent Litigation
No
Bankruptcy
No
Litigation Summary
BooXkeeping Franchise, Inc. has no litigation to report, as no litigation is required to be disclosed in Item 3 of the FDD.
Bankruptcy History
BooXkeeping Franchise, Inc. has no bankruptcy history to report, as no bankruptcy information is required to be disclosed in Item 4 of the FDD.
Agreement Terms
Initial Term
10 years
Renewal Term
5 years
Renewal Conditions
To renew, BooXkeeping Franchise, Inc. franchisees must not be in default under their existing Franchise Agreement and must not have received more than three default notices in any 24-month period, even if cured. Franchisees need to provide a timely renewal notice (9 to 12 calendar months before the term ends), pay a non-refundable renewal fee (25% of the then-current Initial Franchise Fee), sign BooXkeeping Franchise, Inc.'s then-current Franchise Agreement (which may have materially different terms), and execute a general release of claims. Franchisees must also complete any current BooXkeeping University training required for renewing franchisees. The territory boundaries generally remain unchanged, unless population changes warrant adjustments that would increase the territory size without encroaching on others.
Training & Support Program
Franchisor Assistance
Before opening, BooXkeeping Franchise, Inc. provides franchisees with user access to its Network Portal and Brand Standards Manual. It enrolls the designated Franchise Operator in BooXkeeping University, a 10-day initial training program delivered virtually with live instruction, offered tuition-free for up to three people. Franchisees receive a dedicated email address, phone number, and BooXAccess user credentials, which include VoIP service, Microsoft Office 365 Pro, AccountingSuite, BooXDesk, and IT technical support. The franchisor also provides minimum specifications for computer hardware and office equipment. After opening, BooXkeeping Franchise, Inc. offers the optional opportunity to outsource bookkeeping work to a designated overseas BPO service provider (fees apply, and the franchisee is responsible for work review). It cultivates and administers an Enterprise Account Program for larger client opportunities and provides marketing services to enhance brand awareness. Franchisees receive updated sales pitches, scripts, and presentation materials, along with 100 business cards and a template client contract. Franchisees can earn referral fees for BookkeepingZOOM services. The franchisor may hold optional annual conferences (mandatory for the Franchise Operator, with a registration fee) or regional meetings. Continuous operating assistance is provided for inquiries, with in-person assistance available for an additional daily fee plus travel expenses. Optional continuing training programs are also offered, typically without a separate fee.
Initial Training Hours
80
Training Location
Las Vegas, Nevada, or at another location in the United States that we designate, and virtually from your primary residence or anywhere else with secure internet access.
Ongoing Support
BooXkeeping Franchise, Inc. provides ongoing support services to its franchisees, including maintaining arrangements with BPO service providers for optional outsourcing of bookkeeping work (with fees), and cultivating and administering the Enterprise Account Program to generate larger client opportunities. The franchisor offers marketing services to promote the BooXkeeping brand and provides franchisees with updated sales pitches, scripts, and presentation materials. Franchisees also receive 100 business cards and a template client contract. There is an opportunity to earn referral fees for BookkeepingZOOM services. BooXkeeping Franchise, Inc. may hold annual conferences or regional meetings, with mandatory attendance for the Franchise Operator (fee applies). Continuous operating assistance is available for franchisee inquiries, with in-person assistance offered for an additional daily fee plus travel expenses. Optional continuing training programs are also offered, typically without a separate fee. Additionally, BooXkeeping Franchise, Inc. maintains a customized subpage for each franchised business on its website and provides email addresses with the website domain.
Franchise Requirements
Ideal Candidate Profile
BooXkeeping Franchise, Inc. seeks candidates who can demonstrate experience and working knowledge of potential small business clients in their desired territory, based on past living or working experiences there. The franchisor selects franchisees where at least one Primary Owner expresses an intention to actively participate in the business as the Franchise Operator, with the goal of maximizing revenue and profit. BooXkeeping Franchise, Inc. does not award franchises to applicants seeking a passive investment. Candidates must also meet general financial and experience requirements.
Industry Experience Required
No
Management Experience Required
No
Sales Experience Required
No
Technical Skills Required
No
Operational Details
Location Type
Home-Based
Owner Participation
Hands-On
Territory Type
Non-Exclusive
Territory Size Requirements
BooXkeeping Franchise, Inc. defines territories as geographic areas with no fewer than 500,000 residents, based on the most recent U.S. census data. The boundaries are typically delineated by contiguous U.S. Postal Service ZIP Codes or counties. The franchisor aims for a maximum of one franchise per 500,000 population within a territory, although this number may increase if the population grows after the initial assignment.
Staffing Notes
BooXkeeping Franchise, Inc. franchisees are responsible for employing or retaining a sufficient number of competent employees or independent contractors. These staff members must receive appropriate training to perform their duties according to the BooXkeeping System's standards. Franchisees are solely responsible for hiring, firing, setting employment policies, and supervising their staff to ensure professional conduct and compliance with applicable laws. Franchisees have the option to outsource data entry and bookkeeping services to a franchisor-designated BPO service provider instead of hiring direct employees or contractors.