Australian prospective franchisees should compare an accountant’s pre-purchase review scope, independence, written findings and fee terms. The Franchise Accountants advertises a fixed-fee pre-purchase financial review at A$1,295 plus GST; confirm the current fee and inclusions in a written quote.[4] Franchise Accounting & Tax and Gartly also advertise buyer-side work.[1][5] 
Ask for an adviser with franchising experience who can examine ongoing costs and supplier restrictions as well as the upfront price. Keep the financial engagement separate from legal review of the franchise agreement, and request a written conflict disclosure before appointment, because a provider describing its service as independent is not the same as disclosing referral or other relationships.
What the Franchising Code gives you before you sign
The Franchising Code of Conduct is set out in the Competition and Consumer (Industry Codes—Franchising) Regulations 2024.[7] Treasury says this Code applies to all franchise agreements entered into, renewed, extended or transferred on or after 1 April 2025.[8] It fixes the documents and timing an accountant’s review should work from:
- Information statement: after you formally apply or express interest, the franchisor must give you the ACCC’s franchising information statement within 7 days and before the other pre-contract documents.[7]
- Core documents: the franchisor must give you a copy of the franchise agreement in the form in which it is to be executed, the disclosure document and a copy of the Code, plus lease details where the franchisor or an associate will sublease premises to you.[7]
- No Key Facts Sheet: Treasury notes that franchisors are no longer required to create or provide a Key Facts Sheet, so the disclosure document is the main pre-contract file to review.[8]
- 14-day consideration period: the franchisor must not execute the agreement until 14 days after the latest of giving you those documents, giving you a materially changed agreement, or giving you earnings information.[7]
- Related agreements: other agreements such as leases, security agreements, guarantees, confidentiality agreements and restraints must be given at least 14 days before signing if they are available.[7]
- Independent advice statements: before entering a new franchise agreement, the franchisor must receive signed statements covering advice from an independent legal adviser, an independent business adviser and an independent accountant, or a statement that you know you need that advice and decided not to obtain it.[7]
- Cooling-off period: you may generally terminate a new franchise agreement within 14 days after entering into it, and the franchisor must then repay payments connected with the agreement within 14 days, less reasonable expenses allowed by the Code.[7] Treasury describes this as a mandatory 14-day cooling-off period that can be waived only by franchisees who have, or recently had, a substantially similar agreement with the same franchisor.[8] Separate 14-day rights apply where the franchisor or an associate provides the premises, and the general cooling-off right does not apply to renewals, extensions or some transfers.[7]
Give the accountant the disclosure document, any earnings information and the agreement early in the consideration period so the review can finish before you sign.
Compare six franchise accountants
Franchise Accounting & Tax
Review scope: Offers a pre-purchase review, structure advice, software setup, bookkeeping, BAS and tax services, monthly reporting, budgeting and post-purchase advice.[1]
Price and terms: Quote required; no fee, billing basis or cancellation policy is published.[1]
Eligibility or reach: Services address prospective buyers and existing operators.[1]
MKS Group
Review scope: Offers bookkeeping setup or takeover, supplier payments, receivables follow-up, bank reconciliation, payroll, tax compliance, monthly reporting, budgeting, cash-flow planning and coaching. Its page does not describe a defined pre-purchase financial review.[2]
Price and terms: Specialist services use a fixed monthly fee; the amount requires a quote.[2]
Eligibility or reach: MKS serves new and existing franchise owners across Australia.[2]
Coleman Financial Group
Review scope: Covers KPI benchmarking, margins, breakeven, cash flow, stock and cost of goods sold, staffing costs, loan and fit-out structuring, and exit preparation. Its page does not define a standalone buyer-review package.[3]
Price and terms: Quote required; no price or contract period is published.[3]
Eligibility or reach: Coleman serves start-ups through to multi-site operators across Australia using cloud systems and remote support. It is based in Umina on the Central Coast.[3]
The Franchise Accountants
Review scope: Examines franchisor projections, first-year costs and working capital, sales needed to cover costs and owner income, financing structures and financially material deal terms.[4]
Price and terms: Advertised fixed fee of A$1,295 plus GST for the Pre-Purchase Financial Review; confirm payment timing, turnaround and revision limits in the written quote.[4]
Eligibility or reach: The review is for prospective franchise buyers. Separate accounting and reporting services cover operating and multi-location franchisees.[4]
Gartly Advisory
Review scope: Offers financial due diligence, opportunity appraisal, cash-flow forecasts, finance-application support and structure advice. It also reviews lease and exit-payment obligations with a legal adviser.[5]
Price and terms: Quote required; no price or billing model is published.[5]
Eligibility or reach: Gartly targets first-time buyers, operators and sellers, and is marketed as a Melbourne service.[5]
Mizael Partners
Review scope: Offers franchisee and franchisor accounting, cash-flow and break-even analysis, software and POS integration, valuation, funding support, royalty and fee modelling, internal audits, growth planning and exit support. A standalone buyer review is not described.[6]
Price and terms: Advertises a free 30-minute initial consultation for new business clients, offered for a limited period; ongoing fees require a quote.[6]
Eligibility or reach: Mizael serves business, corporate and organisational clients but excludes individual tax returns. It lists offices in VIC, NSW, QLD, SA and WA, with enquiry options for NT, ACT and other locations.[6]
Which review covers the main purchase risks?
