Peter Knight is A Straight-shooting Accountant Who has Established an Enviable Reputation as a Key Thought Leader in Accounting and Financial Education for the Franchise Sector, and In Particular for Franchise Owners.
Episode Timeline
- 0:00 – Intro
- 1:09 – Degree in Accounting & Psychology, preference for certainty in Accounting
- 2:25 – Choosing accounting career, big firm job & becoming a Chartered Accountant
- 3:30 – Young graduate experience in a big accounting firm & technical tax focus
- 4:45 – Moving into sales in software (early precursor to Xero & MYOB)
- 6:47 – Developing sales skills, winning awards & life experience
- 8:23 – Returning to accounting practice, managing small firm in Campbeltown
- 9:27 – Growth plan: expanding offices in Australia & NZ
- 10:58 – Becoming 25th largest accounting practice in Australia
- 12:31 – Keys to growth in scaling a large accounting business
- 13:13 – Transition to boutique model, fewer clients, part-time CFO role
- 14:48 – Peter’s famous father: Dr James Wright (Dr John Knight)
- 17:44 – Impact of his father on Peter’s life & career
- 18:36 – Moving focus toward franchising & sector support
- 21:00 – Helping franchise owners understand their numbers
- 21:29 – Franchise Accountants Network (FAN) & financial education initiatives
- 24:21 – Accountants who oppose franchising
- 25:28 – Writing his book: “37 Things I Wish I Knew Before I Bought a Franchise”
- 27:26 – Learning from LinkedIn engagement while writing
- 28:07 – Challenges in franchise financial education & solutions
- 29:58 – Lack of full financial picture in corporates & tax impact
- 30:53 – Financial education & franchisor responsibilities
- 31:45 – ATO’s strong pursuit of debt collection
- 33:23 – Message to franchisors: helping franchise partners succeed
- 34:36 – Wrap up
While many might look to focus on larger corporate clients such as brand head office type consulting, Peter has zeroed in especially on helping individual franchise owners to ensure they are making the right decision BEFORE they buy a franchise.
He came to this through a wide and varied career path.
Having a father who was a national figure, a TV personality, Doctor and renowned philanthropist, has given him key traits.
A double-major degree in Accounting and Psychology saw Peter magnetically drawn instead to the certainty of accounting and numbers.
Several years as a junior in a top firm, followed by a highly lucrative transition to sales in accounting software at the boom of personal computers, and the pre-cursor to MYOB SaaS software, Peter eventually found himself drawn back to professional accounting practice.
Within 12 years, the firm was rated the 25th largest in Australia by BRW, and with offices in New Zealand as well.
A desire to slow down the pace, and move back to a more boutique agency approach to accounting services, and away from the high volume client approach, saw Peter move to establishing a number of businesses and brands in accounting and financial support, primarily focused on the franchise sector.
The Franchise Accountant is where he lands right now…
