BeanSquad and BoeFly: Transforming Franchise Support with Financial and Lending Expertise

BeanSquad, a leader in franchise bookkeeping, has joined forces with BoeFly, a premier franchise financing platform, to provide franchisors and franchisees with an unparalleled level of financial and operational support. This strategic partnership is designed to address key challenges in the franchise industry, including financing, financial reporting and compliance. By combining their respective strengths, BeanSquad and BoeFly are setting a new standard for what it means to support franchise growth and sustainability.

“What we kept hearing from lenders was that franchisees often struggled with clean financial reporting,” said Mike Rozman, founder and CEO of BoeFly. “This made it difficult for them to access capital to build their second or third location, even when their businesses were thriving. We knew this was a problem that needed solving.”

BoeFly’s core business revolves around two pillars: diligence for franchisors and financing support for franchisees. The company’s proprietary bVerify platform simplifies the process of vetting franchise candidates by assessing liquidity, net worth, credit and criminal background, providing franchisors with critical insights. Simultaneously, BoeFly helps franchisees secure financing by connecting them with lenders that meet their specific needs.

“When franchisees launch their businesses, they need good financial reporting to succeed,” said Rozman. “That’s where BeanSquad comes in. Their expertise in bookkeeping and compliance ensures that franchisees have the tools they need to grow sustainably.”

Partnership Background

Founded in 2019 by industry veterans Lance Diamond, Mike Greenblatt, Bruce Patz and Henry Uy, BeanSquad emerged from a mission to support franchise businesses with comprehensive financial solutions that prioritize scalability and efficiency. Since its inception, BeanSquad has grown impressively, supporting over 100 franchises across various industries, including The UPS Store, Dunkin’, Subway, Cold Stone Creamery, Hammer & Nails and Baskin-Robbins, among others.

For BoeFly, the partnership with BeanSquad addresses one of the most persistent issues in franchising: fragmented financial management. “Franchisees often try to manage their finances on spreadsheets,” said Rozman. “It doesn’t work. The lack of clear, accurate books can hinder their ability to scale or secure additional financing.”

By integrating BeanSquad’s outsourced bookkeeping services, franchisees now have access to robust financial reporting tools, including monthly profit and loss statements and balance sheets. This level of visibility is crucial for maintaining lender confidence and meeting loan covenants.

“Good books aren’t just a best practice; they’re a necessity,” said Rozman. “Franchisees shouldn’t be reconciling credit card transactions themselves — they should be focused on running their businesses.”

Integrated Financial Solutions

BeanSquad’s deep ties to franchising make them an ideal partner for BoeFly. The company’s ability to handle core bookkeeping, compliance and KPI analytics aligns seamlessly with BoeFly’s financing solutions. Together, the two companies offer a holistic approach to franchise support, ensuring franchisees are equipped to succeed from day one.

“We recognized that BeanSquad was already deeply integrated into franchising,” said Rozman. “They understand the unique challenges and needs of franchisees, which made them the perfect partner to address the feedback we were getting from lenders.”

The partnership is as much about supporting franchisors as it is about franchisees. With BoeFly’s financing expertise and BeanSquad’s bookkeeping prowess, franchisors can now offer their franchisees a comprehensive support system. This partnership underscores the importance of collaboration in franchising, enabling brands to strengthen their networks and scale effectively.

“Successful franchising is about working on your business, not in your business,” said Rozman. “This partnership ensures that franchisees have the financial tools and resources to do just that.”

For franchisors and franchisees looking to elevate their financial operations, the BeanSquad and BoeFly partnership is a game-changer. With their combined expertise, they are redefining what it means to be a true partner in the franchise space.