Franchise Accountants Forum Speakers

The Franchise Accountants Forum is being held on Tuesday 16^th June in Sydney (9am to 5pm). It is our flagship event of the year and will be a fantastic way to build your connections and increase your franchising knowledge. This event is specifically designed for the key decision makers and financial people inside franchisors. This includes CFO’s, Finance Directors, Financial Controllers and CEO’s.

We have some fantastic speakers lined up. Here's who they are, and what they will be speaking about.

Update (19th June) - We've added some additional sessions, including discussion time and a couple of hot topics including Financial Distress in franchise systems and how to handle it. You can view the agenda here Agenda FAN Conference 2015.

Cracking the new Franchising Code: What accountants need to know

Speaker: Dr Michael Schaper, Deputy Chair ACCC

ACCC Deputy Chair, Dr Michael Schaper, outlines the main financial aspects of the new Franchising Code of Conduct. Dr Schaper also provides an insight on the pivotal role accountants play in advising franchising clients.

 

Get real boss! Unlocking potential through authentic leadership

Speaker: Mark Bilton, Managing Partner, Thought Patrol

Mark Bilton is a “Change Catalyst” with extensive Managing Director and CEO experience. His previous corporate role was Group Managing Director of Gloria Jean’s Coffees’ global business, leading 40 countries.

Mark has an MBA from Auckland University and is a Fellow of both the Australian Institute of Company Directors and the Australian Institute of Management.

Mark has led transformational change in many sectors and is internationally recognized for excellence in ‘Business Transformation’. In 2011 he was awarded the “Young President’s Organization’s’’ prestigious “Terry Plochman Award” for global “Best of the Best”. Last year he received the Michael Page ‘2014 Australian Retail Executive Award’.

Mark has a passion for helping individuals and companies ‘realize their potential’. Currently he achieves that goal as Managing Partner of leadership advisors; Thought Patrol.

Benchmarking Tips and Traps

Speaker: Doug Hutchinson, General Manager Operations, Barry Plant Real Estate

Benchmarking can be extremely helpful for a franchise system, both to stimulate performance improvement and demonstrate the value of the franchise to prospects. But it’s not always plain sailing! If misinterpreted, benchmarks can lead people to draw wrong conclusions and make poor strategic decisions.

Doug Hutchinson was instrumental the implementation of a centralised business intelligence platform for Quest Serviced Apartments. He is now developing information systems for the Barry Plant real estate group.

In his talk, Doug will highlight the tips, traps of benchmarking, and the role an accountant can play in designing and implementing benchmarking in a franchise.

The role of the modern CFO

Speaker: Sean Mura, CFO Anytime Fitness Australia

Sean Mura will explain why the modern CFO is much more than someone who looks after simply accounting and compliance, and what skills are needed to fulfil this role.

The CFO plays a key role in providing information and insights that help a business use resources effectively, make informed decisions, and obtain financing.  In his talk, Sean will also explain how experience beyond accounting, communication and leadership skills are vital for accountants who aspire to leadership roles.

Economic Update

Speaker: Katie Hill, Economist, ANZ Bank

Katie conducts research and analysis in relation to the Australian economy, with a particular focus on the household sector and inflation. Prior to joining ANZ she worked in the Australian Economics and Strategy team at Morgan Stanley. She holds a Bachelor of Laws degree and a Bachelor of Business degree (majoring in Economics) from the Queensland University of Technology.

Why choose a franchise accountant?

The Franchising Code of Conduct states prospective franchisees must be advised to obtain independent accounting and business advice. But is it really necessary? Who should you get advice from, and what should you ask? Let’s take a look… As a franchisee, your income will depend on the financial results of the business, you’ll be investing your own money and probably taking on debt. Therefore, it’s wise to carefully consider the financial implications.

Franchise Disclosure Documents contain important financial information that (when used and understood properly) can help you make an informed decision. However, it’s not always easy to make sense of – especially for people who are unfamiliar with franchising and financial matters. That’s why it makes sense to consult an accountant who understands franchising.

The right accountant can be a great help in your franchise journey. They can help prepare financial forecasts, identify risks and bring an independent perspective. But when it comes to franchising matters, all accountants are not the same!

It’s important to understand there are different types of accountant. Some focus on personal income tax - you might have used one to do your own tax return. Others mainly work with established businesses. A few specialise in franchising; they understand the special features of a franchise that don’t apply in other businesses.

Once you’ve found an accountant, what advice are you looking for? An important part of their role is to help you understand the financial aspects of the business. They should be able to help you answer these three questions:

1. How much will it cost to start the business?
2. What will it cost to run the business day-to-day?
3. What sales are needed to cover the costs?

Your franchise accountant should also highlight the main financial risks relevant to your circumstances.

The financial side of buying a franchise is really important and needs to have your attention. That’s why the Franchising Code recommends you get advice on this aspect, and it’s best to choose an accountant who understands franchising issues.

This article was first published on www.franchiseaccounantsnetwork.com