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In his book "The E-Myth Revisited", Michael Gerber describes franchising as "The Turn-Key Revolution". He equates this to the Industrial Revolution, the Technological Revolution and the Information Explosion. He writes "For at the heart of the Turn-Key Revolution is a way of doing business that has the power to dramatically transform any small business - indeed, any business, no matter what its size - from a condition of chaos and disease to a condition of order, excitement, and continuous growth".
Whether you agree with that statement or not, franchising is indeed one of the important trends in Australian business life. Many people want to start their own business, but do not want the risk of starting an untried business system. Enter the franchise.
Cummings Flavel McCormack has considerable experience with franchising. We advise both franchisors and franchisees. Our services include:
- Finance applications
- Business planning
- Financial modelling (including profit projections and cash flow planning)
- Introductions to other advisers - particularly lawyers
- Structuring advice (what entity to own the business in)
- Accounting services
- Advising on avoiding the pitfalls experienced by other franchisors and franchisees
- Taxation consulting
- Leasing issues
- Being a "sounding board" for your ideas
If you are interested in learning more about how Cummings Flavel McCormack can help you, please call Neil Flavel on (03) 9252 0800 to arrange a no obligation meeting to discuss your needs.
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