Averan HOTWORX Bookkeeping Conversion Package
Averan Advisors takes over the books for an open HOTWORX location from your current bookkeeper. We review what you have, fix what is wrong and switch at a month end, so no month is missed or closed twice.
The HOTWORX conversion package
The conversion package is for HOTWORX owners who already have a bookkeeper and want to switch. The work follows HOTWORX’s 2026 FDD and your franchise agreement. A dedicated fitness specialist handles your account.
- A written review of your current HOTWORX books.
- Every account matched to its statement on your switch date.
- Accounts rebuilt to produce the monthly report HOTWORX asks for.
- Recent HOTWORX royalty and fee charges checked against your agreement.
Do you have 30 minutes this week? Book a 30-minute call.
What the HOTWORX conversion package includes
Books review
We review your current HOTWORX books and send you a written list of what is wrong and what it takes to fix it.
Clean opening balances
We match every bank, card and loan account to its statement on your switch date.
Reporting format
We rebuild the chart of accounts so the books produce the monthly report HOTWORX asks its owners for.
Fee check
We recalculate recent HOTWORX royalty and fee charges from your sales and check them against your franchise agreement.
Systems reconnected
We reconnect the point-of-sale system HOTWORX requires, its membership and class booking system and your payroll to the books.
Records collected
We collect the files, workpapers and logins your current bookkeeper holds.
Analytics package
Each month we compare your results with the figures in HOTWORX’s 2026 FDD.
First close on time
We close your first month with us by the 15th of the next month.
Timeline
- 1Kickoff5 business days
We hold a kickoff call and request access to your current books.
- 2Review10 business days
We send written findings, a scope and a price.
- 3CleanupSet in the scope
We fix the errors we found and rebuild the accounts.
- 4CutoverYour switch date
We move your systems to the new books and lock the opening balances.
- 5First closeBy the 15th
We close your first month and send your reports.
We set your switch date at a month end. Your current bookkeeper closes the month before it, and we close every month after it.
What we check in your current HOTWORX books
Reconciliations
Every bank, card and loan account matched to its statement.
Royalty and fees
HOTWORX charges recalculated from your sales and checked against Item 6 of the FDD.
Uncategorized items
Transactions left uncategorized or recorded as miscellaneous expense.
Balance sheet
Loans, payroll liabilities, sales tax and owner money explained.
Franchise fee and build-out
Recorded as assets and spread over the years they cover.
HOTWORX reports
The books produce the monthly report HOTWORX asks for.
HOTWORX figures from the FDD
HOTWORX franchisees averaged $379,298 of sales in 2025, according to Item 19 of HOTWORX’s 2026 FDD, issued 1 April 2026. The 700 in that group are 88%* of HOTWORX’s 797 locations. A HOTWORX franchise costs $288,890 to $830,380 to open, including a $19,950 initial franchise fee.
95 HOTWORX locations opened in the last year that Item 20 of HOTWORX’s 2026 FDD reports.
At the end of the last year that Item 20 reports, HOTWORX had 220 franchise agreements signed for locations not yet open.
Send us to start
- Your signed HOTWORX franchise agreement.
- HOTWORX’s current FDD.
- Your last 12 months of financial statements.
- Your last 12 months of HOTWORX reports.
- Last year’s tax return.
- Your loan agreements and statements.
Access we need
- Accountant access to your current QuickBooks file.
- Your payroll processor.
- The point-of-sale system HOTWORX requires.
- The membership and class booking system.
- The HOTWORX reporting portal.
- Your invoice and expense software.
- View access to your bank accounts and credit cards, with no power to move money.
- How you want inventory tracked.
- The files, workpapers and logins your current bookkeeper holds.
Questions from HOTWORX owners switching bookkeepers
Can I switch my HOTWORX books partway through the year?
Averan sets your switch date at the end of any month you choose.
What do you check in my current HOTWORX books?
We check that every account matches its statement, recalculate recent HOTWORX royalty and fee charges, clear uncategorized transactions, explain every balance sheet account and confirm the books produce the report HOTWORX asks for.
Who owns the QuickBooks file?
You do. If you already have a QuickBooks Online file, we work in it with accountant access. The file stays yours if you leave.
* Averan Advisors calculation from the figures in HOTWORX’s 2026 FDD.
Where to next
Talk to us about switching your HOTWORX books
Send the short form for the HOTWORX conversion package, or book a 30-minute call about your current books and your switch date.
Request the conversion package → Book a 30-minute call