Accounting Services for Franchises in Australia
Franchise businesses are continually growing in Australia and has been a significant contributor to the Australian economy. Research shows that in 2023 the Australian franchise industry boasted a market size of $169.5 billion and employing over 600,000 people.
There are so many different franchises in Australia. Accounting for a franchise business is different to operating your normal business as there are so many other issues to consider.
Getting the proper advice when purchasing or selling a franchise business is very important.
Buying a franchise sounds easy in that the name, brand and concept is already in existence but in fact there are so many things to consider when buying and operating a franchise including:
- Initial capital outlay
- Ongoing franchise fees
- Cash flow projections
- Potential shop fit out and equipment costs
- Financing
- Type of support the franchisor will provide
- Type of industry the franchise operates in and the risks and competition
- Ensuring franchise agreements are reviewed properly
- Talking with current and past franchisees
- Due diligence
The value that one pays for the franchise business needs to be assessed and evaluated to ensure it is profitable and provides a good rate of return on the investment by the owner.
Interested in hearing more about how we can help build or grow your franchise?
At RCR Financial Group, we specialise in supporting franchise ventures, offering expertise in all aspects mentioned. Whether you are a franchisor or franchisee we can assist and offer solutions. We streamline financial reporting, analyze profit margins, and implement modern accounting systems to enhance compliance efficiency and accuracy. Operating a franchise requires careful consideration and planning.
Regardless of your franchise’s size, we possess the expert experience and knowledge to elevate your business. Interested in exploring how we can fuel the growth of your franchise? Get in touch with us today.
