An achievement not to be Snoozed at
SRJ Walker Wayland congratulates Russell and Belinda Cooper, franchisees of Snooze Capalaba, who were recently awarded ‘Snooze Retailer of the Year’. This is the first time a new franchise has won this award in its first full year of trading!
Financial management and financial reporting were key components of the award criteria, with Russell sincerely appreciative of the support SRJ WW has provided to his business in these areas. “The most important partner any new franchise business can have is an active, involved and pro-active accountant. SRJ WW and John Riseley have been genuine strategic business partners in my franchises growth” said Russell.
Russell reflects on his first full year of trading. “I can’t emphasise the importance of financial due diligence coupled with the discipline to stop emotion from overriding reason” said Russell. John agrees that the assessment of financial viability is a critical aspect of purchasing a franchise. “When purchasers get too caught up in the excitement they leave financial success to chance. It is important to focus on the hard, cold financial facts and detach oneself from the emotional appeal of owning a franchise, prior to signing on the dotted line” says John.
With franchise systems now present in most Australian industries, any person wishing to purchase a franchise has more choice than ever before. Russell’s advice to prospective franchisees is “to seek out franchises that offer a point of difference, have a sound franchisor business plan and strong systems to support franchisees”.
John supports Russell’s sentiments but stresses that Russell’s success cannot solely be attributed to financial due diligence and selection of a good quality franchise. John believes Snooze Capalaba’s success also centres on Russell’s genuine interest in understanding his customers and providing outstanding customer service.