TaxAssist Accountants - Accountancy Services Franchise
Finance Requirements
- Initial Franchise Fee
- £34,450 + VAT or £19,950 + VAT
- Working Capital
- £20K-50K
- Total Investment
- £50k - £100k
Available Areas
Franchise opportunities available throughout the UK. Resales also available
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About Us
TaxAssist Accountants was founded in 1995. The company has been set up to provide a national network of trained, experienced personnel, offering a professional and personal service in accountancy, taxation and business services to small businesses.
The company's founder, John Westgarth, is an experienced and innovative Chartered Accountant. It was whilst working in practice in 1995 that he saw an opening in the market place. He realised that small businesses would need help with their accounts in the wake of self-assessment, and he anticipated that the demand for such a service would be ideal for a franchise network. TaxAssist Accountants was formed on the back of this realisation.
Self Assessment has revolutionised the way in which small businesses and the self-employed are required to report results and calculate tax liability. To meet this demand, there is an ever-increasing need for a good, local, personal service. Many small businesses find they don't get the service they deserve from their present accountant and resent the large fees they have to pay. Therefore they are often willing to change to an accountant that specialises in offering a complete range of services specifically for small businesses.
| In 2010 The British Franchise Association (bfa) awarded TaxAssist Accountants the highly coveted Gold award at the Franchisor of the Year Awards 2010. TaxAssist Accountants faced tough competition from the seven other shortlisted finalists including household names such as Dominos and McDonalds. This award win follows two Silver place wins for the small business accountancy specialists. Winning an award for a third consecutive year at this prestigious event confirms that TaxAssist Accountants continues to be one of the major players in the Franchise world. |
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Our target market is the sole trader, partnership or small limited company.
The Franchise Opportunity
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TaxAssist Accountants are the largest network of accountants specifically servicing the small business market and now service over 40,000 clients with a combined fee bank in excess of £25 million putting us in the Accountancy Age top 50 league of UK Accountancy Practices
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We focus on a lucrative market that is largely untapped by the more traditional accountancy practices who tend to go for the larger business with higher fees, but more complicated work
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We operate a tried and tested model that can give you business success
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You will have a valuable and tangible asset to sell upon your exit
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We provide full support and back up from a professional and experienced team to help your technical competence and your ability to promote and grow your business
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You gain rights to an exclusive territory
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You gain the ability to trade under a national brand name
Why become a TaxAssist Accountant?
The business model of TaxAssist Accountants is fundamentally simple - to take on hundreds of small business clients - with relatively simple work, whilst being based in visible, accessible and friendly shop front premises.
Many of our franchisees were fed up with the daily commute, bored, had been made redundant or were frustrated with working hard to make others rich. They realised that taking on a franchise, which offers a service that has been and always will be in demand, could be the answer.
They saw the business model made financial sense, with the potential for taking a good salary whilst creating a real asset for their long term future. 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.
By adhering to the business model and taking a proactive approach to marketing in your territory, you should be attracting clients at a considerable rate. Client acquisition will be facilitated by your shop front presence, and your marketing and networking activity will significantly help the build-up of your fee-bank.
Training and Support
TaxAssist Accountants Training
Training is carried out at our Support Centre in Norwich by qualified personnel in an informal atmosphere. It is designed and delivered by our in house team of qualified accountants and trainers in conjunction with specialist training partners.
The courses are residential and TaxAssist Accountants pays for all meals, accommodation etc.
The Training Programme runs for 6 weeks. We require all new franchisees to take an online aptitude test at home before joining the training course, and for those whom we feel it would be beneficial, we require them to attend a two day introduction to bookkeeping course ahead of the 6 week training course. If the franchisee passes the aptitude test they do not need to complete the pre-course training although they can still attend these 2 introductory days if they wish. The training course consists of:
- The first three weeks cover all aspects of accounts production and taxation for sole traders and partnerships and CCH software training.
- For the fourth week you will be working from home. You will be given relevant case studies to work through.
- The fifth week covers practice management and social media training.
- In the last week you will receive sales, marketing and recruitment training.
TaxAssist Accountants Support
Full training, support and guidance are given to operate your business under the TaxAssist Accountants brand name.
You will receive:
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Financial Information – The franchise packages
We offer two entry levels to the franchise:
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The first entry package costs £34,450 + VAT and allows you to work from a commercial office and then move to a shop front by the end of your third year.
Alternatively you can also open up a shop front from day one. The franchise fee includes an exclusive territory, licence fee, a fully configured laptop and IT software, training fees, our Nurture Programme that helps you to maximise your activities and kick-start your business, operations manuals, promotional material and stationery, an accountancy and tax helpline and national marketing amongst many other things.
We also provide 25 free client leads from our lead generation providers and look to arrange membership of a networking organisation wherever possible, simply to help you raise awareness of your business in the area.
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The second package is called the ‘Rural Package’ and costs £19,950 + VAT . We are offering this package in limited rural areas.
This package has been created on the back of the increasing desire among many to escape the confines of city practices and the costs of city living through the purchase of a practice in a new location such as smaller market towns or rural areas. We have selected various locations around the country where we wish to offer this package, and it would also be relevant if a reduced size territory is all that is available in a certain area. Please speak to the recruitment department to see what areas are included.
The main differences between this package and the one listed above, are that you would be paying a reduced franchise fee, and your ongoing costs would also be lower. This is because you only have a territory half the size of a standard size territory.
Read More About TaxAssist:
Accountancy Franchise Wins Award
Accountancy Franchise Owner Wins Award
Tax Franchise Opens 90th Branch
Accountancy Franchise Wins Award – Again
We launched our flagship shop front office in 2002 and we now have over 100 shop fronts spread throughout the country.
When you join TaxAssist Accountants, you will be making a commitment to operate your franchise from shop front premises within 36 months of joining. Our Franchisee Development Managers will be able to assist you when considering location, and they can help you locate suitable premises within your territory.
We operate in a lucrative market and provide a service, which is, and always will be,
in demand where the rewards can be substantial.
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