The Lawler Partners franchise team, Lawler Business Essentials, provide a new and innovative approach to accounting within the franchise industry.
After significant study and research into the industry a large gap was identified between what franchisors and franchisees needed from accountants and the services they actually received.
This gap means there are many businesses within the franchise industry at serious risk with regard to their current accounting practices.
This identification by Lawler Business Essentials was the driving force behind the development of what we now term “The Six Essential Elements”, including:
1. Book keeping Support (for accurate & timely data validated by an accountant)
2. Taxation and compliance support ( to satisfy the ATO & other regulatory bodies)
3. Financial reporting ( to monitor and better understand business performance)
4. Management Reporting (specialist help to analyse where a business has been & where it is going and can go)
5. Business improvement strategies (to provide direction for growth & a plan of action)
6. Wealth creation plans (allowing for an orderly exit. Sale/Retirement etc)
These “Elements” are of course all the basics needed for any business to succeed.What makes Lawler Partners approach innovative is the fact ALL these services are available ‘in house’ for Franchisees.
Most franchisees are currently missing out on these ‘Essential” services because small accounting firms simply can’t offer the breadth of service and large firms don’t wish to work in this part of the Small Medium Enterprise market.
Many franchisees, believing there is no alternative, endeavour to cover Element 1 themselves while leaving Element 2 to an accountant to do from time to time. These practices are not only adding to risk, they simply aren’t cost effective. This means many well meaning and motivated franchisees will never achieve their full potential in business. Our goal is to work against this trend.
Lawler Business Essentials are delivering the desired results for many franchise groups based on these Six Essential Elements including Gloria Jeans, AGL Energy Shops, Hungry Jacks, Michel’s Patisserie Bakeries and Amber Tiles.
Having worked with Lawler Business Essentials, these franchise groups know, appreciate and understand the value of tailored solutions suited to franchises.
“Lawler Partners flexible attitude allowed them to tailor changes to their support program that better suited our needs. We now do all the back office ourselves and have confidence we are doing everything correctly. The result is a far greater understanding of our business.”
Amanda Kamholtz, AGL Energy Shop, Kotara.
The Six Essential Elements is based upon Lawler Business Essentials client needs analysis framework that guarantees a holistic level of service beyond traditional accounting and taxation services.
We aim to ensure that not only does each franchisee address the issues within day to day operations, but that they also understand the financial results and how they create wealth for the individual and group as a whole.
For further information on “The Six Essential Elements” in Franchise Accounting or other franchise matters please contact Director, Steve Meyn via smeyn@lawlerpartners.com.au or phone (02) 4962 2688.
