TaxAssist Accountants Introduction

TaxAssist Accountants Introduction

An Introduction to TaxAssist Accountants TaxAssist Accountants is the UK s leading Tax & Accountancy Franchise and the UK s largest network of accountants specialising in providing professional tax and accountancy services to small businesses. Founded in 1995, the TaxAssist Accountants franchise is based on a concept that was - and still is - fundamentally simple: to bring first class professional services to the small business owner. TaxAssist Accountants stand out from the crowd, operating from highly visible, accessible and welcoming shop front premises, which have been designed specifically to appeal to the small business target market, allowing them to access services at their convenience. There are now over 200 TaxAssist Accountants franchises around the UK, operating from over 280 shops and offices. Our aim is to continue to expand in a controlled manner to become a UK wide (and also now International) network of people, all working hard to succeed in both financial and personal terms. As a company we are 100% a franchisor; with no company-owned outlets or clients of our own. We have been a proud member of the British Franchise Association since 2003 and adhere to their code of ethical conduct. Who we look for We look for people who are capable of setting themselves up in business and see the value in the brand, training, support and systems that investing in a franchise with TaxAssist Accountants brings. Your role would be business development, which is why TaxAssist will consider commercially experienced individuals as well as qualified accountants to become franchisees. In order to work on the business rather than in it, you must be able to build a team of staff to assist with work production, as your time will be spent as principal of the business, networking, managing staff and meeting with clients. A new franchisee will need to demonstrate high levels of: Commercial awareness Business acumen Energy Motivation Communication skills Leadership skills

Our market The small business target market accounts for 99% of all private sector businesses in the UK and every small business needs to have an annual set of accounts prepared in one form or another, for taxation and other purposes. With the advent of Making Tax Digital and the introduction of new software, very few businesses will have the knowledge or inclination to prepare their own accounts, hence the ever-increasing demand for accounting services. In addition, there are people who need to complete their own Self-Assessment who will require some help and will turn to a professional for assistance. We encourage all franchisees to focus on those businesses with a turnover of under 2 million. This has many advantages. It keeps work relatively simple and there is much more security in operating with 400-500 small business clients, each with a modest average annual fee in that if some of the clients leave, the risk to the overall business is negligible. The Franchise Package Each of our franchisees runs their own business, under the TaxAssist brand name, with full initial and ongoing training and support from the Norwich-based Support Centre. The franchise fee of 36,950 + VAT includes: Licence fee Exclusive territory Training initial six-week training course plus six-month nurture programme 25 free client leads Marketing campaigns & support Comprehensive online operations manuals Technical advice helpline, support website, support material and visits from our technical team Hardware Stationery Access to specialist advice/in-field back-up Plus much more! What can be achieved The growth and development of your business will depend on your own ambition. Our franchisees usually and consistently build up their business to achieve a turnover of 300,000+ after five years. After this time, some franchisees are happy to maintain this level and are comfortable with the income generated from the business. Many of our franchisees take the opportunity to continue to build upon their initial success and grow their businesses. By progressively developing their networking and marketing strategies, a number of franchisees are able to achieve a turnover of 500,000 or more.

Why become a TaxAssist Accountant? 1. OUR BRAND NAME & SHOP CONCEPT We are the leading franchised accountancy organisation looking after small businesses, with more than 20 years experience operating a substantial national network of branded shops and offices. We have a highly visible presence with over 200 shops and growing around the country. The shop brand is supplemented by the many branded cars driving around the country, national advertising, internet presence and marketing collateral. Our dedicated support team will help you through every stage of fitting out your shop to help you to complete your move in the most efficient and convenient way possible. We will walk you through everything from finding the right premises, negotiating your lease and planning permission through to refurbishment, staffing advice and holding your launch event. When I made the big decision to step out by myself, the initial and obvious route was to become a sole practitioner but starting up a new business in central London can be paved with pitfalls, so I started looking into different options. The TaxAssist Accountants brand offered a much stronger and more immediate profile in terms of attracting small businesses and individuals needing Accounts and Tax Returns, which is my target market. Martin Thomas FCA Franchisee in Central London Victoria 2. OUR TRAINING & SUPPORT We are confident that we are providing the best initial and ongoing training for you and your staff. We deliver a comprehensive initial six-week training course, ongoing update days, as well as bespoke training if needed in Norwich and regionally, as well as a Continuing Professional Development Programme. The tax and accounts training is provided by our own staff and specialist training partners, and we provide a six-month nurture programme after the initial course focusing on business development, HR, staff recruitment and client acquisition. We also provide courses on pricing and fee raising, as well as social media training to keep our network abreast of business relevant developments. Our Training Academy offers courses throughout the year, and with a focus on succession planning and looking after quality staff, we offer an extremely popular management programme to train senior staff. The Support Centre provides help and assistance in all areas. The technical support, in particular for me as somebody that didn t come from a traditional accounting background, was invaluable and continues to be used today as does the excellent marketing support. Terry Peachman Franchisee in Lincoln & North Hykeham Marketing support has been excellent with practical guidance being available at the end of a telephone. They were particularly helpful when we were setting up the shop first class! Since then we have picked their brains a number of times for marketing ideas and guidance. Lloyd Evans ACA Franchisee in Halesowen, Kingswinford

