Both routes can lead to a successful accounting firm - but they come with different risks, timelines and operational realities. Understanding those differences early can help you choose a path that aligns with your experience, financial position and long-term goals.
Importantly, these routes are not mutually exclusive. Within established accounting networks such as the TaxAssist Accountants Franchise, accountants can choose to either start from scratch or buy an existing practice - with support available for both approaches.
What It Means to Build an Accounting Practice from Scratch
Building an accounting practice typically involves starting with no client base and growing organically over time.
This route often appeals to accountants who:
- Want to shape their practice their own way from day one
- Prefer gradual, controlled growth
However, building a practice is rarely “just about accounting”. New owners must also manage:
- Marketing and client acquisition
- Pricing and cash flow management
- Systems, processes and compliance
Many accountants underestimate the commercial and operational demands involved in building a practice alone. The early years often involve wearing many hats, which can surprise even experienced accountants.
Building with franchise support
Within the TaxAssist network, accountants starting from scratch are supported with:
- An established brand and local marketing model
- Proven systems and processes
- Ongoing business and technical support
- Client lead generation
This allows new practice owners to build their client base more efficiently while avoiding many of the early pitfalls of independent start-ups.
What It Means to Buy an Existing Accounting Practice
Buying an accounting practice involves acquiring an established client base, existing revenue and operational structure.
This route can offer:
- Immediate income
- Established client relationships
- Proven systems and workflows
However, it also brings challenges, including:
- Client retention during the transition period
- Legacy pricing or service issues
- Cultural and operational change management
A successful acquisition depends heavily on due diligence, realistic valuation and careful transition planning.
Buying a practice within a franchise network
For accountants joining the TaxAssist Accountants Franchise, buying an existing practice can be done within the network, offering:
- Support through the acquisition process
- Structured handover and client communication
- Access to established systems and branding
- Ongoing operational guidance post-purchase
This can significantly reduce the risks often associated with buying independently.
Where the TaxAssist Franchise Fits into the Decision
For many accountants, franchising provides a flexible middle ground.
Within the TaxAssist Accountants Franchise, accountants can:
- Start a new practice with full brand and operational support
- Buy an existing TaxAssist practice and build on an established client base
- Combine both approaches over time through acquisition and organic growth
This flexibility allows accountants to choose the route that best suits their circumstances - without being locked into a single model.
Which Option Is Right for You?
There is no universally “best” route - only the one that fits your:
- Risk tolerance
- Financial position
- Career stage
Accountants who succeed long-term tend to make this decision strategically, with a clear understanding of what each route truly involves.
Making a Confident, Informed Choice
Whether you are considering building a practice from the ground up, buying an existing practice, or combining both approaches as you grow, the key is understanding the operational realities behind each option. Our case studies highlight franchisees who have successfully launched from scratch, acquired established TaxAssist practices from retiring accountants or external firms and those who have scaled by converting an existing practice.
Explore their journeys and see what's possible. If you'd like to discuss your options, our Franchise Recruitment Managers are happy to walk you through what's available and answer any questions.
