How did you structure your businesses?
Please share.
I’m looking to build a structure/system in place for HR/Operations/etc in my small retail store with 2-4 employees. Our operations is quite stable now in that it is pretty stagnant - the same thing over and over so I would like to document it/structure it so that I can focus on managing it + finding us opportunities for growth (in the same business).
Are you looking for both documenting processes as well as figure out corporate structure?
I work with multi-entity retail, restaurant, gym and hotel owners and sonme create an operational handbook with daily, weekly, and monthly operational responsibilities for staff, manager, and owner. For example, manager is required to upload invoices for owner to pay by 2nd and 4th Thursdays of the month.
As for corporate structure, I’ve seen most create a new entity and keep books separate. Some try to save on cost by breaking out locations and associated costs on one ledger.
Lastly, I see a lot of owners start thinking about investing into higher end systems and services or highering dedicated staff by their 3-4 location.
Again, not sure what you’re looking for specifically but hopefully this is somewhat helpful. I can also give you an example of bookkeeping operational handbook for roles and responsibilities.
Thank you for sharing.
I have three business units (service company, coffee shop/retail boutique, technical consulting/training)…each have their own teams, own LLC, but I manage all of them and pretty much work at each place as needed…the CPA does all the magic with the year end books. I have a bookkeeper that tracks ALL the expenses/income for each LLC…for the past 20+ years I write an annual business plan with a focus on what went right, what went wrong, how to improve…regardless of the business unit, how i manage the companies are the same.