MORE FINANCIAL EXPERTISE
for franchisors and large franchisees

Franchise New Zealand has been the best source of information for franchise buyers in this country since 1992. For twenty years, the magazine has been sponsored by – and distributed in branches of – Westpac Bank. Now Westpac has been joined by Grant Thornton New Zealand as co-sponsor.

‘In recent years, franchising has become increasingly big business in this country,’ says Simon Lord, publisher of Franchise New Zealand. ‘We have seen small local franchisors grow into listed companies and expand overseas, an influx of big names from the US and Australia, and the development of specialist groups operating multiple franchise brands. More recently, there’s been a lot of consolidation in certain sectors, and we’re also seeing the development of significant businesses by multi-unit franchisees – especially in the food market. We thought it would be good to reflect this change by increasing the accounting expertise at the corporate level available to our readers and clients. Joining forces with Grant Thornton as well as Westpac allows us to do that while also helping big business become even more aware of the possibilities that franchising offers.’

Expertise & Passion For Franchising

Pam Newlove, National Director, Privately Held Business for Grant Thornton says, ‘Franchising is a niche area of business but a particularly effective and expanding one. Banks, particularly Westpac, have entire teams dedicated to servicing the franchise market and are well known for it, but our own contribution to the success of many franchise companies is perhaps less well-known. When we got the opportunity to partner with Franchise New Zealand and Westpac, it was clear to us that this was an opportunity too good to miss.

‘As one of New Zealand's leading accounting, tax and business advisory firms and an independent member firm of Grant Thornton International, we have both the expertise and the business passion to offer the franchise sector something unique.

‘Grant Thornton partners across the country have worked with some major franchise names over the years including Muffin Break, Burger Fuel, Columbus Coffee, Bakers Delight, Esquires and Cookie Time, to name but a few.  Our experience within the franchise sector  includes directorships at board level, strategic and appropriate legal and tax structure planning, obtaining funding, mergers and acquisition, cashflow forecasts, advice on establishing franchises, operational, compliance, reporting and more.

‘With the majority of New Zealand and overseas businesses being owner-managed, we have dedicated our resources to providing accounting and business advisory services to these businesses in New Zealand.  The 2010 report on the franchise sector prepared by Massey and Griffith Universities highlights that the sector is continuing to expand even through the last couple of years, and already represents 5% of all SME’s in New Zealand – of which there are approximately 477,000 entities. Grant Thornton already has a proud history of servicing the needs of privately-held businesses both in New Zealand and around the world and we look forward to enhancing that reputation within the franchise sector specifically over the coming years.’

Working Together

Daniel Cloete, national franchise manager of Westpac, is enthusiastic about Grant Thornton becoming co-sponsors. ‘Westpac’s franchise division has worked closely with Grant Thornton on a number of projects within the franchise sector and we look forward to seeing their particular expertise utilised by the increasing number of large franchise organisations in this country. To have such a major firm committing itself to the franchise sector speaks volumes for the potential of franchising in this country. This is not about helping individual franchise buyers, who have local advisors to assist them – this is about corporate franchisors and big multi-unit franchisees being able to call upon some highly-regarded specialists who have really made an effort to understand how franchises can and should operate.

‘Westpac is the market leader in the franchise finance sector and our work with Franchise New Zealand magazine & website over the past 20 years has played a significant part in that positioning. We have just renewed our own sponsorship and look forward to joining with Grant Thornton and Franchise New Zealand to promote franchising even more strongly in the future.’

20 Years’ Service

The new partnership will see Grant Thornton becoming a familiar name to readers of Franchise New Zealand magazine, visitors to the website and subscribers to Franchise NewZ, the regular email newsletter. ‘Franchise New Zealand delivers its message via all sorts of media, but it was the record of 20 years’ professional service to the franchise sector and the organisation’s first-class reputation that decided us,’ says Pam Newlove. ‘The synergies are all there − our existing relationship with Westpac; our countless clients among franchisors and franchisees; and our position as a market leader in the privately-held business market.

‘We look forward to working with Franchise New Zealand and Westpac to bring to both franchisors and franchisees, information, expertise and opportunities to share experiences and grow their businesses.’