Carlos Antonios, CEO of Chatime, underscores the pivotal role of accountants in supporting franchisees, particularly in navigating pre-trade expenses and end-of-lease refurbishments. As Chatime's global presence multiplied from its inception in Taiwan in 2003 to over 2000 stores worldwide, with 165 outlets flourishing in Australia, Antonios stresses the significance of adept financial management in handling initial expenditures and establishing a reserve for property enhancements upon lease expiration.
Chatime's ascent in the competitive landscape is attributed by Antonios to a confluence of factors, encompassing stringent brand disciplines, continual product innovation, meticulous franchisee selection criteria, a strategic emphasis on multi-unit franchising, and comprehensive scrutiny of performance metrics, including entry costs. Central to sustaining this momentum is the franchise agreement structure, comprising a 5-year term with provisions for a further extension, facilitating access for franchisees to a spectrum of support services spanning business development, marketing, IT, finance, leasing, supply chain, and project management.
Antonios identifies two key areas where accounting expertise could fortify franchisees' operational resilience: diligent management of pre-trade expenditures and prudent planning for end-of-lease refurbishments. For a comprehensive exploration of Chatime's triumphant trajectory and the indispensable role of accounting in its success, the full article featuring Carlos Antonios' insights can be accessed through the provided link. Moreover, Chatime's affiliation with Immerse 51+ within the FCA extends opportunities for further engagement and exploration of membership benefits, inviting interested parties to explore the spectrum of options available through the FCA Membership portal.
Read the full article read Carlos’ insights into Chatime's success factors.
https://intheblack.cpaaustralia.com.au/accounting/why-accountants-key-for-franchisees-amid-reforms
Chatime is also one of our members at the FCA, if you would like to learn more about our current membership options and what these include, you can browse through the FCA Membership options here.