So, I’m sitting in front of a business owner who has the perfect business model for a café. I know, there are thousands of café and franchise cafes in our city, but I felt that what he had was truly unique.
He and his partner had arrived at their new business model through trial and error – the error part being about $300,000 in loans they now had.
But With their accounts being a mess and with the confusion regarding what might also be a tax debt he felt he needed direction and to find a solution to the financial mess.
OK – there are a couple of years of accounts to clean up, and these will add to the tax debt, especially with GST (I think there will be a tax loss) and some PAYG. We will get this cleaned up.
The real solution is the Precis accounting system. Our client doesn’t need to do anything to have their accounts completed because they are all completed using the Precis system. Due to the fact that the system works so efficiently, he will have a plan every week for catching up with tax, paying down the loans and taking a decent salary.
For this client the solution and direction came with an accounting service (Precis) that took none of his or his partners time, kept the ATO debts in check and continually reduced, got the debt paid off and created a plan to make the profit work better for them.
Stay posted – we think this business will be the next franchise in this industry.
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