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Running a franchise comes with plenty of advantages. You get access to a proven business model and brand that already has some market recognition. Typically, you’ll receive detailed advice on the setup, training, planning and operations of the business. You’ll probably also get performance indicator guides to make life easier. But it’s not without its challenges either.
It’s hard to ignore the upfront fees, startup costs and payroll costs that are part and parcel of running a franchise. There’s an initial fee to join as well as ongoing costs. Staff requirements can just add to the human resources and payroll costs as well. On top of this, you’ll have sales targets to meet and head franchisor reporting. It may seem daunting if you’re on your own but Hospo Books can help.
Hospo Books has worked extensively with a range of restaurant franchises. We’ve seen firsthand the inner workings of a franchise and understand just how hard it is to make a franchise successful. We’ll help you implement plans to manage expenses, manage payroll and employees, deal with cashflow struggles, benchmark your performance and measure your KPIs.
We also offer a comprehensive bookkeeping service which includes payables and receivables, payroll processing, superannuation and tax compliance, reconciliations, BAS and IAS, reporting and budgeting and more.
Our Melbourne based team have seen the inner workings of many businesses in the hospitality industry. This firsthand insight and practical experience gives us the expertise to help you streamline your business. Hospo Books can help you improve your processes and save time along the way. We’ll make sure you’re using the most suitable software for your business as well.
We’re here to help your restaurant franchise grow. We believe that your business is a vehicle for your success, helping you reach your personal and financial goals. But business owners need an advisor who will help them get there. Jo and the team at Hospo Books are dedicated to seeing small businesses succeed.