We have recruited many accountants to the network who already had a block of clients/small practice of their own but were without support and struggling with how to attract and retain clients. They could all see that by utilising the TaxAssist brand and systems they could grow their practice to the next level.
Our Support Centre with over 70 staff, helps franchisees achieve their ambitions offering expert guidance, training, support, technology and innovative marketing and business development strategies.
Accountants are becoming strategic advisors to their clients and are taking on expanded roles with advisory services strengthening the client/accountant relationship. We have developed in house additional services (Tax, Payroll and Financial Services) to meet the needs of clients and making TaxAssist a one stop shop with a fully integrated client experience.
Reasons to convert your practice to TaxAssist Accountants
The most common reasons for a sole practitioner to join TaxAssist Accountants are:
- To benefit from our brand and proven client lead generation initiatives
- 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.
With TaxAssist you can build a substantial, saleable assetAccountancy practices are valuable, saleable and in demand assets. Why not maximise value by joining our established network?
Those who have joined us recognise the added value that TaxAssist Accountants brings. This includes an enhanced sale price when the time comes to sell and where good profitability and processes can be evidenced.
Accountancy practices typically sell for around 0.8 - 1x fee bank. We have many examples of our franchisees achieving in excess of this - with 1.4 x fee bank achieved in the last 5 years.
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 franchise fee is the same as for new start-ups at £39,950 +VAT.
Subject to a minimum fee base of £5,000 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 franchise
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 Franchise Prospectus. You can discover more about our franchise model, marketplace, franchise package, Initial Training Course, and much more. Click here to download our latest version.