Home Accounting Software Intuit Australia wants to help foster prospering franchises

Intuit Australia wants to help foster prospering franchises

With 470,000 Aussies employed in franchises, Intuit's "global Franchise Program" seeks to help Australian small businesses succeed" while helping Intuit "become the market leader in the next five years".

Intuit is launching its global Franchise Program in Australia "to help franchise businesses get set up for success and to bolster growth of the nation’s local small business sector".

The Franchise Program was launched in 2008, and since that time, Intuit's program has grown to "partner with 500 franchise brands that have more than 90,000 franchisees globally who use QuickBooks as their accounting software."

Thus, Intuit is bringing these global learnings and its franchise expertise to help Australian small businesses succeed, especially given there are currently 470,000 Australians employed in business format franchises.

So, we're told by Intuit that, after a strong fiscal 2017 which saw the company grow 89% and surpass 100,000 subscribers, "the Franchise Program will help further expand the company’s presence in Australia and reach its goal of becoming market leader in the next five years".

What is growth in the Australian franchise sector like?

Intuit reports that Australia has more franchising outlets per capita (PDF link) than any country in the world and three times more franchising outlets per capita than the US.

We're also told that Australia’s franchise sector is "large and mature", and contributes 9% of Australia’s GDP with sales turnover for the sector estimated at $146 billion. 

Yet, despite this growth, it turns out that "many franchisors still operate inefficiently by using desktop software and working with different software platforms to their franchisees".

Thus, with Intuit’s 10 years’ experience of working with franchisees globally, the company says it will share its expertise "to help franchisors standardise their franchisees’ businesses by using QuickBooks, and also to ensure they have the accounting tools needed to be successful".

Naturally, the company proudly boasts that "by using cloud accounting software like QuickBooks, franchisors will be able to identify where and when franchisees may need support before significant business problems arise".

So, what does Intuit's vice-president and country manager for Australia, Nicolette Maury, have to say?

Sharing an Australian perspective Maury said: "I am delighted to announce that Intuit will launch the Franchise Program in Australia to ensure local customers are set up for success. We’re the third market to introduce the Program.

“With a 10-year track record in working with more than 500 franchises globally, Intuit is leveraging its international resources and innovation to help Australia’s 2.7 million small businesses and 79,000 franchises prosper.

“Many franchisors are still using traditional accounting software to manage their franchisees, or software platforms incompatible with their franchisees. We know this results in hours of wasted time and inefficient compliance management.

“The program was launched in Canada late last year where, to date, more than 40 new franchisors have become Intuit Franchise Program partners. We hope to see similar results in Australia in the coming months,” Maury added.

Here's Maury's comment on Intuit's global perspective:

“We have more than 500 franchise brands around the world that use QuickBooks as their accounting software. As a result, these franchisors are witnessing greater adoption by and retention of their franchisees.

“We know franchisors in the US are thrilled to be partnering with Intuit’s Franchise Program. By providing dedicated support from account managers who have deep industry knowledge, franchisors are able to get their franchisees up to speed quickly, enabling them to provide the correct financial information back to the franchisors.

“Franchisors in the US are standardising their franchisees’ business on QuickBooks to ensure they all have the accounting tools required to be successful.

“We share the same vision for the franchise sector in Australia because while the industry is growing, there is plenty of room for improvement especially around efficiencies and the way franchisors and franchisees engage with one another and share vital financial information.

“We aim to improve efficiencies in this sector, making life easier for franchisors and, in the process, help franchise owners set up the right foundations for long-term success and educate them about technology to help them prosper."

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Alex Zaharov-Reutt

One of Australia’s best-known technology journalists and consumer tech experts, Alex has appeared in his capacity as technology expert on all of Australia’s free-to-air and pay TV networks on all the major news and current affairs programs, on commercial and public radio, and technology, lifestyle and reality TV shows. Visit Alex at Twitter here.