Texas Subs kicks off with Asset Station
Texas Subs owns and operates 48 Subway® Restaurants across the state of Texas. The franchise was established in 1991 with a goal of owning 50 stores by 2010; which has almost been achieved, three years ahead of time. Well known for their fresh sandwiches and salads, Texas Subs is, quite obviously, in the midst of a rapid growth period. The franchise has 400 employees between the restaurants and three office locations. Before installing Asset Station, Christy DeLeon, CFO of Texas Subs managed the franchise’s assets using Excel™ spreadsheets, which she found tedious and time consuming. She then relied upon a tax accountant to depreciate the items. Ultimately, their record keeping began to fall behind. “We purchased a new store in March 2006 and capitalized all of its assets at that time, however, the assets were not being depreciated during 2006 because we did not have a depreciation schedule in place,” said DeLeon. “Now in 2007 we will have to go back and make adjustments for all of those items.” In an effort to get back on track and prevent this from happening again, DeLeon went searching for an alternative asset management solution. “My goal going into this was to improve reliability and accuracy of reporting,” DeLeon continued, “Asset Station facilitates clean record keeping and, overall, provides me with a simple way to manage the restaurant’s fixed assets both efficiently and effectively.” DeLeon anticipates that it will take about 3-6 months to play catch up, and she expects smooth sailing from there. “We could have been benefiting from the use of Asset Station long ago; I am delighted to have it now,” commented DeLeon. Asset Station training sessions are intended to familiarize clients with the software so that they feel comfortable using it on their own right from the start. “I was very pleased with the training. Carrie, my consultant, covered all of the ins and outs in great detail. I think the most valuable aspect was learning how to produce reports and upload them into the GL system,” said DeLeon. In terms of growth plans for the franchise, Texas Subs is always looking to break into new markets and purchase stores from other franchisees. Since the original goal of owning 50 stores by 2010 is now easily attainable, they have set a new goal at 65. When asked about how RAMI might be involved in their growth plans DeLeon commented, “We lease a variety of assets, mostly cash registers and soda machines. At some point down the road we’ll take a look at lease management software (Lease4000), and asset tracking software (Track4000) might be a possibility as well. Asset Station will certainly get us off to good start though.” |
  
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