An affordable and expert
franchise accounting service
for franchise business owners.
Buying a franchise business? Get the right advice
Buying a franchise business is a big decision and you need to get the best advice before you sign a franchise agreement. It’s important to evaluate any new franchise opportunity to make sure it is right for you. With over 80 branches nationwide, SBA already help over 1000 franchise businesses with their accounting needs. Part of a nationwide franchise too, your local SBA can help you evaluate a new franchise opportunity and provide reporting and financial commentary to help you to get finance, plus ongoing accounting support, advice and help.
We have over 80 branches nationwide so get in touch with your local SBA Branch today and choose the franchise accounting service that’s right for your franchise business.
Why use SBA?
Franchise Accounting Services
SBA can help you evaluate a new franchise opportunity so you understand profitability and costs and if you can afford to run it. We can also provide financial reports and commentary to help you get finance along with helpful advice and support.
SBA will set up your franchise structure, help manage your GST and monthly bookwork and prepare and file your tax with the IRD (IR3/IR4). SBA can also help with your employer obligations including RWT, PAYE and ACC. SBA will keep you compliant with the IRD.
SBA are also focused on helping you grow your franchise business and can provide franchise business planning, cash flow forecasting, budgeting and accounting advisory support and advice to help your franchise grow.
As we are a franchise too, we will provide helpful resources and tools to guide you along the way including, case studies, articles, tips and tricks and other helpful information. You can also pick up the phone, email or visit one of our branches when you need help.
What type of accounting do I need for a franchise business?
As a franchisee, you will have accounting needs typical to other types of businesses, but you also need to consider the unique fees associated with owning a franchise, including royalty fees, amortizing initial fees, and marketing fees. If you are GST registered you will need to manage your GST, along with your monthly bookwork and preparation and filing of your end of year. If you have staff you will also need to manage PAYE and ACC.
Do I need an accountant to do my accounting, or can I do it myself?
Most small business owners, including franchisee’s don’t have the skills or time to manage their accounting. It is important that you work with an accountant like your local SBA who understands your specific accounting requirements so you can have confidence that your tax obligations are covered, and you can focus on growing your business.
What does an SBA franchise evaluation involve?
An SBA pre-purchase evaluation is to help you understand profitability and costs and if you can afford to run it. We will evaluate any current or projected financial information you have been given and can provide budgeting and cash flow forecasts to help you work out how profitable the business needs to be to break even. It will also help you figure out how much you may need to invest up front or figure out what working capital you may need both initially and in first 2 years including power, rent, wages, stock etc Note SBA will not value the business or give guidance on how much you should pay for it.
What expenses can I claim for my franchise?
As a franchisee, you are entitled to claim all the same business expenses as the owner of a standard business.
This includes things such as rent, running costs, employee’s wages and equipment. See the full list here.
What do I need to think about when evaluating a new franchise opportunity?
There are a lot of factors to consider when you are evaluating a franchise opportunity. These include the state of the market, franchise fees, trade restrictions, sales history and profitability. Learn more about what you need to think about before purchasing a franchise business here.