Specialist Accountants for Franchises
UK Franchise Accountants
Our dedicated team works with franchisees and franchisors up and down the country. Providing you with tailored financial advice on the challenges and opportunities that come with franchising. Ensuring that your business operates at maximum financial efficiency. We specialise in advising on all areas of accounting and tax for franchise businesses.
Whether you’re looking to navigate complex franchise tax structures, optimise your profitability, or expand your franchise network, our experts are here to guide you every step of the way. We offer a comprehensive range of services which can support you, and help your franchise thrive.
Supporting franchisees and franchisors
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Accounting for Franchisees
Our experience as specialist franchise accountants enables us to provide franchise services with a balanced mix of technical and commercial advice, whilst at the same time making us aware of the issues applicable to this field.
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Accounting for Franchisors
As specialist franchise accountants, we can take away the responsibility for advising and training franchisees in financial reporting, leaving the franchisor free to concentrate on developing the business, and can help franchisees in setting up a successful franchise.
Experience and expertise
DJH has the expertise
We set ourselves apart through a combination of expertise, dedication, and a deep understanding of the franchise industry. With a track record spanning numerous successful partnerships with franchisors and franchisees alike, our team of seasoned accountants possesses an unrivalled grasp of the unique financial intricacies.
Our team is dedicated to staying at the forefront of industry and regulation updates. Ensuring we only offer accurate advice. This means our tailored solutions help our clients to maximise profitability, minimise tax burdens, and streamline their financial operations. We provide support based on your franchise’s growth objectives, allowing you to make informed business decisions.
Trust DJH to be your financial partner as a franchisee or a franchisor. We can support you to make financial decisions that benefit your business now, and for years to come.
Our franchise accountancy services
Why choose a specialist franchise accountant?
Whether you are a franchisee or franchisor your needs will be met with our extensive support available at DJH (formerly Morris & Co) and you can be assured of a rapid response. We’re proud to be an Affiliated Professional Advisor of the British Franchise Association (BFA), so we understand the industry.
We believe that it is important to provide continuity of the people who you deal and we believe that the DJH Franchise accounting team will provide this.
You can have confidence in our ability because our reputation is good not only with our existing clients but also with the commercial community and we have earned the respect of HM Revenue & Customs. We have extensive experience in saving franchisees tax and can offer you a full tax planning service.
You require a firm with experience and expertise that meets your needs. We will meet your needs and help you to save tax and maximise profits.
Industry specific support
Financial Advice for those in the Franchise Industry
Franchise businesses encounter industry-specific challenges and opportunities that demand specialised attention in the field of accounting and tax. Both franchisees and franchisors face intricate financial dynamics, such as revenue-sharing models, and brand compliance. This requires a comprehensive accounting system which has the ability to track and allocate revenue accurately.
The franchise business model offers a tried and tested model which in turn reduces business risk. Offering a recognised brand and operations framework. Franchisees must ensure they carefully manage their operations and finances to maximise the success of their franchise. Our specialist accountancy services are designed to support you with challenges and advice on how to take advantage of opportunities.
Setting Up A Successful Franchise With A BFA Approved Accountant
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Define your franchise investment
The first step you must take before investigating franchising is to establish exactly what level of investment you can comfortably afford to make. Don’t forget that as well as the initial franchise costs, there may well be other setting up costs and you will need some working capital until the business is running profitability which may take a year or more. Remember, it is better start out with more than you need rather than less.
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Does it suit you?
Far too many people forget to assess their own suitability to the business and this mistake can lead to years of unhappiness, not just for you, but for your whole family. You need to determine whether the franchise suits you, what are your needs, your wants and also what are the needs and wants of your family.
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Choosing the industry sector
You must consider the market and avoid industries that are ‘fad industries’. This needs careful consideration and also needs to be linked to your own abilities and what you would be happy doing.
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Getting professional advice
Advice will come in three forms:
- Legal – BFA approved solicitors
- Financial – BFA approved accountants
- Commercial – from other franchisees, the franchisor, the British Franchise Association and other bodies.
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Evaluating information
Buying a franchise can involve a lot of emotion, as it is most probably a life changing decision. It often helps to get outside assistance at this stage from someone who is not emotionally involved in the research that you have already made.
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Making you decision
After carrying out the stages mentioned above, your decision to join a franchise should be relatively easy, but if you don’t feel 100% comfortable with the decision, start the process over again. It is also a good idea to check if the franchise is registered with the British Franchise Association (BFA).
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Obtaining finance
Entrepreneurs looking to invest in a franchise business can be sure of two things. Lenders will want to see strong business plans and will be prepared to lend up to 70% of the initial start up costs. Again, seek professional assistance with your business plan to make sure that the business has a realistic chance of viability. With our wealth of experience in advising franchisees we can help you to set up a Business Plan ready to obtain funding for your Franchise.
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Working as a franchise
When you have successfully negotiated all the above , the difficult part is making your business work. You must regularly compare your achievements with your business plan and adjust your business methods or the plan, so that you know where you are going, how you are going to achieve it and when.
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Success
A franchise business has considerably more chance of achieving success that any other business starting from scratch. We hope that having followed all the above processes, you have invested in a successful and profitable business, but again, you need to seek professional advice, to ensure that you are not paying too much money to the tax man!
Franchising your business
As BFA-affiliated franchise accountants, we help you determine whether or not your business is suitable for franchising and provide help and advice. We can also put you in touch with other specialist franchise advisors who can help you develop the legal and operational frameworks that you will need.
A franchised business needs strong financial control to ensure measured and sustainable growth. The peculiar taxation treatment of franchises and “goodwill” relating to them needs to be always borne in mind.
As BFA Affiliated accountants, we can help you through these potential problems. Franchising your business enables you to expand using other people’s capital and achieve faster growth. You will also be harnessing the enthusiasm and motivation of the owners/managers driving the business.
Our Franchise Team
Our team of specialist franchise accountants boasts an impressive wealth of accounting and commercial expertise. Collectively, they have over two decades of experience within the franchise sector.
Leading this specialist service is Desirie Lea, a highly accomplished chartered accountant whose professional journey has been dedicated to the intricate world of franchising. Desirie’s specialisation in representing franchisees and her ability to navigate the unique financial landscape of franchise businesses is underscored by her management of a substantial portfolio of franchise clients all over the UK. As a Qualified Franchise Practitioner, Desirie’s credentials and proficiency in franchise accounting are second to none.
DJH offers you the assurance that your franchise business accounts are in the most capable hands. With extensive knowledge of franchise-specific dynamics, tax intricacies and regulatory requirements. As your reliable financial partner, we help to optimise your financial operations and achieve your franchise business objectives. Trust DJH to deliver dedicated tailored financial solutions and expert guidance that will drive the success of your franchise enterprise.
