Specialist Accountants for Franchise

Why choose a specialist franchise accountant?

Whether you are a franchisee or franchisor your needs will be met with our extensive support available at Morris & Co and you can be assured of a rapid response. We’re proud to be an Affiliated Professional Advisor of the British Franchise Association (BFA), so we understand the industry.

We believe that it is important to provide continuity of the people who you deal and we believe that the Morris & Co Franchise accounting team will provide this.

You can have confidence in our ability because our reputation is good not only with our existing clients but also with the commercial community and we have earned the respect of HM Revenue & Customs. We have extensive experience in saving franchisees tax and can offer you a full tax planning service.

You require a firm with experience and expertise that meets your needs. We believe Morris & Co will meet your needs and help you to save tax and maximize profits.

Supporting franchisees and franchisors

Accounting for Franchisees

Our experience as specialist franchise accountants enables us to provide franchise services with a balanced mix of technical and commercial advice, whilst at the same time making us aware of the issues applicable to this field.

Accounting for Franchisors

As specialist franchise accountants, we can take away the responsibility for advising and training franchisees in financial reporting, leaving the franchisor free to concentrate on developing the business, and can help franchisees in setting up a successful franchise.

Franchising your business

As BFA affiliated franchise accountants Morris & Co can help you determine whether or not your business is suitable for franchising and provide help and advice.

We can also put you in touch with other specialist franchise advisors who can help you develop the legal and operational frameworks that you will need.

A franchised business needs strong financial control to ensure measured and sustainable growth. The peculiar taxation treatment of franchises and “goodwill” relating to them needs to be always borne in mind.

As BFA Affiliated accountants, Morris & Co can help you through these potential problems. Franchising your business enables you to expand using other peoples capital and achieve faster growth. You will also be harnessing the enthusiasm and motivation of the owners/managers driving the business.

Our franchise accountancy services

Our Franchise Team

Our team of specialist franchise accountants have a wealth of accounting and commercial experience with over twenty years experience in the franchise sector.

The team is headed by Desirie Lea, who, since qualifying as a chartered accountant, has specialised in acting on behalf of franchisees and manages a large portfolio of franchise clients across the UK. As a Qualified Franchise Practitioner, you can be sure that your franchise business accounts are in safe hands with Desirie and her team.

Setting Up A Successful Franchise With A BFA Approved Accountant

The first step you must take before investigating franchising is to establish exactly what level of investment you can comfortably afford to make. Don't forget that as well as the initial franchise costs, there may well be other setting up costs and you will need some working capital until the business is running profitability which may take a year or more. Remember, it is better start out with more than you need rather than less.
Far too many people forget to assess their own suitability to the business and this mistake can lead to years of unhappiness, not just for you, but for your whole family. You need to determine whether the franchise suits you, what are your needs, your wants and also what are the needs and wants of your family.
You must consider the market and avoid industries that are 'fad industries'. This needs careful consideration and also needs to be linked to your own abilities and what you would be happy doing.
Advice will come in three forms:
- Legal - BFA approved solicitors
- Financial - BFA approved accountants
- Commercial - from other franchisees, the franchisor, the British Franchise Association and other bodies.
Buying a franchise can involve a lot of emotion, as it is most probably a life changing decision. It often helps to get outside assistance at this stage from someone who is not emotionally involved in the research that you have already made.
After carrying out the stages mentioned above, your decision to join a franchise should be relatively easy, but if you don't feel 100% comfortable with the decision, start the process over again. It is also a good idea to check if the franchise is registered with the British Franchise Association (BFA).
Entrepreneurs looking to invest in a franchise business can be sure of two things. Lenders will want to see strong business plans and will be prepared to lend up to 70% of the initial start up costs. Again, seek professional assistance with your business plan to make sure that the business has a realistic chance of viability. With our wealth of experience in advising franchisees we can help you to set up a Business Plan ready to obtain funding for your Franchise.
When you have successfully negotiated all the above , the difficult part is making your business work. You must regularly compare your achievements with your business plan and adjust your business methods or the plan, so that you know where you are going, how you are going to achieve it and when.
A franchise business has considerably more chance of achieving success that any other business starting from scratch. We hope that having followed all the above processes, you have invested in a successful and profitable business, but again, you need to seek professional advice, to ensure that you are not paying too much money to the tax man!

What our clients say about us

Stagecoach preferred suppliers

If you are looking for a team of reliable, approachable and proactive accountants who really understand Stagecoach, then you have come to the right place. The team at Morris and Co have recently been appointed as Stagecoach preferred suppliers and offer a service that aims to do more than just responding to your needs. The team's ambition is to work alongside you, giving you advice and guidance to help you succeed.

Stagecoach Theatre Schools

Professional and thorough

At first I was somewhat reluctant….I have been able to establish a mutual trust and experienced a professional and thorough service

Kevin Morrissey, Sheffield

Very professional

Morris & Co have been supporting my business with payroll, pensions & accountancy for 7 years and everyone we've ever dealt with has been very professional and incredibly helpful. I wasted a year using a local accountant and I heartily regret it. Moco are extremely quick to respond to all queries, and they don't even mind the really stupid ones I ask them from time to time! I don't expect my accountant to reply to my emails at 9pm, but Moco often do.

M Martin

Continued Relationship

We first approached Morris & Co as a result of meeting their representatives at a DHGS Conference. We had not experienced any significant problems with the firm that we were using, but did recognise that an accountancy firm that specialised in dealing with Franchisees and therefore, understood their specific needs should be of greater benefit to us. Although there is significant distance between our office in Worcester and the Wirral, this has not presented any problems. We look forward to a continued relationship with Morris & Co.

P Turner, Worcester & Hereford

Contact Details
Email

mail@moco.co.uk

Telephone

0151 348 8400

Address

Chester House, Lloyd Drive,
Cheshire Oaks Business Park,
Ellesmere Port, Cheshire,
CH65 9HQ

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