connect-item
connect-item

BooXkeeping

Table of Content
1. Franchise Snapshot
2. Franchise Overview
3. Performance and Metrics
4. Our Take
5. Additional Resources

1. Franchise Snapshot

Franchise Status
Active
Basic Information
Industry
Business & Professional Services
Category
Accounting & Bookeeping
Investment Range
$67,546 - $74,546
Total US Locations
10
Franchise Units
9
Founding Year
2013
Started Offering Franchises
2020
Management Capacity
Owner Operator
Job Count
N/A
Prior E2 Investors?
No
Prior Visa Franchise Clients?
No
Royalty Fee
10%
Marketing Fee
2%
Franchise Fee
$50,000
Headquarters (City, State)
Las Vegas, NV
Square Footage
N/A
Retail Location?
Yes
Agreement Term Length
10 years
Video

In these videos you will learn about the company firsthand. And they will also tell you in a short form about the financing of the enterprise.

*Information presented in these videos may change over time and may not reflect the most current franchise offering. Prospective franchisees should review the latest Franchise Disclosure Document (FDD) and consult directly with the franchisor for updated information.

2. Franchise Overview

Reports - Elements Webflow Library - BRIX Templates
Overview

BooXkeeping is a bookkeeping franchise providing affordable outsourced bookkeeping services to small and medium-sized businesses. They have been in the market for over a decade and provide clients with comprehensive financial services including daily, weekly, and monthly data entry, bank and credit card reconciliations, general ledger management, invoicing, payroll reporting, and sales tax reporting. BooXkeeping has developed a strong competitive advantage as the preferred bookkeeping vendor for over 100 franchise brands, including FastSigns, Sport Clips, and Gameday Men's Health. In addition, they provide a business model with low startup costs, proprietary cloud-based software (BooXDesk), a unique 2-3 accountant per client model that ensures continuity and accuracy, and comprehensive training and ongoing support - no prior bookkeeping experience required.

Users - Elements Webflow Library - BRIX Templates
Management team / founders

Mr. Max Emma, Co-Founder and CEO, was born in the former Soviet Union and immigrated to the United States to pursue the American dream. After gaining experience in accounting and finance at Qualcomm, he left to pursue entrepreneurship and ran a landscaping business. During the 2009 recession, while trying to outsource bookkeeping for his service company, he discovered massive pricing discrepancies and poor customer service across the industry. Recognizing an opportunity to disrupt a fragmented market, Max and co-founder Elena Emma started BooXkeeping part-time in their garage while running their landscaping company to pay the bills. Elena, who had been in the accounting and finance space since age 18, played a crucial role in building the business model and internal culture. BooXkeeping gradually became their full-time focus, and they sold the landscaping business. After 7-8 years of growing the brand organically, the decision was made to franchise in 2020. Today, BooXkeeping is offered in 35+ states and growing, with Max also serving as founder of Main Entrance Franchise Consulting.

Password - Elements Webflow Library - BRIX Templates
Focus of owner for daily business operations

As a BooXkeeping franchise operator, the main facets of the business entail: 1. Acquiring and retaining small and medium-sized business clients through networking, referrals, and local outreach; 2. Managing client relationships and ensuring quality and timely delivery of bookkeeping services; 3. Leveraging BooXkeeping's staffing solutions and trained professionals to handle bookkeeping work, allowing the owner to focus on business development; 4. Review of financials, client satisfaction metrics, and growth opportunities within the designated territory.

3. Performance & Metrics

Franchisor Fees | Item 6
Franchise Value
Industry Median
All Franchises Median
Royalty Fee
10%
8%
6%
Marketing Fee
2%
Franchise Fee
$50,000
$39,925
$40,000
Total Investment Cost | Item 7
Type of Expenditure
Low Amount
High Amount
When due
Initial Franchise Fee
$50,000
$50,000
Security Deposit
$5,000
$5,000
Upon execution of the Franchise Agreement
Travel Expenses During the Initial Training Program (BooXkeeping University)
$0.00
$0.00
During BooXkeeping University
Computer Hardware; Software; Other Office Equipment
$1,000
$2,000
Before opening
Legal Fees; Business Entity Formation Costs
$2,000
$3,500
Before opening
Initial Office Supplies
$500
$500
As required
Technology Fees for BooXAccess
$1,046
$1,046
Before opening
Business Insurance
$2,000
$3,500
As required by insurers
Additional Funds - first 3 months after you begin operations
$6,000
$9,000
As required
TOTALS
$67,546
$74,546
Outlets and Franchisee Information | Item 20
Outlet type
Year
Outlets at the start of the year
Outlets at the end of the year
Net change
N/A
2022
1
1
0
Franchised
2023
1
4
+3
N/A
2024
4
9
+5
N/A
2022
1
1
0
Company-Owned
2023
1
1
0
N/A
2024
1
1
0
N/A
2022
2
2
0
Total Outlets
2023
2
5
+3
N/A
2024
5
10
+5
Net Unit Growth (Recent year)
Net Unit Growth (Recent 3 years)
Franchise Health Metrics
Growth Rate
1 year / 3 years
Failure Rate
1 year / 3 years
Franchise for Sale Rate
1 year / 3 years
BooXkeeping
125% / 800%
0% / 0%
0% / 0%
Industry median
0% / 2%
4% / 13%
0% / 5%
Franchise Health Metrics
Franchise Historical Loan Metrics
10 Year Cumulative Charge Offs by $ of Loans
10 Year Cumulative Defaults
3 Year Predicted Default Rate
*Please note the information provided here is sourced from Lumos. We do not guarantee its accuracy or completeness. For verification, please refer to Lumos directly.
Item 19 – Financial Performance Representations
Historical financial performance representations
Franchise Financials
Franchisor company financial information, if disclosed by the franchisor.
Litigation & Bankruptcies
% of Franchisees Undergoing Litigation
0
% of Franchisees with Completed Litigation
0
Number of Bankruptcies Disclosed
0
*The litigation information displayed has been reviewed by our Product Development team. Franchises featured on this platform have been thoroughly assessed. However, Visa Franchise strongly recommends consulting with your own legal counsel for further guidance.

4. Our Take

BooXkeeping provides a great opportunity for an investor looking for a business in the booming $4.2 billion bookkeeping industry. The proven success of the cloud-based model, the unique position as the #1 bookkeeping franchise in the U.S., and the founders' firsthand experience navigating the challenges of small business ownership make the investment relatively safe. Additionally, the brand's low total investment, strong recurring revenue from ongoing client relationships, and the growing demand for outsourced bookkeeping services post-COVID provide potential investors with a highly scalable opportunity with significant long-term income potential.