Frequently Asked Questions
What qualities do franchisees need to possess?
While we provide the professional training, business, technical and marketing support, as well as the systems to get you going, the most important qualities you should have are motivation, a positive can-do attitude and eagerness to learn.
What qualifications do you need to become a First Class Accounts franchisee?
You do not need to have any formal qualifications to become a First Class Accounts franchisee. We train all our franchisees to a level where they have the ability to obtain the Certificate IV in Accounting & Bookkeeping and BAS Agent registration. Some experience in administration and accounts, aptitude for numbers, and computer literacy is naturally advantageous.
What is the target market for our services?
The target market for First Class Accounts franchisees is small to medium businesses. Small being defined as 1-15 people and medium as 16-50 employees. Regardless of size, they all need to meet their GST and BAS requirements, administer their payroll, manage their banking and cash flow, pay their suppliers, collect their receivables, and monitor their business performance.
Who are the main competitors to First Class Accounts?
First Class Accounts is Australia’s largest bookkeeping franchise currently with over 180 bookkeepers – and growing. Our competitors are the few other smaller franchise or pooled bookkeeping service providers and freelance bookkeepers, who may not have the benefit of the ongoing training and support structure, and national marketing program that our system provides.
What will your competitive advantage be?
As a member of the First Class accounts network, you have considerable competitive advantage. Our training methods and systems equip you to provide your clients with a unique service and outstanding value from their business relationship with you.
You will be working under the banner of the leading national bookkeeping franchise.
You will enjoy the benefit of the national and local area marketing support, with a variety of templates for marketing collateral available to you.
You have access to proven business system and leading edge tools, including professional partner status with MYOB, Xero, Reckon and Intuit software programs.
You will belong to a group of like-minded, mutually supportive colleagues, who foster a strong spirit of camaraderie. Our network utilises online platforms in order to interact and provide support.
You will have the resources of our help line, forum, portal and website at your disposal. Our portal is a resource centre for franchisees to draw upon technical information, manuals, business process checklists, templates and any other important content.
What services will you be able to offer to your clients?
You will enable your clients to spend less time on their books and more time on their business! As a First Class Accounts franchisee, you’ll provide your clients with a valuable range of bookkeeping related products and business services. These services assist business owners with record keeping, BAS returns and filings, plus informative, timely reporting, enabling owners to spend less time on their books and more time developing their business. Some of these products and services include:
- Financial reporting and analysis
- Payroll services
- Preparation of BAS
- Cash flow reporting and analysis
- Receivables management
- Bank reconciliations
- Year-end processes
- General accounting, bookkeeping compliance work and office management systems
- Training and support in MYOB, Reckon and Xero software