We work with you both on creating your initial business plan and supporting you in achieving it
You will be asking yourself what can be achieved both in terms of turnover and profitability.
This is really down to you but we want you to build up your turnover and profits consistently, aiming after 5 years for a turnover of £300,000 plus.
Our training covers the staffing requirements for your business and we expect a third of your turnover to cover staff costs, another third to cover the other costs associated with running your business and the final third being your profit.
After 5 years some franchisees are happy to maintain this level, comfortable with the income generated from the business, whilst other franchisees continue to drive their business forward by continuing to be proactive with networking and marketing strategies pushing it past the £500,000 turnover level. We know that this level of success can be achieved and in some cases is exceeded.
The last few years have witnessed a number of global financial events which have challenged many businesses. However, we are happy to report that in the UK TaxAssist has continued to perform well in all areas racking up double digit growth year-on-year, a percentage growth rate that has in fact outpaced many larger firms.
Data analysis of the last two years for the UK network reveals positive growth in all key areas:
|Fee Bank||£39.0 million||£35.1 million||11%|
|Net fee income||£33.7 million||£28.6 million||13%|
Indeed, the TaxAssist rate of growth is accelerating. It took 18 months for the network to grow from 40-50 thousand clients, but only 9 months to grow from 50-60 thousand, which was achieved in April 2016. There are now over 200 TaxAssist franchises operating from over 250 shops and offices around the UK, and in the last year over 13,800 small businesses said “yes” to becoming a client of a TaxAssist Accountants franchisee.
All financial information in this website, with the exception of any financial information in the international section, is intended only for prospective franchisees in the United Kingdom. This information is based on actual historic information provided to us by our operating franchisees in the United Kingdom, and not elsewhere. Accordingly, if you are considering operating a TaxAssist franchise in any other country, do not review or rely on this information. It relates to UK only, and the differences between the UK and your country in respect of how long the system has been operating, the reputation and goodwill of the brand, the economic environment, competitors, industry associations and other factors make this UK information inapplicable to you. If we have elected to provide financial information for your country, it will be expressly set out in the international section.