3. AWARD WINNING TaxAssist Accountants is an innovative and multi award winning franchise, winning awards in both accountancy and franchising arenas. We have received 5* franchisee satisfaction for four years in a row, with TaxAssist Accountants rated higher than industry standards for all 29 questions, which inform leading independent franchise consultancy company Smith & Henderson s final Franchise Satisfaction Benchmark report. We have also won Gold, Silver and Bronze awards at the prestigious British Franchise Association Franchise of the Year awards, as well as Best Franchise Awards for training and support. The network was placed 21st in the 2016 Accountancy Age Top 50 league table on UK fee income, up 13 places from when we first appeared in the 2010 report. The key thing is that being part of a successful franchise has meant that my business has grown much, much quicker than it would have done otherwise. If you were to ask me, would I do it all again? I d say in a heartbeat! I wish I could have done it sooner! Richard Brookes FCA Franchisee in Cambridge The more I found out about the growth and success of the TaxAssist Accountants model and the more I talked to people at the Norwich Support Centre and around the network, I became convinced that this was the business I wanted to buy into. Mike Melling Franchisee in Harpenden, St Albans, Radlett and Shenley

Why become a TaxAssist Accountant? 4. MATURE, PROVEN BUSINESS MODEL TaxAssist Accountants is an established brand known for breaking with tradition, challenging the market and daring to be different in an industry that has not experienced this before. Having operated successfully for over 20 years, we have actively evolved our support infrastructure to enable franchisees to build their businesses in a commercially dynamic way. We have experienced every element of running an accountancy practice, and can provide you with a complete blueprint of how to operate your practice. We ve achieved success through acknowledging and harnessing the power of the digital technology, creating unique and powerful business to business relationships and launching bricks and mortar high street presences right across the UK. Demand for the accountancy and tax advisory market continues to be strong, especially as tax legislation becomes ever more complex. There seems to be no shortage of start-up businesses and existing businesses are keener than ever to ensure they have secured competitive fees, which drives enquiries in our direction. Growth has always been strong and having more than one visible shop increases our potential significantly. The main attraction of TaxAssist Accountants is their professional approach and the benefit of their mature business model. There is an excellent sense of belonging to a like-minded community while being an independent business. Carl Whitehead BA (Hons) MAAT Franchisee in Long Eaton, Derbyshire and Loughborough, Leicestershire 5. AN ACCOUNTANCY FEE BANK IS A VALUABLE ASSET FOR YOUR FUTURE While you are taking an ongoing income from your business, you are simultaneously building a valuable asset. When you are ready to sell your practice, we can help you realise the value of your asset and you have the knowledge that you will be able to sell at industry multiple norms and beyond. Fee banks are very saleable (there are more buyers than sellers) and with the TaxAssist Accountants brand name, this could add a premium to the value of the business when you decide to sell. There are lots of things I ve enjoyed tremendously about being a TaxAssist Accountants franchisee but most significantly I suppose is having and enjoying financial security in retirement. But more importantly, during the 17 years that I was operating the franchise I had financial security on a day to day basis, which I know my wife has enjoyed and I have too. I ve thoroughly enjoyed my time with TaxAssist. It s been an amazing experience and I m disappointed that it s now time to retire. John Robinson Retired Franchisee, Harrogate John built up a practice of over 1,000 clients with a fee bank of over 500,000, which he then sold to his franchisee business partner.

Why become a TaxAssist Accountant? 6. WORK/LIFE BALANCE The goal when running a TaxAssist Accountants franchise is to work on building the business rather than working in it. To successfully do this, you must be able to build a team of staff to assist with work production, as your time will be spent as principal of the business, networking, managing staff and meeting with clients. You can take control of your work/life balance by building up a team of trusted staff, who we can help you to develop, which means in time, you can take a back seat meaning you can have a light touch on the business. As I grew tired of corporate life, I started looking at options to start my own business again. Owning a TaxAssist franchise appealed to me, as I valued the on-going support and readymade systems which would fast track my business. I didn t want to be just an accountant. After attending a TaxAssist Discovery Day, it was great to realise that I was actually expected to run the business, employing accountants to do the operational side. This was exactly what I wanted and what I was looking for. Ali Redwood AFTA Franchisee in Clifton and Portishead

Your opportunity and the next steps Visit www.taxassistfranchise.co.uk Call us or chat online Book a Discovery Day Do your research and business plan Start Your TaxAssist Accountants journey