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Landmark deal sees franchisees own 60 per cent of TaxAssist Direct Group Ltd

Landmark deal sees franchisees own 60 per cent of TaxAssist Direct Group Ltd

Franchisees from all over the world invest in themselves

With TaxAssist Direct Group directors, Karl Sandall and Phil Sullivan, standing down on 1 February, they decided to place a large portion of their shares up for sale. This was all the opportunity over 170 TaxAssist franchisees and 40 support staff needed with some 60 per cent of the company now being owned by those who believe in it most.

This is not a first for the company. TaxAssist franchise holders also grabbed the chance to own shares in TaxAsssist in 2014 when the group’s founder and chairman retired. An innovative Franchise Assisted Management Buyout scheme saw franchisees buy 32 per cent of the group. When asked about the most recent vote of confidence from franchisees, newly appointed group managing director, Daren Moore, was effusive in his praise.

He said: “I would like to thank our fantastic franchise network in all the countries we operate, who have once again provided the ultimate vote of confidence in us as a board and the TaxAssist business model, by overwhelmingly choosing to invest in The TaxAssist Direct Group, a situation which we believe to be unique in franchising. The new investors and the existing shareholders who purchased more shares this time are 100 per cent engaged with our strategic vision, and as shareholders have total transparency in all the group’s activities.”

With this investment coupled with the new appointment of Mike Melling being the first franchisee on the board, the voice of franchisees has never been more loud and clear at TaxAssist. Mike said: “I look forward to meeting with potential franchisees on discovery days and explaining more about the many benefits of joining and investing in the franchise and sharing in the fruits of the group’s success.”

This latest endorsement in the company from franchisees aligns with its ‘five-star franchisee’ satisfaction rating for nine consecutive years.

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