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Coco Cubano serves up franchise revolution

Coco Cubano’s ‘El Presidente’ Tony Melhem knows there’s more to running one of the hottest cafe/bar franchises in Australia than serving up great mojitos, food and music. As Deputy Chairman of the Franchise Council of Australia and having been involved in franchises for over 10 years, he’s well aware of the special challenges faced by franchises in respect to accounting. So when it came to Coco Cubano, he called in his long time financial advisor, Craig Pisani of BDO  who recommended Xero.

Xero helps him replicate the back end of Coco Cubano franchises. By having all his franchisees use Xero, he knows that data is clean, he can easily compare franchise performance and he can deal with any issues immediately and before they become a problem.

We recently caught up with Tony and Craig. Have a look at the video to see how they work together to create a winning franchise formula:

If you’re a franchisor, get in touch with us to replicate Tony’s experience across your franchise. Or leave a comment with your thoughts.

 

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5 comments

Steven
5 October 2012 #

Curious as to what POS program you are using and Inventory program.

Daniel Walls
5 October 2012 #

Great work Tony & Craig.

We’re working with another group where the story is similar – massive timesavings with Xero, easy collaboration between CFO and business coaches and franchise owners (everyone looking at the same ledger), and standardised accounting allowing comparison across the group.

Comparative reporting and benchmarking is then straightforward and they use Fathom to compare accurate figures on a monthly basis and it only takes minutes to prepare.

Any franchisors visiting the FCA National Franchise Convention in Canberra next week should come and visit the Xero/Fathom stand.

http://wired.ivvy.com/event/3LGCZZ/

Gillian Rossouw
6 October 2012 #

Love hearing these success stories, super wow video and background music. Congrats to you both Tony & Craig

Franchise Opportunities UK
12 October 2012 #

Hi Tony & Craig…

For running your franchise successfully everyone have to work together…without a team work or alone no one get success…Thanks for sharing such a nice experience.

Jon Bennett
27 October 2012 #

Well done team
We have been using Xero for around six months, our plumbers and even our apprentice are finding it very userfriendly.
Good Luck
Drip Doctor Australia

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