Xero & Franchising
Xero is an online accounting system. Powerful, but easy to use, Xero allows you to add those important back office processes to your franchise offering and gives you visibility of what is happening in your franchise network. Xero provides the communication platform to share knowledge of the numbers.
Smart franchises are using Xero.
Smart franchisees are demanding Xero.
Franchising is all about leveraging successful business processes. People buy franchises to quickly own a business – especially one that is established and proven to make money. As a franchisor, the more you can standardise, the more attractive and successful your franchise will be.
Many franchises have great systems for their specialty, yet when it comes to accounting, each franchisee is off on their own. This was because accounting was too hard and disconnected.
That was before Xero.
Xero for the franchisor
As the franchisor, no one knows your business better than you. With Xero, you can ensure both you and your franchisees are successful.
Real time visibility
Because Xero is online you can easily review your franchisee’s numbers anywhere and anytime. No more waiting or having to ask for the latest financials.
Coaching
With Xero, you have ready-to-go processes and information that’s so easy to use. Adding management support to franchisees helps you and your franchisee be successful.
Standardisation
Set up standard reports, expense and income categories and provide standard financial operating procedures for each franchisee. Easily benchmark across your franchises.
Create value
Using Xero as your platform and through outsourcing, you can earn revenue from supplying additional accounting and bookkeeping services to your franchisees.
Integration
Because Xero is an open accounting engine it is easy for your other software solutions to integrate – creating even more value.
Xero for the franchisee
You have bought or want to buy a business to make money right? Not to spend your time making sense of the books. So when selecting a franchise, it is important to consider if an accounting system is included. Xero can save you time and money.
Collaborate with your franchisor
Having a standard accounting system that is online and supported by your head office, means they can collaborate with you and coach you to success.
One common system
Using the same system means there are higher levels of standardisation and valuable benchmarking information.
Share financials at anytime
You can share your financials at anytime. Your advisor can log in from anywhere and cost effectively help you.
"The easier a franchisee can see their cashflow position, the more successful they will be. And that is what is important to us as a franchisor too."
Chris Johnson, Red Hot Camera CTO
Read their story"It looks really impressive. Some of the reports that you can access are fantastic, the sort of thing that is invaluable to help run a profitable business."
Paul Wright, Paw Pals Franchisee
"My accounting is now much easier. As a franchisee, I'm always on the lookout for new stores, it's nice to know that my accounting is always up-to-date and straight forward."
Terry McDonnell, Subway franchise
Read their story