It’s been a challenging year for businesses in the personal services industry, but that hasn’t stopped PCRK Group from looking ahead, planning for the future, and positioning the company for growth.
Phoenix-based PCRK owns and operates 68 Massage Envy locations across 10 states and has plans for expansion to more than 100 units. To support its growth, the company recently implemented Leasecake so the corporate team can stay on top of all the time-sensitive, business-critical events related to running a sizable multi-unit operation.
“For us, it’s about tracking more than leases,” said CFO Spencer Manke. “When I saw the Leasecake demo, I loved seeing that the software provides one place where we can see all the upcoming events we need to be aware of across our locations. We can track business license expirations, rent increases, lease renewal options notices, and things of that nature.”
When he vetted software solutions for lease and location management, one of Manke’s top concerns was compliance with the upcoming ASC 842 lease accounting standard.
“As a private company, we have to prepare for the new rules that will require us to capitalize operating leases,” Manke said. “And Leasecake’s ASC 842 module makes it a lot easier because we’ll have the entire lease inventory in the system.”
Many franchisee groups outsource their accounting, payroll, and reporting services to third-party providers that offer a full suite of services but fall short when it comes to lease and location management.
“ASC 842 compliance is not the stuff CPA firms like to do. I don’t think anybody likes to do that part of it,” Manke said. “They price it in a way that encourages you to either do it yourself or find another application — like Leasecake. And I think it’s smart for you guys to offer the ASC 842 module, because you’re already capturing all the information anyway.”
If you’re managing multiple locations and looking for a way to simplify your operation and free up team members to focus on the core business, then try Leasecake for free and see how operators just like you use it to save time and money.