After purchasing a TaxAssist Accountants resale in Letchworth in April 2018, Bukky Shonola took the step from employed accountant to business owner. Backed by years of accountancy experience and supported by her husband and business partner, Oladapo, Bukky has grown the practice into a thriving local accountancy business built on strong relationships, community presence and long-term ambition.
Can you tell us about yourself?
I am a qualified AAT technician with close to eight years’ experience working in a variety of accountancy roles. After graduating with an honours degree in Philosophy, I began my career as an accountancy assistant with a charity and worked my way up to the role of accountant. In 2018, I made the decision to resign and take on the lead role in running the TaxAssist territory in Hertfordshire.
My husband, Oladapo, is a Fellow of the Chartered Institute of Public Finance and Accountancy (CIPFA) and has over 20 years’ experience across both the public and private sectors. He holds an honours degree in Accounting and Law, as well as a postgraduate degree in Accounting. While I manage the day-to-day running of the practice, Oladapo focuses on marketing and business development, allowing us to play to our individual strengths.
How did you raise the Finance?
The purchase of the business was funded through a combination of personal savings and bank finance.
What was your prime motivator for buying a TaxAssist franchise?
After working for other people throughout our careers, we felt the time was right to pursue our ambition of owning our own business. We wanted something that would provide a solid income initially, but also offer the potential to grow into something much bigger over time.
As accountants, the TaxAssist model felt like a natural fit. Attending the Discovery Day confirmed that this was the right opportunity for us and gave us confidence in the brand, the support structure and the long-term potential of the franchise.
What are your aspirations for the business?
We are very excited about the future and our ambition is to grow the business significantly, including opening multiple shops within our current territory. Our ultimate goal is to build a business that allows both of us to work strategically rather than operationally, with minimal impact on our family income as the business continues to grow.
What are your thoughts on the support and initial training?
The support from the TaxAssist Support Centre team has been excellent. At every stage of the process, they have been there for us and we really couldn’t have done this without them.
This was particularly evident when we experienced some challenges with the bank - the support team spoke directly with them on our behalf and helped move things forward far more quickly than we could have done alone. The initial training programme was delivered professionally and thoroughly, and by the end of it I felt well prepared to take on the role of a TaxAssist franchisee. I have every confidence that the support will continue as we grow.
What advice did you receive from the existing Franchisees?
The franchisees we met were extremely helpful and consistent in their advice. They encouraged us to follow the model closely, make full use of the Support Centre, and not be afraid to ask for help when needed. They also stressed the importance of working on the business rather than getting too caught up working in it.
It’s now been eight years since you took over the reins - how are things going?
The past eight years have been a journey of learning, growth and achievement. We have built strong relationships with our clients, supported countless businesses in reaching their goals, and made valuable connections within our community.
Building relationships has been central to our success, and I am grateful to everyone who has been part of this journey and helped shape who I have become as a business owner. Running an accountancy practice comes with its ups and downs, but the rewards - both personal and professional - have been significant.
I would like to thank my husband and business partner, Oladapo, for his constant support, and the TaxAssist Accountants Support Centre team for believing in us and being there every step of the way. To our clients, thank you for placing your trust in us - and to our incredible team, thank you for your hard work and dedication.
I am excited about the years ahead and look forward to new challenges as they bring new opportunities.
