Cashflow It founder talks funding for franchisees
Former Boost Juice franchisee James Scurr understands the challenges of franchising and small business. When he added finance experience to his resume he was perfectly placed to launch a business geared to delivering franchise-appropriate funding.
Scurr founded the Cashflow It Group in 2014 and just four years on the group has been rewarded for its commitment to the sector with the Supplier of The Year Award in the MYOB FCA Excellence in Franchising awards 2019.
As the business develops, with sub-brands such as Franchise Finance Australia targeting specific markets, more staff will be joining the awarded 15-strong finance team.
In this podcast Scurr reflects on his experience as a franchisee, and how he would view the sector today as a brand new franchise buyer.
“Franchising is still a fantastic and exciting business model. There’s lots of new franchises that are still starting in Australia, and there are some amazing businesses. If anything there is more opportunity now for people looking to get into franchising, there’s potentially a little bit of less competition with other franchise buyers around.
“It’s hard to be completely unbiased because I have had that experience in franchising and I know it can be very rewarding.”
Cashflow It founder on challenges and growth
Scurr reveals the group’s business blueprint.
“One of the key strategies is the accreditation model that we offer. We’ve got 60 odd franchise systems in Australia that are accredited with us.”
He also addresses the challenges of working within two highly regulated industries, both in the public spotlight over the past two years, and how he tackles the challenges head on.
In this podcast Scurr reveals:
- the key to a collaborative culture in the Cashflow It team
- how he achieves a strong leadership role with business partner Dan Toms
- the role that technology has to play in today’s business landscape, for example the recently launched Open Banking.