Woods Russell

About Woods Russell

At Woods Russell Accounting, ethos is rooted in responsiveness and ethics when it comes to client care. Since the brand’s inception in 2016, Woods Russell has aimed to provide a premium service that goes beyond traditional accounting practices.

The founder, drawing from experience in the accounting and insurance sectors, took steps to place client satisfaction and ethical business practices within the company’s foundations.

The business franchise deliberately positions itself as a premium service provider. While fees are slightly higher, it aims to deliver an unparalleled level of service that clients, mainly limited companies with an annual turnover of under £10 million, truly value. This approach has allowed Woods Russell to build a trusted reputation, with its client base - steadily growing over the course of seven years.

The brand’s customer-centric strategy is tailored to businesses sized between 2-5 employees, with a yearly turnover between £300-500k. In addition to the primary client base, services extend to sole traders and self-employed individuals.

Woods Russell offer a range of service packages for customers including the Virtual Finance Director package enabling you to partner with your clients, while aiming to offer an unparalleled level of service.

Current services on offer include managing year-end accounts, VAT, and payroll, which are integrated into monthly-retainer packages. The business has also implemented a monthly payment system, ensuring a steady cash flow for franchisees while eliminating the need for chasing invoices or credit control.

Woods Russell promises to turn around accounts within one month from receiving the information. Costs are transparent, confirmed upfront, and presented as a monthly amount for the client’s clarity. Teams commit to responding to clients within one working day.

How does the Woods Russell franchise model work?

• Proven business model: Leverage tried-and-true business strategies, honed over years of experience, to help secure your success.
• A bespoke induction training programme: Covers all operational aspects, setting your franchise up for success. Plus, ongoing support ensures you’re never alone on your journey.
• Strong brand recognition: As a Woods Russell Accounting franchisee, you’ll benefit from joining a recognised brand within the industry.
• Fringe benefits: Enjoy the advantages of business ownership without the risks of starting from scratch.
• Exclusive territory rights: Secure exclusive rights to serve customers in your territory, encouraging a flourishing client base.

What type of franchisees are you looking for?

Woods Russell is open to talking to a variety of prospective franchisees, whether you’re an experienced accountant keen to be in charge of your own business journey, an accountant career returner looking for the work-life balance you deserve, or a savvy entrepreneur ready to dive into the world of business.

Did you know?

Woods Russell has an expected revenue of £100,000 after 2 years!

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Training and support

Initial training introduces franchisees to Woods Russell business systems and processes, providing the hands-on skills and knowledge you need to begin trading in a professional and organised manner.

Items that are covered in the training include but are not limited to:
• Company history: The philosophy behind the Woods Russell franchise operation, the brand’s positioning in the marketplace and how the business has developed.
• Offering: You will be educated on all aspects of running a professional business.
• Customer service:Woods Russell is a customer focused business and as such it has developed customer focused systems to ensure that clients are happy with the service they receive and will return.
• Business planning: The fundamentals of business planning, how to apply them to your business success, and understanding what the franchisor expects of you.

All systems and processes will be worked through on a one-to-one basis to ensure confidence and consistency throughout the business. The head office team will cover all aspects of the business including operational tasks, pricing strategies, and equipment maintenance.

Financial information

An investment in a Woods Russell franchise costs £10,000 with £10,000-£20,000 of additional working capital required. There is also a 8.5% royalty fee.

Why is Woods Russell a good investment?

Accountancy practices in the United Kingdom (UK) have displayed progressive growth over recent years.

The total revenue generated by the UK accountancy market was approximately £28.7bn in 2020, indicating a Compound Annual Growth Rate (CAGR) of 8.3% from 2016 to 2020, according to HTF Market Intelligence.

The advisory segment particularly emerged as the most lucrative in 2020, constituting 39.6% of the market’s overall value, with total revenues reaching approximately £11.4bn.

The resilience of the UK’s accountancy market is further reinforced by the ‘Accountancy Profession in the UK and Ireland’ report, displaying its substantial contribution to the GDP.

What locations is Woods Russell looking to target?

Woods Russell is looking at territories in England and Wales, ideally in London, South/South East England, and the home counties.

What are the franchise terms of agreement and renewal?

5 year agreement