Recently we presented to Zones Franchisees (Landscaping Specialists) at the Chateau Tongariro - our brief was to impart key accounting knowledge that Franchisees could use in the running of their business. Some of the Franchisees are relatively new to running a Franchise so were eager to learn and develop their business.
Three key areas we looked at were:
Cash is King! Invoice weekly or monthly. Collect your accounts receivable quickly!
Tax. It's a pain but it means you are making money. Claim all the expenses you can.
Planning. A financial forecast for the next 12 - 36 months is key to know where you are going.
We also presented on Xero and how to best utilise it in your business. Wow what a great session! Once you know xero and update it daily it's a very powerful tool.
We thoroughly enjoyed being part of a great Franchise and meeting all the Zones Franchisees. If you need advice from us or training on xero, just ask. We are always happy to help.