Blog
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.
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.
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.
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.
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.
“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.
How to increase your sales
Many people ask us, “How do I increase sales?” This is an important question and is critical to the success of any business. The ability to increase sales will support the sustainability of the business and allow the business owner to continue to provide employment, make profits and reinvest back into the business. There is nothing more important to a business than to increase sales revenue.
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.
How to make the most of the COVID Lockdowns
How to make the most of COVID Lockdowns. This article provides the Ten Top Tips on how to make the best of the COVID lockdowns. Take a positive attitude to this situation and see it as an opportunity to develop your thought, put together a plan for the future so you are well placed for when we come out of this.
“Should I buy an IGA Supermarket?”
This article focuses on the key issues to consider if you are looking to buy an IGA Supermarket franchise business. This is an important decision so you should carefully do your due diligence and review the numbers of the business before you buy.
Choosing your business hours - surely it’s easy?
Sounds amazing! But are there any bad moves you could be making and not even being aware of it? How about being the caffeine hit for your local area, and closing on a Monday?! Read on to find out why this is a terrible business move.
