Financially stressed franchisees, suppliers and customers can make life difficult for franchisors, but an upcoming workshop in Sydney aims to equip the franchising industry’s investors with the tools to better manage their money troubles.
Strategies to Address Financial Stress in Franchise Businesses is a complimentary workshop held on 10 August and comprising an expert panel of industry figures such as Jason Gherke from the Franchise Advisory Centre, Kate Groom from Starfish Consulting, Peter Knight from the Franchise Council of Australia and Robynne Jemmott from ANZ Bank.
It aims to help franchisors minimise the impact of today’s turbulent financial times, addressing key topics such as:
- Insolvency overview and directors’ responsibilities
- How to identify early warning signs of financial stress
- Communicating with franchisees, banks, employees and management
- Practical strategies to assist franchisees in financial difficulty
- Understanding administration, receiverships and liquidation and how to best deal with insolvency
- practitioners
- Creating a financially sustainable franchise model
Managing directors, CEOs, general managers, CFO/accountants, senior field mangers and advisers are recommended to attend the complimentary, interactive workshop, but according to Kate Groom, the workshop will also benefit franchisors and even franchisees.
“It’s a good idea for franchisor team members to be able to identify and have a way of working with businesses that have financial struggles. This helps the strength of the network and can be a source of comfort to prospective franchisees, who want to gain assurance of support when it’s most needed,” she said.
“This free round table event is designed to help franchisors gain confidence in dealing with franchisees who have financial stress so that they have the best chance of succeeding in the case thay they do encounter hard times.”
Enquiries can be sent to Kate Groom at kate.groom@starfishconsulting.com.au
Registration is essential as places are limited. Register online at franchisefinancialstress.eventbrite.