£1m Franchise Resale: A Landmark TaxAssist Success Story
In 2012, the TaxAssist Accountants network achieved its first £1 million franchise resale, setting a new benchmark for the profession. Mark Fordham sold his Harpenden and St Albans franchise to Mike Melling, achieving a multiple of 1.25 - significantly ahead of the accountancy industry average of 0.8–1.
This landmark resale highlights the strength of the TaxAssist model: building profitable local practices that deliver both income and long-term asset value.
From Corporate Career to Successful Franchise Owner
Mark Fordham joined TaxAssist Accountants in October 2003, bringing a background in banking, internal audit and degree-level lecturing. After years working in large corporations, Mark wanted to build a business of his own - one that offered independence, control and the opportunity to work close to home in St Albans.
“I wanted to be in charge of my own destiny and build a business that I truly owned," said Mark.
Training, Support and Accelerated Growth
From the outset, Mark benefitted from TaxAssist’s comprehensive training and ongoing support.
“The training and support I received was fantastic. The initial training in Norwich covered accounts, taxation, software, sales and marketing. Ongoing support included technical and marketing helplines, onsite visits, update training days and the advice of other franchisees.”
In 2009, Mark opened his TaxAssist shop, which immediately boosted client acquisition through increased visibility and walk-in enquiries.
“The shop gave the business a professional appearance and even more credibility. Combined with networking and marketing, it really accelerated growth.”
Building a £1m Business Asset
Starting from a blank sheet of paper, Mark grew his practice to:
- 900 clients
- 13 members of staff
- A highly systemised, saleable business
“It was hard work and great fun. I estimate the business was at least two years ahead of where it would have been if I’d started on my own, purely because of the franchise support.”
Mark is open about the challenges too: “I worked harder than ever and was slow to take on staff at times. Like many business owners, I occasionally worked in the business rather than on it.”
Award-Winning Performance
Mark’s achievements were recognised across the network and the wider franchise sector. He won:
- TaxAssist Fastest Growth Award – three years running as well as Accountant of the Year
- British Franchise Association Franchisee of the Year Bronze Award (2009)
A Successful Exit: Selling the Franchise
In early 2012, Mark informed the Franchise Recruitment team that he wished to sell. Just six months later, in October 2012, Mike Melling purchased the Harpenden and St Albans franchise - completing TaxAssist’s first £1m resale.
This successful exit demonstrated the resale strength and asset value of a well-run TaxAssist practice.
The Buyer: Continuing Growth Under New Ownership
Mike Melling joined TaxAssist with 30 years’ experience in financial services and operational consulting, having held senior roles at organisations including American Express, GE Capital and Marsh & McLennan.
Mike was looking for:
- A family business his wife Penny and children could be involved in
- A scalable operation with long-term asset value
“The more I learned about the TaxAssist model and spoke to people at the Norwich Support Centre and across the network, the more convinced I became that this was the business I wanted to buy and grow," said Mike.
Scaling Further Success
Following the initial resale:
- Mike purchased a second franchise resale in High Wycombe and Beaconsfield in 2015
- Invested heavily in people, technology and client acquisition
- Grew the practice to a 25-person team
Having been built and operated very effectively over 12 years, in 2024 the practice was purchased by The TaxAssist Group, becoming a milestone £2m sale.
From Franchisee to Board Director
Mark’s relationship with TaxAssist continued beyond his resale. In 2015, he joined the TaxAssist board as a Non-Executive Director, representing franchisees until 2022.
Mike’s journey also came full circle when he was appointed a Group Director on 1 February 2022, becoming the first TaxAssist franchisee to serve as an Executive Director.
A Proven Model for Growth and Exit
This £1m resale demonstrates how TaxAssist Accountants enables franchisees to:
- Build profitable, scalable practices
- Accelerate growth through proven systems and support
- Create valuable business assets with strong resale potential
To view our current practices for sale - click here.
