Richard Parkin joined TaxAssist Accountants in 2010, establishing his practice in Solihull in the West Midlands. After 15 successful years, he has retired and handed over the reins to his business partner, Jason Everton. In this case study, Richard reflects on his rewarding journey as a TaxAssist franchisee.
I had been working for many years in corporate finance for international accounting firms and was made redundant in 2008 following the financial downturn. I immediately moved into a finance role with another large corporation and carried on with the grind of long hours and travel in the UK and abroad. It had increasingly been in my mind that though rewarding, the lifestyle was no longer as attractive as it once was.
A friend had worked as a franchisee for TaxAssist in its very early years and I had been keeping an eye on how the franchise developed.
I attended the Discovery Day in 2008 but didn’t immediately sign up. My existing work took me to Stoke and then Manchester and the increasing commute from Birmingham finally persuaded me that I should set up a business of my own. I had been very impressed by the Discovery Day presentation and found the team in Norwich to be enthusiastic and supportive.
I did look at a couple of alternative franchises, but TaxAssist stood out as the most professional and driven but also most approachable. Their plans for brand development suggested this was the right franchise – and this has been borne out by the impressive growth in the network that has reinforced my own business.
I duly joined in April 2010 and spent several weeks on the training course. This was a very enjoyable time, and my fellow newbies were a wonderful and fun bunch. I have watched them all make a great success of their own TaxAssist Practices.
I started in serviced offices in May 2010. I well remember the first day sat in that office on my own wondering what on earth I had done! At 3pm the phone rang – it was the Inbound team with a prospect for me. Enthusiastically I drove round to meet the prospect on my way home and signed him up immediately – I was overjoyed and thought “this is going to be easy!!”
Well, it wasn’t all as straightforward as that, but the business progressed very well, supported at all times by the team in Norwich. My first member of staff joined in July 2010, and I moved into my shop in October 2010. The Support Centre team provided great assistance in locating the shop and in helping to choose systems. Revenues increased well ahead of the business plan, the team grew and then in 2016 to support the growth I was joined by Jason Everton, the other director in the business. The business has continued to grow and there are now 8 in the team.
Unbelievably I have now retired and passed the baton onto Jason.
The whole 15 years has been very fulfilling and rewarding - growing your own business, working and training you own team and all the time supported by a really encouraging franchisor. Being your own boss is very satisfying, at times hard, but the support means that work/life balance is maintained, and you can go at the pace that suits you.
Would I do it again? – yes without a doubt!
I can’t speak highly enough of the management and team at Norwich. I couldn’t have done this without them. They are constantly looking to develop the business, ensuring technical standards are high and staying ahead of the competition. They have been a major factor in the business’s success and ensure you never feel alone, even in the difficult times.
And if you join TaxAssist, make sure you follow the system and use the available support – and the rewards will come!
