At the recent MYOB FCA Excellence in Franchising Awards on the Gold Coast, Cashflow It Group has been named Supplier of the Year. This win solidifies the alternative lenders’ position within the franchising industry, reinforcing the importance of flexible funding solutions to Australia’s franchise networks.
Though the company was only founded in 2014, powerhouse duo James Scurr and Dan Toms have worked hard to get the word out.
When accepting the award, Scurr said “Sometimes the best action is to get stuck into it… We started the business in 2014 and recently we just surpassed $100m funding into the franchise sector.”
Scurr, Managing Director, found his beginnings as a Boost Juice multi-unit franchisee, going on to own various small businesses, and this was a major catalyst for Cashflow It Group’s beginnings in the sector.
“That’s why I started the business in the franchise space because I knew it well and felt I had a good understand of what they were looking for… I know exactly what franchisees go through with their businesses.”
Scurr & Toms have strived to build their team with staff who have backgrounds from both sides of franchising and regularly engage with industry bodies such as the Franchise Council of Australia to ensure they remain at the forefront of emerging trends in the sector.
Toms acknowledged the role the franchise industry has played in the growth of Cashflow It Group, going on to say “Thank you to the franchise community who have supported us on our journey.” The company has long praised its relationships with franchisors and their willingness to adopt and embrace alternative finance options.
Recently, Cashflow It Group diversified their portfolio, opening specialised divisions in Franchise, Fitness, Accommodation and Pharmacy. This move aims to allow the organisation to better service each of the unique industries they work with and provide dedicated products that are relevant to the business owners in those sectors.
However, there is no doubt that the pair wish to continue working closely alongside Australia’s franchise community, stating “As a company, we have a passion for positive franchising and remain committed to supporting the franchise sector. Since the senate enquiry, we have forged ahead and increased the volume of funding to the franchise sector when other lenders have tightened their appetite. The tireless efforts of the entire Cashflow It Group team have allowed franchisees to grow their business without the barriers of traditional finance.”