Get it independently checked!
It’s a big step – buying your own business. You’ll be investing a large sum of money so the last thing you want is ‘buyer’s remorse’ after you have committed.
Instead you want it to work out exactly as you had envisaged.
Therefore, it is critical to get it checked out by the professionals FIRST!
The first important step is to have the numbers checked. Is the business feasible? Will it deliver the earnings and profits you need or expect? What capacity does it have for growth?
This information is critical in allowing you to make an informed decision.
We also know how to explain the findings simply and in plain language for you, ensuring you have the knowledge and the confidence in moving forward.
A business plan is a great tool for all business owners. It needs to not only outline the goals of the business but the actions also. Big bulky plans are ok however we advocate simple easy to implement plans. We even follow up on a routine basis to make sure the plan is being actioned.
Where a template plan has been supplied, we can assist in completing it as part of your finance and/or franchise application. This is an important point as getting bank finance will be determined on a number of factors.
One financing factor is brand accreditation. If the franchise brand you are looking to buy into is accredited with the bank you may need less deposit and collateral compared to non-accredited brands. We can help you with this.
One of the key services we offer our clients considering a franchise purchase lies in financial budgeting.
We will forecast several cash flow and profit scenarios for you based on a number of different criteria. This will give you a good understanding of the outcomes you can expect based on a number of trading scenarios.
What structure will you run your business through? The answer needs to consider many factors including personal risk and tax implications. Structures include sole trader, partnership, company and trusts.
Our specialist team will not only help you decide on the right structure they will also set it up for you.
So whether it be reviewing the value of a potential purchase through to liaising with funding bodies on your behalf we have the experience to help you.
Give us call and book an appointment to see one of our specialist advisors. You’ll walk away with greater clarity and confidence in taking this big step.
We have worked hard over the years to develop the systems that make it easier for making getting into and profiting from your own franchise business.
Whether it be reviewing the value of a potential purchase through to liaising with funding bodies on your behalf we have the experience to help you.
Many franchises have great internal marketing including in store advertising and point of sale systems however many do not have the broader marketing processes required to really grow the business. We have dedicated business advisors who specialise in assisting franchisees get their external marketing firing to drive up sales, cost effectively.
Our business advisors work in the field with you to ensure the goals and strategies for growth are in place and being implemented. Partnering in this way is the key to helping our clients realise their goals in a timely manner.
Many franchisees work long hours at the ‘coalface’ of their business so we have developed services that take away some of the pressures experienced. These include:-
1. Outsourced financial management – full or in part
3. Individual wealth management
To learn more about how Forsythes Business & Financial advisors can help you with any franchise accounting, sales & marketing or business advice relating to franchises, please call us on (02) 4926 2699, or enquire online here.