Lloyd Richardson took over Jim's Bookkeeping in 2018 with around 20 franchisees. Seven years later, the division has more than 67 franchisees, 9 regional franchisors, and just became the first division in the network to earn the 50-franchisee plaque on the Jim's training room wall.

Lloyd is a fellow CPA who grew up inside his father's accounting firm, scaled it to 26 staff, sold it in 1999, and retired.

He came back to consulting, met Jim Penman, and ended up running one of the strongest divisions in the Jim's Group. In this episode of the Jim's podcast, Lloyd sits down with Joel to break down how the division actually works, what makes a successful Jim's Bookkeeping franchisee, and why his vision for the group is to build the happiest bookkeepers in Australia.

Lloyd also covers the Payday Super legislation coming in on 1 July, why every Jim's franchisor needs to know about it, and the new MYOB Solo deal that gives any new business owner a year of accounting software plus 2 months of a Jim's bookkeeper for $11.

He also explains the new regional franchisor pathway designed specifically for existing accounting firm owners who want to slow down without selling.

timestamps

00:00 Introduction
00:19 50 Franchisees and Growing
01:20 Lloyd's Accounting Background
02:56 Taking Over Jim's Bookkeeping
05:54 Franchise Myths Accountants Get Wrong
07:33 How the Franchise Works
09:08 Weekly Support and Ask the Experts
11:46 Training and Systems
16:12 Traits of Successful Franchisees
18:45 Regional Franchisor Opportunities
21:14 Getting Your First Clients
25:30 Starting Part-Time
26:31 Services Offered
27:31 Payday Super Explained
30:29 Vehicle Log Books and Tax
31:47 Cash Flow Advisory
33:48 AI and the Future of Bookkeeping
41:13 Building Wealth Through Business
49:10 Franchise Costs
51:56 The Happiest Bookkeeper
53:00 Contact and Final Thoughts