We have developed an innovative business model that allows our franchisees to focus on a lucrative market of potential clients.
The proven TaxAssist Accountants franchise business model is straightforward: take on hundreds of individual taxpayer and small business clients, with relatively uncomplicated accounting, tax and advisory work, while being based in visible, accessible and welcoming shopfront premises.
By servicing the needs of small businesses, subcontractors and the self-employed, as a franchisee you can focus on a group of clients who have traditionally been under-serviced.
Why we focus on small business
Concentrating on the needs of small business clients can offer time-management advantages and through our training and support functions, you can also provide a first-class service to your client base, as well as now offering a suite of financial services under the TaxAssist brand.
These new service lines offer an enormous opportunity for future growth of the TaxAssist brand with recurring income streams, which also include advisory services, in-house payroll and tax consultancy services.
Build a sizeable, scalable and profitable accountancy practice
Our aim is to strengthen our network with franchisees that follow our business development strategies in order to build a sizeable, scalable and profitable accountancy practice.
These strategies are based on best practice and powerful marketing techniques that can accelerate the growth of each franchisee's business. Initially, you are likely to spend at least half your time on business development activities. As your practice matures and grows, you will spend more of your time attracting new clients, managing customer relationships and leading a team of staff members.
The goal is to work on the business rather than in it, and with many years of experience (since 1995) behind us, we have actively evolved our support infrastructure to enable franchisees to build their businesses in a commercial, modern and dynamic way. Read more about the 'TaxAssist Practice Engine' here.
Grow a valuable asset
While you are taking an ongoing income from your business, you are simultaneously building a valuable asset. When you are ready to sell your practice, we can help you realise the value of your asset, safe in the knowledge that you will be able to sell at industry multiple norms and beyond.
Examples of actual business sale prices:
- £460k fee bank, 1.3 multiplier
- £182k fee bank, 1.23 multiplier
- £190k fee bank, 1.3 multiplier
- £254k fee bank, 1.1 multiplier
- £340k fee bank, 1.4 multiplier
A highly visible shopfront model
TaxAssist is known for changing the landscape of the accountancy industry through retailing tax and accounting services, which has become the cornerstone of our success.
Visibility, credibility, walk-in business and brand reinforcement are just a few of the benefits that operating from shopfront premises brings to our accountancy network. Not only is this a place of work for franchisese and their staff to operate from, but it is also a permanent advert that performs day and night, right throughout the year, that has supported our growth and served us well.
Our dedicated support team will help you through every stage of setting up your shopfront location in the most efficient and convenient way possible. We'll walk you through everything from finding the right premises, negotiating your lease and planning permission through to refurbishment, staffing advice and holding your launch event.
“I wanted someone local and the TaxAssist Harpenden shop is just down the road from where I live. I read the advertising in the TaxAssist window and decided I needed their help to make my business more organised.
“An accountant being local and having a physical presence is important. If I hadn’t seen their shopfront, I don’t think I would have asked them to help me out.”
Nick Hancock - Harpenden Handyman - TaxAssist Accountants client
Acquiring blocks of fees and practices
As part of the franchise model, we help franchisees with acquiring blocks of fees from retiring practices and practices for sale to support the growth of their business. Our Fee Bank Acquisition Service is included as part of the Franchise Package, and we work with specialist industry brokers to identify new opportunities.
There are benefits to buying a fee bank as not only does it assist you in building your business, it can provide experienced staff members and good contact lists. Firms with a good understanding of technology can often generate returns quickly from purchased fee banks. Clients will see a smooth transition to the TaxAssist Accountants family and benefit from the enhanced range of services we offer.
The British Franchise Association
The British Franchise Association (bfa) is the only voluntary accreditation body for franchising in the UK. Its remit is to develop and continuously improve the standards of good practice in franchising and to accredit franchisors who meet these standards. The bfa represents more than 300 UK franchise brands each vetted against a strict code of business practice.
TaxAssist Accountants is a 'Established' and long-standing member of the bfa and we fully endorse their code of ethics and operate in accordance with them. For further information please visit their website: www.thebfa.org
Franchising is a proven, tried and tested route into self-employment and the banks are supportive in providing funding, as there is a lower rate of failure than going into business alone.
How can I get started with a TaxAssist Accountants franchise?
There are three different ways you can join us and become a TaxAssist Accountants franchisee: starting a new practice, buying an established franchise, or converting your existing business.
All of these methods are laid out clearly in our dedicated page.