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After working with countless franchisees and franchisors across Australia in the last 20 odd years, it’s safe to say our team understands the ups and downs of the franchise world. Plus, to add to our practical experience, our director Martine Hoosen volunteered for 4 years on the WA Committee for the Franchise Council of Australia. Martine has franchised her own business and has owned 3 fast-food franchises in the past, so she understands both sides of franchising having been a franchisee and a franchisor herself. And that, tied her with numerous franchisees and franchisors that she has worked with over the past 20 years, results in her having extensive knowledge of this sector of business.
Here at Bookwiz, Martine and the team have worked extensively with Australian franchises (both franchisors and franchisees). We often help with financial literacy training, bookkeeping, payroll, and management reporting.
Joining a franchise comes with plenty of advantages. You get access to a proven business model and brand that already has a strong market, client base and recognition in the industry. Often you get access to detailed advice from the franchisor regarding the setup, training, planning and day-to-day running of the business. It’s likely that you’ll also get performance indicators to guide you as well. But running a franchise isn’t all smooth sailing.
There’s plenty of challenges that pop up for a franchise owner, many before you even open your doors. It’s hard to ignore the significant upfront startup fees and ongoing costs like payroll that are part of running a franchise. On top of these financial requirements, there will be sales and other targets to meet as well as requirements to report to the head franchisor reporting. It can be daunting, but Bookwiz can help.
Our years of working in the Franchise Sector in Australia has given us a level of insight that most bookkeepers and accountants just don’t have. This practical experience has taught us a lot about the inner workings of a franchise, helping us to understand what it really takes to make your franchise successful. We know that many franchises fail because of financial mismanagement and a lack of understanding on how to analyse essential business reports. We’re here to change that.
Bookwiz offers an end-to-end solution that covers bookkeeping, payroll, and management reporting. Our team will make sure you’re on track with debt, payroll, cashflow, KPIs, BAS, GST, IAS and more. Ultimately, we see ourselves as your co-pilot, helping guide you to success.
Being the franchisor in charge of a franchise group isn’t without its challenges either. You’re always fielding queries and requests from staff, monitoring KPIs and targets and trying to keep costs at a minimum. And on top of that, you need to provide the initial and ongoing training to your franchisees.
Our team is here to help you with these challenges. We work with franchise groups to deliver both Group and One on One training to incoming and existing franchisees covering topics such as; Best Practice Payroll Administration, XERO & MYOB Training, Intro to Bookkeeping & Record-keeping and Understanding GST & BAS as well as Financial Literacy Workshops. We also support franchisors by creating and delivering customised training and Op’s Manual writing. On top of all that, we also provide a full suite of ongoing Fixed Fee services covering bookkeeping, payroll, and management reporting. Talk to the team at Bookwiz today.