Blog
Buying a Subway?
There are plenty of people thinking of buying a Subway Restaurant at the moment. However, there are a number of factors to consider before you dive in and buy a Subway restaurant. This post highlights the key points to consider before you buy a Subway Restaurant.
Is a World Gym a good franchise to buy?
The World Gym franchise has a strong brand and loyal following of regular members. These are the key points with any strong franchise brand. The World Gym franchise delivers on their promise and provide a sound system with strong support and training. World Gym is definitely worth checking out.
Be more than just a ‘fair weather friend’.
Coping with tough times. Being available for someone to talk to. Being there to help. These are core principles of friendship, but they don’t need to be restricted just to our friends. Caring for others is our responsibility, our duty. Take the moment to step into the person of care and courage you can be.
How to buy a Boost juice from a Multi Site franchise operator?
Buying a Boost Juice Franchise can be a great investment. Boost Juice has a strong brand, with good internal systems and support. This post highlights the way to deal with multi site operators who own the site you are looking to purchase.
Accessing the equity in your house to buy a franchise
Some people like to access the equity they have in their property to fund the purchase of a franchise business. This means they continue to use the security they already have and are simply taking advantage of the increased value of their property. This article considers the way the banks look at the additional borrowings taken against the home equity.
Factors to consider when buying a gym.
Buying a gym is a big decision. There is a financial cost and also the time you spend in the business. Which gym to buy is also big question. Should it be Anytime Fitness, F45 Training, Snap Fitness, Plus Fitness, Listen To Your Body, Jetts Gym, KX Pilates or should you check out some of the newer brands coming on the scene, including Combine Air or InLIFE Wellness? Be sure to check the financial information provided and check the credentials of the franchisor.
COGS. What is Cost of Goods Sold and why is it so important?
Cost of Goods Sold (COGS) is one of the key costs to monitor in every business. It is a measure of the costs of the goods or services we sell. It is one of the largest expenses for many business which means it should be carefully monitored to ensure it stays within guidelines.
Should you put your prices up?
Pricing is a tricky issue. But whether or not to put your prices up is also a strategic decision. It influences the clients you attract. Premium pricing sets you apart in the market. Discount pricing may attract customers but there is low margin. This post discusses three methods to increase your prices.
Running your business through a family trust
There are key advantages to run your business through a family trust structure. This post discusses the three most popular reasons for running a business through a family trust structure. It also discusses disadvantages of using a family trust structure to run your business through.
How to run a successful business.
There are certain fundamental elements to running a successful businesses. This article discusses the core elements needed. Essentially, you need to meet and discuss the business performance on a regular basis, with no exceptions. At this time, you should check your progress against your plan, to see if you are on track. It is also important to manage your tax position effectively. At the core of each business is that things can change very quickly. It is important to be able to review, adapt and respond to succeed.
The real reason to review financial reports.
Financial statements show us the financial performance of a business. They show the profitability and also the financial strength of the balance sheet. But this is only useful if one takes the time to actually look at the reports to see it for themselves. Many business owners do not look at financial reports. And even if they did, they would not understand what they are looking at. It is up to franchise accountants to explain what is in the financial reports and how they can help the business owner.
“How much profit should I make?”
Making a profit is one of the fundamental elements of running a business. It means the business is sustainable in its own right, can provide employment, which allows employees to earn a living and pursue their own dreams and aspirations. But the question is often asked about the level of profit and whether it is sufficient. This article addresses this question and considers alternative methods to assess the appropriateness of profitability.
Obligations to refurbish your franchise.
There are many situations where a tenant is required to undertake a refurbishment of their premises. This can be required either by the franchisor or the landlord. There can also be significant costs involved so it is important to have a clear understanding at the start regarding the future capital expenditure requirement.
When should I put on a new employee?
The decision to put on a new employee is a big decision and not to be taken lightly. You should put on an employee in anticipation of growth, not in response to growth. It’s best to seek advice from a franchise accountant to be sure your funding will cover the increased expenditure.
“What is a Business Health Check?”
A business health check is one of the tools franchise accountants use to assess the financial health of a business. A business health check provides insights into the financial performance of the business. It identifies the strengths of the business, while also highlighting areas of risk and exposure. It is one of the most important tools for a business and franchise accountant.