Payroll is a low reward proposition. When paid correctly and on time, your employees don’t go out
of their way to pat you on the back and thank you for their hard earned paycheck. However, if your team doesn’t get paid, the amount is incorrect or the check is late, you will certainly hear about it!
Payroll mistakes can bear serious consequences that could affect employee morale and your franchise’s reputation. It could also negatively impact on your reputation within your community as well as with your parent franchise. Simply put, you cannot afford to get it wrong. At the same time, you shouldn’t have to spend an excessive amount of
time worrying about it. It’s a necessary function, obviously, but not core to your business and your expertise.
Relieving Payroll Headaches
As a franchise owner, wouldn’t you rather spend your valuable time on strategy and overseeing day-to-day operations, rather than necessary but tedious administrative functions like payroll?
Overseeing new payroll clerks, processing the payroll, cutting paychecks, calculating with holdings and preparing W-2s and1099s at year-end all demand valuable time — especially if you are not familiar with intricate payroll regulations. The time you can save by hiring a payroll service will be much better spent meeting the needs of your clients, as well as finding new ones.
Payroll for franchisees can also be quite complicated, especially if you have franchises in more than one location.
From employee turnover, part-time and full-time employees, bonuses and figuring out how much to pay yourself, you have a lot of moving parts. And the fact is,payroll has a big impact on the bottom line of your business. Whether you’re doing it yourself or overseeing one of your staff, it is stressful and time-consuming and just another thing on your already full plate.So whether you have one franchise with a few employees, several franchises in neighboring towns or 150 across 15 states,instead of taking a few aspirin for your payroll headache and putting it off until tomorrow, you can handle payroll in minutes and automatically pay and file your federal, state and local payroll taxes.
Here are some of the benefits for franchisees to consider :
Save Time and Money
Research indicates that a small business(or franchise) with 10 employees can spend nearly $3,000 each year on labor costs for payroll. Working with a provider who already has the expert knowledge saves a lot of time – and money.
Focus on Your Business
It takes a lot of time, effort and resources to process payroll by hand. Automating payroll allows you to step away from having to micromanage the process so you can focus on strategy and the daily operations of your business.
Avoid Government Tax Fines
According to the IRS, 40 percent of small businesses pay an annual average penalty of nearly $850. Most of these fines are due to late payments and inaccurate filings. A good payroll service can assist a small business by remitting timely and accurate payments and tax filings.
Direct Deposit Option
Most employees prefer direct deposit, but it can be difficult to offer if you aren’t using a payroll service. It’s a win-win
for all involved. Employees don’t have to take another trip to the bank, and the employer eliminates time-consuming and error-prone paper handling and the need to reconcile individual payroll checks on a monthly basis.
Utilize Today’s Advanced
Many providers offer the ability to file your payroll online. You can make it easy on yourself by using an online payroll provider. You can file anywhere and at any time, you just enter the employee hours on your Smartphone or mobile device, approve and send. As with all vendor and partner decisions, before you hire a provider, be sure to do
your homework and choose a company with a good reputation and proven track record. Most importantly for you,
make sure they specialize in payroll for franchises and are able to handle multiple franchises in several locations. You don’t want to sign up for a service and then find out later that they can’t support you.
The decision between outsourcing payroll and doing payroll in-house is one that franchises face every day. Franchise
owners should consider the time and money savings in outsourcing to a payroll service.
About the author
Steve Kania is the Vice President of Product Management for Surepayroll, a leading provider of online payroll
services for small businesses nationwide. Steve and his team focus on designing and launching new product lines
and payroll features that make HR management simple and more convenient for small business owners.
He and his team are the driving force behind SurePayroll’s continual
innovation in online payroll processing. For more information visit
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