Blog
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.
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.
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.
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.
The best time to put on a new employee
Putting on a new employee is a big decision for any business owner, particularly in your early days. There is a financial commitment, as well as emotional commitment to be sure your business can sustain the new employee and associated costs. This post looks at five areas to consider before you employ your new staff member.
Is a ‘Bonus Gift Card’ better than a Discount?
There is nothing good about a discount. It hurts your Gross Profit - it robs you of cash! A Bonus Gift Card on the other hand... sends a totally different message AND keeps the money in your pocket!
A reflection on 2020…
But more than simply looking back, it's equally important to set the sights on the year ahead. Because, if there’s one thing we should learn from 2020, it’s this: something is surely to happen that will take us by surprise. But that’s not the important bit... It’s how we prepare for it and deal with it that matters!
Hospitality can be tough.
We speak to Anja Carruthers, virtual CFO for hospitality businesses to understand a little bit more about the industry here in Australia and back in Austria where she is from.