The first Franchisor Briefing Day

It's been an exciting week for FAN as we held our first Franchisor Briefing Day on Thursday. FAN members from all around Australia gathered in Sydney to hear 5 franchisors present details of their business and business model.

The Franchisor Briefing Day came about as a result of hearing from franchisors that accountants sometimes 'torpedo' franchise sales due to not understanding the business model. On the accountant side, FAN members are keen to learn more about franchise systems so they can better help potential and established franchisee clients.

A few weeks ago, Peter and I decided to do something about this. We invited 5 very diverse franchisors to come along and present to members of the FAN.

The aim of the Franchisor Briefing Day was to help FAN accountants and lawyers better understand each franchise system and so work with existing franchisees and prospects more effectively. 

FAN members heard from some of Australia's long established and large franchise networks, Mortgage Choice, Domino's Pizza, and the United Franchise Group (Signarama, Embroidme). Each have been going for 20 years or more. And for Evan Foster from UFG, this was his second visit to a FAN event as he spoke at our very first FAN training day in 2014.

We also heard from the CFO of relative newcomer but well known brand, Anytime Fitness Australia.

Kirk Hardy, the founder of The Drug Detection Agency and his colleague Glenn Dobson kept the FAN members so engaged they gave up their lunch break to hear more about this innovative franchise which originated in New Zealand. We got to know the folks from TDDA at the recent Sydney Franchise Expo. They are in the very important business of helping workplaces be safe by providing workplace drug and alcohol testing, education and risk management based prevention.

The information and understanding that the FAN accountants and lawyers gained will help them with pre-purchase reviews and financial projections, overcoming some of the challenges that franchisors have when prospects prepare unrealistic initial budgets and plans. It will also help them guide franchisees on how to plan for franchise specific matters such as franchise refurbishments, and in situations where business may not be performing as well as they would like.

The Franchise Briefing Day was really well received by FAN members and franchisors, and we'll be running them regularly through the year.

Franchise Accountants Forum 2015

We're excited to announce Australia's first event specifically for people interested in the financial aspects of franchising: The Franchise Accountants Forum 2015. Recent legal cases, financing challenges, and the new Franchising Code have highlighted the issues relating to the financial side of franchising.

The Franchise Accountants Forum is a one-day event where you’ll have the opportunity to gain new insights, network with your peers, and hear from leaders in franchising and accounting.

The forum is being help on ...

Tuesday 16th June, 9am to 5pm at ANZ Tower, 242 Pitt Street Sydney

Keynote speakers

• Dr Michael Schaper, Deputy Chair ACCC: Keynote address
• Mark Bilton, Former Group MD Gloria Jeans Coffees: "Authentic Leadership"

Other speakers include

• Sean Mura, CFO Anytime Fitness: "The role of the modern CFO in franchising"
• Doug Hutchinson, GM Operations, Barry Plant Real Estate:"Benchmarking:Tips and Traps"
• Peter Knight & Kate Groom: Co-founders, Franchise Accountants Network and Smart Franchise

It will be of particular interest to:

• CFO's and CEO's of franchise groups
• Finance Directors, Financial Controllers and internal accountants
• Accountants in public practice with franchise clients
• Lawyers in practice and in-house counsel

Eligible for 8 CPD/CLE hours

Tickets are now available! (Early bird pricing till 15th April)

Online event registration for Franchise Accountants Forum 2015 powered by Eventbrite

Thanks to the ANZ Bank for hosting this event!

FAN Training Day, Feb 2015

Great news…!  We have secured the Director of Small Business & Industry Codes at the ACCC as a guest speaker for the Franchise Accountants Network (FAN) Training Day on 23rd February 2015. He joins Gerry Gerrard of Bakers Delight and Bruce McFarlane as  keynote presenters.

The Agenda now includes:

• ACCC - Richard Weksler, Director of Small Business & Industry Codes, Australian Competition & Consumer Commission. Richard will speak on the topics of financial disclosure and the critical role of accountants in franchising. Not to be missed..!
• Bakers Delight - Gerry Gerrard, General Manager, to give an insight into their business and how we can work together. Gerry has oversight of franchising, legal, property & leasing and procurement. Come prepared with your questions!
• Hall & Wilcox –  Partner Bruce McFarlane,  to discuss the key elements in franchising a business and the role of accountants. He will also give a legal update about the new Franchising Code.
• Xavier Gene - former NAB senior lending manager regarding franchise funding submissions, including tips and traps for the unwary.

Peter Knight and Kate Groom will also be giving presentations:

• Update of the significant Franchise Accountant Network activity over the last few months, including our new initiatives.
• Review of resources which FAN members have access to, and how to use them to build your client base and grow your practice.

We’ll also have an update on what FAN members have been up to, including new business clients and new resources.

The FAN training day will be held on on 23rd February 2015 at Cliftons Melbourne, from 9.00am – 5.00pm.

Accountants in public practice and who work in the franchise sector are very welcome to attend, as are franchise lawyers.

We look forward to seeing you there.