Frontrunner

TaxAssist Accountants continues to see double digit growth, with demand for its services attracting 13,890 new clients in the past year alone

An innovative, award winning franchise, which has been operating successfully for more than 20 years, TaxAssist Accountants was established specifically to meet the accountancy needs of small businesses, as well as proving ideal for a franchise network.

A consistent winner of awards in both the franchising and accountancy sectors and - with 288 branches, including 191 shops - TaxAssist has become the largest network of small business accountants, servicing more than 60,000 clients with a fee bank of £40 million With its established brand, TaxAssist stands out from the crowd. The majority of franchisees operate from highly visible, accessible and welcoming shopfront premises, which have been designed specifically to appeal to the small business target market.

Keen to grow further, TaxAssist is looking to recruit more accountants and senior finance professionals who wish to establish their own accountancy practice. TaxAssist has found they make equally good franchisees, because what is important is that candidates have plenty of energy, a friendly persona, are technically competent and have a desire to succeed.

Franchisees can employ accountants, while they concentrate on building the business, holding client meetings and networking.

Phil Sullivan, group operations director at The TaxAssist Group, explains: “I’ve seen people join us for a variety of reasons. Some are looking for a better work/life balance or less time commuting, while others want to work for themselves after spending a number of years as an employee.

“What they all have in common is that by becoming a TaxAssist franchisee they can work for themselves - but not by themselves - while building a valuable asset, as accountancy fee banks are very saleable.

“With our help and support, we can help you achieve your personal goals, whether you’re working towards a five or 25-year contract. Tax and accountancy services are always in demand and, with our retail-style shop concept, which is so convenient for the small business owner, we know how successful you could be.”

“It was exactly what I was looking for”

One franchisee who has been delighted at joining TaxAssist is Mike Melling, who bought one of the largest practices in the network in December 2012 and seen it go from strength to strength.

Mike now operates from shops in Harpenden and Radlett, an office in St Albans and recently purchased another shop covering Beaconsfield and High Wycombe when the franchisee retired.

He says: “After 30 years working in financial services and operational consulting, I decided I was very keen to develop a family-owned business.

“I was looking to buy an already established business that was sizeable and profitable, so I started to look at the franchise arena and discovered TaxAssist. The more I looked at what TaxAssist did with its very impressive model, the more I liked it.

“While many franchisees start from scratch, there were also a lot of sizeable businesses that I was potentially interested in buying, so decided to go down the franchise resale route.

“I now have a substantial business and operate with a team of 20 accountants and staff and we’ll be expanding that, as I’m aiming to double the business. We have a broad range of clients, including sole traders and start-ups, through to high net worth directors of limited companies.

“We have over 1,200 clients and the business has grown pretty rapidly, so there’s been a big investment in client service, people, training and development. It’s exactly what I was looking for at this stage of my life. I enjoy the client contact and the massive cross section of businesses we help every day.”

“I love the variety”

Another equally happy franchisee is Cheryl Hopkins, who operates from Nuneaton in Warwickshire. She joined TaxAssist in 2009, after the birth of her first child made her realise she needed to escape the corporate rat race and work for herself.

Seven years later, she has built her practice to look after 300 clients from her shopfront premises with a team of six staff.

Cheryl says: “Before I became a TaxAssist franchisee, I was a senior accountant in a manufacturing company in Leicester. I was involved in the weekly accounts and costing products, so I’d never previously had dealings with personal tax returns.

“Returning to work after maternity leave, I realised it was very difficult juggling home and work life with the pressures of working overtime and monthly deadlines. I just thought no, I need to work for myself to have more flexibility and freedom.

“I wanted the support I would receive from a network of accountants, a working model and best practice guidance. I thought the TaxAssist franchise would give me a good grounding to start the business off and it has.

“I have benefited from the input and support the support centre has given me and I definitely could not have done this without them.

“I now work closer to home, open the shop 9-5, very rarely have to work overtime, don’t work weekends and it’s easier to juggle home and work life. I’m having so much more time now with my family.”

Cheryl says TaxAssist was by far the best franchise she looked into: “When I attended a discovery day, the support centre staff were genuine and open, which assured me they would provide the promised level of support. It was a very relaxed day and had a family feel to it, as they care about you making the right decision.

“As part of my research I talked to several franchisees, who all shared the same messages - the model works and the support centre does what it says on the tin, but the success of your business is equally reliant on your effort, approach and investment.

“Now six years into my franchise, I have a stable business. Walk-ins into the shop are still a daily occurrence and I’m finding referrals happen more and more, as clients are recommending our services to business associates, friends and family. I love the variety of clients who I meet and work with.

“In the future I’m hoping to open another shop, buy another franchise territory, build up my staff, who I could potentially sell the business to, and then retire. But that won’t be for a long time yet.”

Five-star satisfaction

TaxAssist has won awards for the level of support offered to its network, including a five-star franchisee satisfaction award on the back of a survey of its franchisees for the last three years.

All TaxAssist franchisees receive initial and ongoing training and support packages for franchisees and their staff, as well as access to a variety of services from highly experienced staff at the support centre.

This help includes telephone advice for any accounting and tax issues, lead generation, marketing campaigns, localised and national PR and a wealth of additional service providers, so franchisees can offer an enhanced service to their clients.