Yasir Razak, Head of Finance, Palm Oasis Ventures for Baskin-Robbins Australia
On integrity, commitment, and collaboration.
QSR Media: What makes you excited about your position?
Yasir Razak: As a child I grew up eating Baskin-Robbins ice cream, I remember going to stores and tasting all the different flavours before choosing my favourite “Choc Mousse Royale”. I am very familiar with the brand so when I was offered a management position with Galadari Brothers in Dubai I just had to accept. Galadari Brothers owns and operate more than 700 Baskin-Robbins stores across middle east, and is the largest franchisee in the world. During my tenure at Galadari Brothers, as the Groups’ Financial Planning and Analysis manager, I was instrumental in conducting the due diligence and feasibility study for the formation of the joint venture between Galadari Brothers and Dunkin Brands International, which resulted in the formation of Palm Oasis Ventures (POV) in Australia, the master franchisor in Australia for Baskin-Robbins.
Given my involvement in the joint venture formation and the in-depth insight I had gained into the Australian market, when I was offered the opportunity to migrate to Australia with my family and establish the Australian Head Office for Baskin-Robbins as the Head of Finance for Palm Oasis Ventures, I gladly accepted.
Baskin-Robbins is a dynamic global brand and I am excited by the growth opportunities that exist within the Australian Market. I work alongside a young and enthusiastic team, who are driven to succeed and realise the shareholder expectations for the Brand. Baskin Robbins is the world’s best ice cream and I am fortunate to work with such an amazing Brand.
QSR Media: What are your key business philosophies?
Razak: Franchise Partner profitability and sustainability is paramount, the success our business is dependent on our Franchise Partners’. In Australia we encourage a collaborative approach towards our Franchise Partners, we engage with them regularly and involve them in the overall development of the Brand Strategy.
As a member of the Senior Leadership Team and a member of the Institute of Chartered Financial Analysts (ICFAI), I have a commitment to both the business and to the Franchise Partners to provide guidance, support and the necessary tools for our Franchise Partners to succeed in their respective businesses (stores). Honesty, integrity and trust are my core business values.
QSR Media: What three goals are you focused on?
Razak: Profitability. Increasing profitability for POV, our Shareholders as well as our Franchise Partners.
Continuous Improvement. Identifying opportunities to improve and reduce the overall costs to the business, this is not just about cost cutting, but looking for new and improved ways to deliver improved outcomes for all stakeholders.
Integration of New Management Accounting Software. Implementation of a new accounting software system which will involve reengineering the processes and procedures within the Finance Department, Supply Chain as well as Logistics. This new system will improve the overall work flow and productivity within these departments and at the same time deliver efficiencies for the entire business and our Franchise Partners
QSR Media: What long-term changes are you planning on?
Razak: Improvements in the overall reporting and analytics within the business and for our Franchise Partners. We will be developing dashboards and reporting tools to assist our Franchise Partners with understanding their business costs and how to improve their profitability. We will be developing additional training modules for our new Franchise Partners on basic financial management right through to understanding a Profit and Loss Statement and Balance sheets.
QSR Media: What previous positions have prepared you for this one and how?
Razak: As mentioned above, my career in Financial planning and analysis has spanned over 10 years, working across various business sectors and for some large multi-international companies. Over the years, and with each position I have held, I have gained tremendous insight and knowledge in the finance and accounting sector. Working both as a team member and team leader has provided me with the experience to effectively manage a large management accounting team and realise the value of each individual and the role they play in the bigger business outcome. Working across many diverse markets internationally has provided me with the opportunity to gain a thorough understanding of each countries laws and regulations, allowing me to grow as an individual as I broaden my knowledge base and competencies as a Professional financial analyst..
