Buying a franchise: 5 financial conversations you must have

To have the best chance of success in a franchise it’s important to thoroughly assess the financial aspects of starting and running a business. Based on our experience there are 5 financial conversations you must have when you assess a franchise opportunity. These conversations will help you build a solid foundation for success and reduce […]

Goals for a healthy business

Well, here we are in 2013! What do you want to be saying about the year on 31st December? Where you get to in the 365 days ahead will depend to  a large degree on your goals. So that’s where we’ll kick off the year. Goals can be tricky things, simple in theory but it’s […]

An expense review alphabet

There are two ways to increase profit: increase income or adjust expenses. Successful businesses look for ways to attract customers and increase income while containing costs. When it comes to adjusting costs, a line-by-line review of the Profit and Loss statement is the best place to start. Print out your full year P&L, and challenge […]

What to consider before you finance a franchisee into business

Vendor financing and other financing solutions can help franchisee and franchisor achieve their goals, but do they divert attention from a bigger issue? Years ago I met a franchisee  given a start by a franchisor who lent him the money to fund the business. It produced a win for both of them. The young prospect […]

How to cope with a cash flow crisis

How would your business cope with a cash flow crisis? Hopefully it will never happen, but if it does, a methodical approach can help you survive. Of course, we know prevention is best. Run the business well, have sound financial management practices and don’t let a financial problem happen in the first place. But the […]

How to cope with the carbon tax

While the carbon tax is not a direct tax on small business, there will be indirect impacts that every business needs to consider.  Franchise businesses, both franchisee and franchisor, need to consider this. Most business won’t pay a carbon price, and they won’t have additional paperwork or compliance costs. However, carbon pricing will have a […]

Financial goals for your new franchise

People go into business to make money. It’s not the only thing that matters but it is very important.  We need enough to live comfortably and we want to be financially secure. It’s important to be clear about your financial expectations before you become a franchise owner. Knowing this will help you make an informed […]

Financial foundations for survival in uncertain times

As 2012 gets underway, experts predict slower growth and uncertain times ahead.  Even experienced business owners and managers are now encountering unfamiliar territory. For some, profits are threatened and cashflow stretched. Others are eager to capitalise on new opportunities for growth. Most are facing changes to their cost structures. This highlights the need for tight […]