The Area Representative opportunity
Having proven that the TaxAssist Accountants concept can be replicated in Ireland and Australia and that ongoing training and consultancy support can be given to overseas operations, TaxAssist is in a position to be able to offer its Area Representative Rights to selected states in the US.
The franchise industry
The latest (2016) International Franchise Association (IFA) Annual Report shows that in the US:
- There are 733,000 franchise units trading.
- The association has 1,349 franchisor members (there is estimated to be over 3,000 brands franchising in the US), in addition to over 13,700 franchisee and 680 supplier members.
- 7.6 million people are employed in franchising.
- The industry generates $404.6 billion GDP.
The Franchise Education & Research Foundation's 2017 Franchise Business Economic Outlook report also showed that the business services sector is the third largest sector in the US with more than 106,000 franchised establishments.
The TaxAssist Accountants model is fundamentally simple; to focus on the supply of professional accounting, taxation, advisory and associated services to small businesses through highly-visible and welcoming storefront locations.
The small business economy
For franchisees the market is small business. In the US, a small business is defined by the US Small Business Administration as those with typically no more than 250 employees. The US Small Business Administration 2018 Small Business Profile revealed the following in 2017:
- 30.2 million small businesses in the US.
- 99.9% of all businesses are small businesses in the US.
- 58.9 million - The number of people employed in small business.
- 47.5% of all US employees work in small businesses.
- 3.4% annual rate growth of the US economy at the 3rd quarter of 2017, against a growth rate of 1.5% in 2016.
We believe there is a significant opportunity for TaxAssist Accountants in the US. As the TaxAssist Accountants business model is to provide professional tax, accounting and advisory services to small businesses, we are not reliant on seasonality to drive income. In addition to the small business market, franchisees will benefit from the significant personal tax return market. The Internal Revenue Services (IRS) forecasts that in 2018 there will be in excess of 253 million tax returns filed.
Who we are looking for and your role
We are looking to award our Area Representative rights either to an individual who has been working at senior management level and is looking to use their business experience to build a saleable business, or to a firm of accountants looking to go state-wide but doesn't want the costs of opening multiple offices or the risks associated with employing managers who could leave, with clients following.
Unlike the Master Franchise model, the Area Representative and us, the franchisor, share responsibility for recruiting, training, supporting and administering a network of franchisees. The responsibility will be split for the core support services. Your role will be to facilitate franchisee recruitment, train, and provide ongoing support to franchisees who open and operate single unit franchises within their Development Area. In return, you will receive a percentage of the franchise fee for each new unit sold, as well as a percentage of the ongoing Management Service Fees.
We will provide the established business model together with all the systems and tactics that have made us so successful in the UK, Ireland and Australia – you will bring with you financial and business or tax and accounting experience and plenty of energy, personality and vision – together this is a recipe for success.
What can you achieve?
By working with us and following our franchise support and business development model, proven in the UK, Ireland and Australia over the last 25 years, you should be recruiting franchisees and supporting them in growing their business, benefiting from the shared income. The potential for franchisee recruitment and ongoing management service fee income is enormous.
We have proven in the UK, Ireland and Australia that the TaxAssist Accountants franchising concept works. In 2009, we awarded our Master Franchise Rights to an accounting firm in Ireland who have gone on to establish a network of 19 franchised territories (March 2020). The full case study can be found here. In 2015, we awarded Master Franchise Rights to an established firm based in Australia for Queensland, New South Wales, Australian Capital Territory and Victoria. They have gone on to establish a network of 10 franchised territories (March 2020).
With the success we have achieved in the UK, Irish and Australian markets, we have the confidence to support Area Representatives in selected markets where we believe there is genuine opportunity.
Out of all the 50 US states, 22 have a population in excess of 5 million and are, therefore, suitable for TaxAssist Accountants Area Representatives. There are a further 28 states with a population of less than 5 million which could be viable for Area Representatives or be bolted onto existing states.
US Area Representative Prospectus
For information on the TaxAssist Accountants US Area Representative opportunity, download our Prospectus here.
If you are interested in becoming an Area Representative in the US, then please call our recruitment team on +44 1603 447 402, or email [email protected].
The franchise information in this advertisement does not constitute an offer to sell a franchise. The offer of a franchise can only be made through the delivery of a Franchise Disclosure Document. Certain states require that a franchisor register their Franchise Disclosure Document with that state prior to the offer or sale of a franchise. We will not offer or sell franchises in those states until we have registered our Franchise Disclosure Document (or obtained an applicable exemption from registration) and delivered the Franchise Disclosure Document to the prospective franchisee in compliance with applicable law.
David Paulson QFP
Senior Manager, Global Franchise Recruitment
David joined The TaxAssist Direct Group in 2009 with the responsibility for franchisee recruitment in the UK. During this period, David was instrumental in recruiting 93 franchisees into the UK network, plus over 20 franchisees in Ireland and Australia. David was also responsible for brokering the sale of our first £1million ($1.6 million) franchise resale. As Senior Manager for Global Franchise Recruitment, David leads the expansion of the TaxAssist Accountants brand into targeted international markets. This role includes supporting Master Franchisees with franchisee recruitment and ensuring legal compliance with Australian franchise regulations.
Prior to joining TaxAssist, David worked for one of the UK’s leading franchise consultants and publishers and brings with him a thorough understanding of both the UK & International franchise markets and excellent contacts to further support TaxAssist master and single unit franchisees. After a two-year period of study, completing dissertations and a formal interview process, David has been recognised as a British Franchise Association (bfa) Qualified Franchise Professional (QFP). The QFP is a formal recognition of professional knowledge and experience in franchising and demonstrates the individual’s understanding of the complexities, best practice and expertise in franchising.
In December 2018 David was elected to the British Franchise Association’s Board of Directors. Representing all members – franchisors, franchisees and the professional advisors, the bfa is the ethical voice of franchising in the UK, representing members and helping to promote them within the industry and beyond. They also provide information and advice to businesses planning to franchise, or people considering joining a franchise.
Senior Business Development Manager, QFP DipFM
Richard joined TaxAssist in July 2015 following seven years at a leading international franchise consultancy and publishing company, FDS. Richard graduated from the University of Northampton with a First-Class degree in Retail Marketing before joining FDS and specialised in creating Franchise Operations Manuals for business expanding by franchising, working alongside experienced franchise consultants and working with a number of national and international clients.
With more than 10 years’ experience in national and international franchising, Richard is responsible for the running of the Business Development department to deliver sales and marketing campaigns across the UK. Leading a team of 12 sales and marketing professionals who are solely focused on winning new clients for the 300+ TaxAssist Accountants shops and offices we have in the network, Richard is also responsible for leading the Franchise Recruitment and International teams to recruit new franchisees and deliver support to our global network.
Richard holds a Diploma in Franchise Management and is recognised as a British Franchise Association Qualified Franchise Professional (QFP), which is a formal recognition of professional knowledge and experience in franchising and demonstrates the individual’s understanding of the complexities, best practice and expertise in franchising.
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UK & International Recruitment Executive
Hannah is a long serving, dedicated and experienced member of the TaxAssist Accountants Support Centre. She joined the franchise recruitment team in 2003 and has experience of all roles within the department. Currently, she has responsibility for promoting the TaxAssist Accountants franchise opportunity in the UK and Internationally by writing articles and news stories and updating content on our websites and on social media platforms.