Build your own accountancy practice in your local area with TaxAssist Accountants
Most people choose to join the network as a new start-up. This gives you the time to become accustomed to self-employment and build your team and practice up gradually. This represents a faster route to building your own practice and generating a significant and valuable business asset.
We currently have over 250 territories covered in the UK with more than 100 still available.
How much does a TaxAssist Accountants franchise cost?
Our Initial Franchise Fee for a new start is £19,950 + VAT.
What does it involve?
To find out more, read a selection of case studies from those who started their accountancy practice from scratch with TaxAssist Accountants here.
Buy an established TaxAssist Accountants practice
Purchasing an existing TaxAssist Accountants practice represents an excellent foundation upon which a new owner can further develop an established business with an income stream from day one.
The benefits of purchasing a TaxAssist Accountants practice resale include:
- An immediate income stream
- Potential for growth
- A well-known brand
- Experienced staff
How much does it cost?
Our fee for a franchise resale is half of our Initial Franchise Fee, £9,975 +VAT, as well as the price for the overall business.
This typically ranges from £150k–£1m and is payable to the incumbent franchisee.
To find out more about our franchise resales, please use the links below:
- Current TaxAssist Accountants practices for sale
- What is a resale?
- Resales process and next steps
- Resales FAQ
- Resales case studies
What does it involve?
When buying an existing TaxAssist Accountants practice, the price and terms will be negotiated with the selling franchisee. Typically a percentage of the total price agreed is payable on completion, with deferred consideration payable at agreed intervals thereafter.
To find out more, read a selection of case studies from those who have purchased a franchise resale here.
Convert your existing accountancy or bookkeeping practice over to TaxAssist Accountants
You may be asking “Why should I join TaxAssist Accountants if I already have my own practice?”
We have recruited many accountants and bookkeepers to the network who already had a block of clients/small practice of their own, but could see that by utilising the TaxAssist brand and systems they could grow their practice to the next level. Our Support Centre with over 100 staff, helps our network to achieve their ambitions, providing in-house additional services (Tax Consulting by TaxAssist, Payroll by TaxAssist and Financial Planning by TaxAssist) offering expert guidance, training, support, technology and innovative marketing and business development strategies.
The most common reasons for a sole practitioner to join TaxAssist Accountants are:
- the desire to scale up and maximise growth potential
- to benefit from technology, systems and business development support to diversify services
- develop multiple income streams from TaxAssist Group branded services
- to be part of a supportive network
- to work on, not in the business, by developing a team.
Accountancy practices are valuable, saleable and in demand assets and those who have joined our network recognise the added value that TaxAssist Accountants brings.
How much does it cost?
Your overall business start-up costs will depend on your current situation and is subject to the territory location being available. Our conversion fee is the same as for a resale, at half an Initial Franchise Fee £9,975+VAT.
Subject to a minimum fee base of £50,000 being involved, we will allow the fees introduced or acquired to be kept in a separate pool and for one year there will be no Management Service Fee payable on these fees. After twelve months, these fees will be amalgamated with other fees acquired during the TaxAssist Accountants Franchise term to form one pool and full Management Service Fees will be payable on the total pool of fees.
Get bank funding for your TaxAssist Accountants business
To enable you to join TaxAssist, we have built excellent long-term relationships with the major banks in the UK over the years, and we are A-rated with them. HSBC, Lloyds, Barclays and NatWest have dedicated franchise departments who understand franchising and are very supportive of our franchise.
Banks typically lend our franchisees a maximum of 70% of the total investment required, including working capital. Facilities include:
- Highly competitive rates
- Fixed and variable rate loans
- Committed overdrafts
- Business charge cards
The total investment figure will be dependent on your location, working capital and the level of personal drawings required. We will work closely with you throughout the business planning stage to create a plan that is realistic and establishes the right level of investment for you.
Interested in finding out more?
To find out more about owning and operating a TaxAssist Accountants business, take a look at our Prospectus. You can discover more about our business model, marketplace, package, Initial Training Course, and much more. Click here to download our latest version.
