The franchise industry in the US contributes to over $780 billion in economic output annually, with over 780,000 establishments operating across the country. Franchisees pay an initial fee and ongoing royalties to access the branded name, marketing, products, and systems, allowing faster expansion. The US has supported franchising growth through favorable regulatory and financing environments, allowing franchise systems to flourish. Key accounting challenges include revenue recognition, valuing intellectual property assets, consolidation, disclosure requirements, and performance reporting. QMK Consulting can help franchisors address these challenges, providing revenue system setup, disclosure process support, consolidation analysis, intellectual property valuation, and financial reporting.
The healthcare industry in the United States is a complex sector with various players including healthcare providers, payers, and pharmaceutical and medical device industries. The industry faces rising costs and pressure to improve quality and access, with issues like addressing chronic illnesses, implementing health IT systems, managing Medicare's long-term sustainability, reducing regulatory burdens, and dealing with continued uninsurance remaining key challenges. Key accounting challenges include revenue recognition, estimating uncollectible accounts, managing reimbursement rates, compliance with regulations, and cost allocation issues. Healthcare accountants and financial analysts need specialized domain knowledge and advanced healthcare-focused accounting systems to manage these challenges. QMK Consulting can help healthcare organizations address these challenges by providing expertise in revenue recognition, uncollectibles and bad debt, reimbursement rate modeling, compliance and regulation, and cost allocation. Their activity-based costing models target overhead allocation issues, and they assist with EHR integrations, MACRA reporting requirements, and provide customized analytics dashboards for finance performance tracking against dynamic healthcare KPIs. Contact their healthcare practice experts to learn more about their services.
The real estate industry, which accounts for over 15% of the US GDP, faces key accounting challenges such as revenue recognition, depreciation, capitalization, valuations, tax treatment, and sales accounting. QMK Consulting can help real estate businesses address these issues by developing customized revenue recognition policies, forecasting and budgeting, tax planning strategies, technology integration, accounting staffing and advisory, and financial reporting. Their services aim to become a value-added partner in the complex accounting world, ensuring accurate performance and minimizing tax liabilities.
The restaurant industry, with over 1 million restaurants in the US, generates $860 billion in sales annually. Key trends include healthy menus, customizable options, technology integration, and off-premise dining. However, the industry faces challenges such as thin profit margins, high failure rates, and staffing difficulties. QMK Consulting can help restaurants overcome these challenges by implementing cost control, cash flow planning, compliance, technology integration, and data-driven insights. Their services deliver returns through improved profits, sustainable growth, and regulatory compliance, making them a financial partner for restaurants.