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A lot of factors can contribute to how well a business performs. Help better your franchise by:

Accepting card payments.

Do you get stuck sometimes at a store when you expected to you your debit card, but they accept cash only and you only find this out after you have received the service?   In today’s marked over two-thirds of in-store payments are now made by card.  Tap and Go is very common .

In addition to making it easier for your customers to go through with their sale it can also benefit your business by:-

  • Reduce time in balancing your till
  • Your administration time is reduced;
  • More security than having a lot of cash on premises
  • Staff theft of cash is minimised

Consider investing in an electronic record keeping and payment system to save you time. It’s worth going online and reading reviews and also having a chat with your registered tax or BAS agent. See what they use and get something that’s compatible with your agent’s system to make it easier when sending files and information across to them.

 

Evaluate your business’ performance regularly to help you identify potential issues early on – it’s always better to correct problems sooner rather than later.

If you would like more information on Franchising do’s and dont’s visit:-

If you’d like more information on the work the ATO does, visit: www.ato.gov.au/protectinghonestbusiness

The growth in franchised businesses has been enormous .  Australia is the most franchised country worldwide, with nearly twice as many franchised businesses as America, and three times as many as the United Kingdom. Many banks in Australia will lend money to franchised businesses in preference to conventional businesses established by their owners.  The success rate of franchised businesses is significantly higher than that of businesses started from scratch: about 50% higher. There are many good reasons to get into franchising.

 

 

 

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