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Business Risk Services
Our Business Risk Services team deliver practical and pragmatic solutions that support clients in growing and protecting the inherent value of their businesses.
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Corporate Finance and Deal Advisory
We offer a dedicated team of experienced individuals with a focus on successfully executing transactions for corporates and financial institutions. We offer an integrated approach, with our corporate finance specialists working seamlessly with tax and other specialists to ensure that every angle is covered.
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Economic Advisory
Our all-island Economics Advisory team combines expertise in economics and business with a wealth of experience across the public and private sectors.
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Forensic Accounting
We have a different way of doing business by delivering real insight through a combination of technical rigour, commercial experience and intuitive judgment. We take pride in delivering responsive and tailored solutions to all our clients, capitalising on the wealth of experience housed within our Belfast and wider Forensics team
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People and Change Consulting
The Grant Thornton People & Change Consulting practice works with clients on these issues as well as on all aspects of how they attract, retain, engage develop, deploy and lead their people.
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Restructuring
We work with a wide variety of clients and stakeholders such as high street banks, private equity funds, directors, government agencies and creditors to implement solutions which provide the best possible outcomes.
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Technology Consulting
Motivating and assisting our clients to pursue, maintain and secure the benefits of digital solutions is at the core of our Digital Transformation teams' agenda and goals. We work with business leaders to deliver efficient digital strategies and operating models that provide new or enhanced capabilities.
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Corporate and International Tax
Northern Ireland businesses face further challenges as they operate in the only part of the UK that has a land border with a country offering a lower tax rate.
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Employer Solutions
Our team specialises in remuneration and incentive planning and works closely with employers, shareholders and employees to ensure that business strategies are aligned and goals achieved in the most tax efficient, cost-effective manner.
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Entrepreneur and Private Client Taxes
Our team of experienced advisors are on hand to guide you through any decision or transaction ranging from the establishment of new business ventures, to realising value on exit, to succession planning and providing for loved ones.
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Global Mobility Services
Grant Thornton Ireland offer a different approach to managing global mobility. We have brought together specialists from our tax, global payroll, people and change and financial accounting teams across Ireland and Northern Ireland, while drawing on the knowledge and insights of our global network of over 143 offices of mobility professionals to provide you with a holistic approach to managing global mobility.
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Outsourced Payroll
Our outsourced service provides valued service to over 150 separate PAYE schemes. These ranging from 1 to 1000 employees, working for micro, SME and global employers. The service is supported by the integrated network of tax and global mobility teams and the wider Grant Thornton network delivering a seamless service. Experienced staff deliver a personal service built around your business needs.
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Tax Disputes and Investigations
Our Tax Disputes and Investigation team is made up of tax experts and former HMRC investigators who have years of experience in dealing with a variety of tax investigations. Our expertise and insight can guide you through all interactions, keeping your cost at a minimum while allowing you to continue with the day to day running of your business.
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VAT and Indirect Taxes
At Grant Thornton (NI) LLP, our team helps Northern Ireland businesses manage their UK and global indirect tax risks which, as transactional taxes, can quickly become big liabilities.
All businesses, irrespective of industry and sector, aspire to grow in size, become more profitable and develop a strong brand in their marketplace.
However, turning that aspiration into reality can be challenging through organic growth alone, and a significant number of entrepreneurs are considering the franchising model as a cost effective way to achieve their growth plans.
Although potentially cost effective franchising is not necessarily an easier option. Whilst it may seem obvious, a full understanding of the franchising model is critical to ensure a successful, sustainable franchise is created.
The franchisor needs to carefully assess all the advantages and disadvantages, the level of management input required, and the proposed timing of investment returns. Only then should the decision to become a franchisor (or not as the case may be) be undertaken.
Clearly not all businesses are suitable for franchising. Those that are successful tend to demonstrate four traits that form the solid foundations for a successful franchised network.
First of all, the business model should have a track record of success and profitability – profitable to both the franchisor and franchisee. The business must have a distinctive brand and image - after all it must be attractive to the franchisee. It has to be easily replicated - specialised or niche businesses will have a limited target market. Also necessary is an ethos built on collaborative working relationships – relationships built on mutual trust, respect and support, working towards a common goal will deliver better results.
As noted, franchising offers the franchisor a number of advantages, and these need to be carefully considered and balanced against the disadvantages to allow an informed decision to be made.
Among the advantages of the model is scalability. The ability to scale the business rapidly and geographically, is key and it brings other advantages such as collective buying power that will deliver better purchasing deals throughout the network.
Critically strong franchise models also attract motivated individuals with a vested interest in the success of the business and consequently, developing the brand. As such they require less supervision and if quality training and support resources are available franchisees will require less direct time input from the franchisor. The franchisees will tend to undertake their own site research and fund the necessary investment to acquire premises and staff, which can make expansion much more cost effective.
Failure to develop the appropriate franchise model will however cause challenges for a prospective franchisor. Compared to organic growth, a franchise arrangement may be less profitable as the bulk of profits will inevitably fall to the franchisee. The franchisor may lose a degree of control, as innovative and future decisions may require negotiations with franchisees who may be resistant to change.
Also, if the franchisee recruitment process is not robust, the franchisor risks brand contamination, as non-performing and/or non-compliant franchisee presents a reputational risk. The cost of management time and lost return from unsuccessful franchisees can be significant.
Franchising a business is evidently not an easy option to growth; it brings with it specific challenges and obstacles to be overcome, but managed in the right way, it can provide a solid foundation for growth and expansion in which both franchisor and franchisees are winners.