The Franchise Accountants publishes a specific buyer-review checklist. It covers projections, total first-year costs, fees, working capital, breakeven sales, owner income, financing and financially material deal terms.[4] Confirm whether its engagement also covers royalty increases, marketing levies, lease liabilities and exit payments.
- Gartly Advisory expressly offers due diligence, cash-flow forecasting and finance-application support, plus lease and exit-payment review with a legal adviser.[5]
- Franchise Accounting & Tax confirms a pre-purchase review but does not publish an itemised checklist.[1]
- Coleman Financial Group publishes relevant capabilities in margins, breakeven, cash flow, staffing, fit-out finance and exit planning; ask whether these are bundled into a pre-purchase review.[3]
- Mizael Partners offers cash-flow, break-even, royalty and fee modelling; ask which tests a buyer-side engagement would include.[6]
- MKS Group publishes bookkeeping, payroll, compliance, budgeting, cash-flow and reporting services rather than pre-purchase due diligence.[2]
Assume a test is excluded unless the written proposal lists it. The franchise-specific numbers the accountant tests come from the franchisor’s disclosure document and any earnings information, which the Code requires the franchisor to provide before signing.[7]
Pricing and engagement terms
Only The Franchise Accountants publishes a specific pre-purchase review price: A$1,295 plus GST.[4] MKS uses a fixed monthly fee without disclosing the amount.[2] Franchise Accounting & Tax, Coleman and Gartly require a quote for comparable work.[1][3][5]
Ask shortlisted providers to quote against the same scope and specify:
- whether GST is included;
- the documents, assumptions and scenarios to be reviewed;
- whether meetings, written findings and follow-up questions are included;
- revision limits and extra-work rates;
- turnaround time measured against your 14-day consideration period, and payment triggers; and
- whether ongoing accounting is optional.
Suitable scenarios (as described by the providers)
- Buyer seeking a defined review and published price: The Franchise Accountants describes a review covering projections, first-year costs, breakeven, owner income, financing and deal terms for A$1,295 plus GST.[4]
- Buyer focused on finance, lease or exit obligations: Gartly describes due diligence and cash-flow forecasting with finance-application support and review of lease and exit payments alongside a legal adviser.[5]
- Buyer wanting ongoing accounting: Franchise Accounting & Tax describes pre-purchase assessment alongside software setup, bookkeeping, BAS, tax, budgeting and monthly reporting.[1]
- Operator outsourcing transactional accounting: MKS describes payables, receivables, payroll, bank reconciliation and compliance under a fixed monthly-fee model.[2]
- Performance-focused or multi-site operator: Coleman describes KPI, margin, breakeven and operating-cost analysis, while The Franchise Accountants describes multi-location reporting.[3][4]
- Owner preparing to sell: Coleman describes exit and sale-planning support; Gartly describes sale preparation coordinated with the owner’s solicitor, broker and franchisor.[3][5]
- Franchisor: Mizael describes royalty and fee modelling, internal audits, funding and expansion support.[6]
Check independence and evidence
Ask each provider to disclose relationships with the franchisor, broker, lender, lawyer, mentor or sales adviser, including referral fees and incentives to win ongoing accounting work. The Code requires a signed statement about advice from an independent accountant, so the person you appoint should be able to confirm that independence in writing.[7]
Confirm who will perform and approve the review, their qualifications and whether specialist work will be delegated.
Weigh the published performance evidence carefully:
- Franchise Accounting & Tax and Gartly publish client recommendations; these are testimonials rather than measured outcomes.[1][5]
- MKS says it is a member of the Franchise Council of Australia and that its accountants are in the top 2% of Xero Partners in Australia, without publishing the basis for that ranking.[2]
- Mizael reports client-volume figures and a Google rating without a measurement date or review count.[6]
A de-identified sample report can help show whether the provider records assumptions, tests alternative scenarios, flags missing information and distinguishes franchisor-supplied material from its own analysis.
Put the scope in writing
- Financial tests: Specify whether the review covers projections, first-year costs, working capital, breakeven sales, owner income, royalties, marketing levies and finance structure. Require exclusions to be listed.[3][4][5][6]
- Contractual payments: Record whether lease, renewal and exit obligations are included and when separate legal input will be needed. Gartly expressly describes working with a legal adviser on lease and exit payments.[5]
- Fees: State the total price, GST treatment, billing triggers, included meetings, revision limits and extra-work rates.
- Delivery: Record the required documents, start date, turnaround, named reviewer, report format and included scenarios, and fix a delivery date inside the consideration period.[7]
- Exit terms: Obtain cancellation, rescheduling and refund conditions for the accounting engagement in writing; none of the provider pages publishes a complete policy.[1][2][3][4][5][6]
References
- Franchise Accounting and Tax (franchiseaccountingandtax.com.au)
- Franchise Accountants Melbourne | MKS Group (mksgroup.com.au)
- Franchise Accountant | Coleman Financial Group (colemanfinancialgroup.com.au)
- The Franchise Accountants (thefranchiseaccountant.com.au)
- Franchise Accountant Melbourne | Gartly Advisory (gartlyadvisory.com.au)
- Franchise Accounting Services – Mizael Partners (mizaelpartners.com.au)
- Competition and Consumer (Industry Codes—Franchising) Regulations 2024 (Franchising Code of Conduct) (legislation.gov.au)
- New Franchising Code of Conduct – Table of key changes (Treasury) (treasury.gov.au)
