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Why do you need a specialist franchise accountant?

If you’re considering venturing into franchising, whether as a franchisee or franchisor, having the right team by your side is paramount.  

At EKWGroup, we have been at the heart of the British franchising industry for generations, with a team of specialist franchise accountants dedicated to supporting your business journey. Our comprehensive business solutions are tailored to the unique needs of your franchise, with robust financial strategies offering seamless operational execution from day one!   

Whether you‘re operating in retail, convenience, kitchen manufacturing, optometry and more, we can provide the support to tackle your needs head on! 

But what exactly are the benefits of working with a franchise accountant? Well, as an Advisor Member of the British Franchise Association, we’re recognised industry specialists, who offer support to businesses across a wide range of sectors.  

Franchise-Specific Accounting Practices 

Our team of accountants boast a particular set of skills dedicated to the franchising industry. At EKW Group, we understand the difficulties that franchisees and franchisors have to hurdle. With us by your side, we can overcome these challenges with our specialised accountants. We have a deep understanding of franchise business models, agreements, and royalty structures, as well as the specific accounting and financial reporting requirements associated with franchising.  

This effectively takes the away the stress of having to manage accounts in accordance with general principles and agreements. Our team will offer full support surrounding these complexities, ensuring your business can thrive. 

Legal and Regulatory Compliance 

Our franchise accountants are knowledgeable about the legal and regulatory frameworks that govern franchising, which differ from traditional accounting practices. We ensure the laws and tax related regulations are fully complied with to avoid any potential penalties.   

Financial Analysis  

We provide specialised financial analysis and guidance tailored to the needs of franchisees. This includes assessing the financial viability of your franchise opportunities, conducting cost-benefit analysis of investments, and offering strategic financial planning advice to optimise profitability.  

Franchise Contracts  

We’re proficient in reviewing and interpreting franchise agreement to help you understand your financial obligations under the contract. This includes royalty obligations, advertising fund contributions, and other financial terms.  

Operational Support 

There is much more going on beyond standard accounting functions. We understand that with franchising comes different operational needs, as opposed to standard business practice. We offer outsourced payroll and HR services enabling you to focus on what matters most – a thriving business! 

Additional support provides an understanding of your performance against industry standards, identifying cost-saving opportunities, and providing financial insights for your business to succeed. 

Our team of specialist franchise accountants are equipped to help you navigate the intricate financial landscape of the franchising industry.  If you are interested in our services and have any queries, please contact [email protected] for more information.  

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