buying a franchise
Financial Due Diligence - How we Help
Buying a franchise is a big decision. In fact, it might be one of the biggest decisions you make in your life!
And it can have big financial consequences, particularly if things don’t work out. That’s why it’s so important to get franchise advice from experienced franchise accountants.
The process of buying a franchise is a bit like a journey and tends to follow these steps:
You make initial inquiries about the franchise
Receive various documents and information from the franchisor, or broker
Start your due diligence, get a Pre-purchase Review underway
Obtain legal advice, if you decide to proceed
Submit bank loan application, set up bank accounts
Prepare your business plan, for your franchisor and bank
Establish your business structure, registrations with the Tax Office and ASIC
Set up accounting software systems and record keeping processes
Franchise training, employing staff, opening and launch! (Yay!!)
We have helped hundreds of new franchise owners through the buying journey and on to a successful business. We’d be happy to discuss the steps involved and provide you with guidance when needed.
Our work together typically starts with the Pre-purchase Review which covers the financial aspects of the franchise you’re looking at. If you then decide to proceed further we can assist with the franchise accounting, set up and training. But that all comes after you’ve made your initial decision.
To get started, click on the button below for more information on our Pre-purchase Review.
the BEST time for a Pre-purchase Review
The best time to obtain your Pre-purchase Review is after your initial discussions with the franchisor and you’ve decided you want to proceed further.
It's also a good idea to get it done before you approach the banks, as they like to receive the report, as well as supporting cashflow projections.
To prepare the Review, we use the financial information you've received from the franchisor, and any other information you’ve put together. We’ll prepare our written report based on this, together with information included in the Disclosure Document, or other information provided by the broker.
steps involved:
Contact us for initial discussions
Provide information for us to prepare the Review
Discuss the Review with you once it’s been completed
If you proceed with the franchise, we can advise you on business structures, accounting set-up and ongoing franchise advice
Click on the ‘Contact Us’ button below to have a chat and clear up any questions you may have. We can then talk about the next steps and get started.